10 charges, two courts for one insurance scam

JOHOR BARU: An unemployed man had 10 charges against him in two magistrate’s courts here over an insurance scam involving more than RM1.2mil. Chong Chee Seng, 46, from Taman Soon Chong, in Chaah, Segamat, was alleged to have committed the offences from 1992 to 2002. He pleaded not guilty to all the charges. He was alleged to have committed the offences against two insurance companies at 101, Tingkat 1, Pan Global Plaza, Jalan Wong Ah Fook in Johor Baru, Johor. He was alleged to have submitted false death certificates, burial permits, police reports, attending physician’s statements and medical reports under the names of 10 people. He was also accused of cheating the insurance companies into making policy payouts over the alleged deaths of the policyholders. He was charged with five counts in each of the two magistrate's courts he was brought to. In the first court presided by magistrate Rasidah Roslee, the offences involved a sum totalling more than RM751,000. Rasidah fixed bail at RM39,000 for all the five charges. In the second court presided by magistrate Nor Shahid Abd. Malik, the sum involved in the charges was more than RM499,400 and bail was fixed at RM27,000. Both Rasidah and Nor Shahid fixed March 26 trial. The accused failed to post bail.


13 December 2007, By The Star

EPF announces details for housing loan monthly instalment withdrawal

14-12-2007: EPF announces details for housing loan monthly instalment withdrawal
by Lim Yu Min
Email us your feedback at fd@bizedge.com

KUALA LUMPUR: The Employees Provident Fund (EPF) on Dec 14 laid out details for the housing loan instalment monthly withdrawal that was first announced by Prime Minister Datuk Seri Abdullah Ahmad Badawi in Budget 2008 last September.

Effective Jan 1 next year, EPF contributors can withdraw from their Account II to finance home purchases, it said in a statement.

It said EPF contributors with a minimum balance of RM600 in their Account II could withdraw their savings to make monthly payments towards their housing loans, adding that the minimum monthly withdrawal is RM100 for a period of not less than six months, whilst the maximum amount for monthly withdrawal should not exceed the total monthly housing instalment

It said the savings in Account II allocated for this withdrawal cannot be used for other withdrawals. Members must also be below the age of 55, and do not have any housing loan arrears.

The EPF said the payments will be made directly to members’ personal bank accounts on monthly basis.

It said that the EPF will revoke this monthly instalment withdrawal and members will not be eligible to apply for a similar withdrawal in the future in the event of the following:

• Members have a non-performing loan with a financial institution.
• Loans have been revoked/redeemed.
• The house has been sold/auctioned/transferred to another party.
• Members who are convicted of cheating by submitting fraudulent documents/information for this withdrawal.

Currently, members are allowed to withdraw from their Account II for the purpose of building or purchasing a house and settling their housing loan.

EPF said the conditions for the withdrawal are as follows:

• Members must either be the purchaser or builder and the borrower as well as owner of the house or shop house with a dwelling unit.
• Members should have an existing housing loan from an approved financial institution.
• The house has been mortgaged and fully disbursed by the financial institution.
• Withdrawals are applicable for any houses subject to one house for each member, and it is not limited to the same house from previous withdrawals. However, subsequent withdrawals are only allowed for the same house.
• Other forms of refinancing besides housing are not allowed for this withdrawal.

“Members intending to withdraw for the first time are required to complete EPF 9P (AHL) form and provide certified true copies of their identity card with either their bank books or account statements which are still active, confirmation letter on balance of housing loan, sales and purchase or house construction agreement, housing loan approval letter, mortgage form and title deed or deed of assignment."

“For subsequent withdrawals, members need only complete the EPF 9P (AHL) form and submit copies of their identity card together with their bank books or account statements which are still active, and also the latest confirmation letter on balance of housing loan,” it said.

For more information, visit the EPF website at www.kwsp.gov.my.

by theedgedaily.com