Posts Tagged ‘Funds’

Ex HM Nadarajah honoured with trust fund name

January 13th, 2010
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FORMER SMK Maxwell headmaster P. Nadarajah left such an impression on his former students that some of them have set up a trust fund in his honour for the school’s needy students.

According to former head boy Ngiam Foon, the group who started the fund wanted to show their gratitude to the school and headmaster.

“What we are doing is a reflection of the compassion that Nadarajah showed us during our school days,” said Ngiam.

About RM15,000 was collected and used to buy back-to-school gifts for 100 needy students from Remove classes to Form 3 at their alma mater. They distributed the gifts at a ceremony on Monday.

The students received one set of school uniform each, shoes, a school bag and stationery.

“We will try to raise more funds during a dinner on Jan 23,” said Ngiam, who added that this was the first trust fund set up for the school.

Twelve old boys and four former teachers joined Nadarajah at the small ceremony held at the school hall.

“He used to cane us when we did something wrong, but it was because he loved us,” said Ngiam.

Ngiam’s former classmate, K.L. Tan said: “He is a humble and disciplined man.”

Tan said that Nadarajah would also pay for meals and school fees for students who could not afford them.

“I used to think that I would need bodyguards once I left the school because I used to whack them all the time. But I am proud that many of them have made it,” quipped Nadarajah.

“The most important thing for teachers is to show they care for the students,” he added.

Those interested in contacting the group can e-mail maxwellian@live.com.

from: The Star.

Selangor MB worried about Tamil schools UPSR results

January 5th, 2010
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Worrying is good start, dear MB. Question now is, what’s next? How about yearly allocation of RM10 million and land allocation/conversion for 5 schools per year?

About 45% of Tamil School pupils in Selangor do not fare well in the Ujian Penilaian Sekolah Rendah (UPSR) examination and this was something that had the state government worried, said Mentri Besar Tan Sri Abdul Khalid Ibrahim.

He said this could be due to a lack of support from parents who were mainly in the lower income group or the absence of an effective mechanism to help them achieve better performance.

He said this when handing over financial aid from the state government to Tamil schools at the Selangor state secretariat building here on Tuesday.

At the function, 31 Tamil schools received financial aid totalling RM704,000 while Parent-Teacher Associations of Tamil schools received a total of RM508,000 in aid.

Khalid said there were 97 Tamil schools with an enrolment of 34,000 pupils in Selangor and that 80% of the pupils came from families in the lower income group. — Bernama

The funds given (704k/31 schools) is about RM22,710 per school.  If same number of PTAs got the 508k allocation (508k/31 = RM16,387), then its RM39,097 per school. Not sure how that amount can help the schools.

Its clear that Tamil school problem needs a massive and immediate action from the Education Ministry and state governments in terms of financial allocation, land procurement, school relocation, and school status conversion, but it had not been happening as fast as it should be. Instead, its worse than snail’s pace.

In spite of all the shortcomings and problems faced by Tamil schools, 55% have done well in UPSR. That’s something to ponder about. And given the effort by the schools, parents, community and NGOs, hopefully the percentage increases year after year.

EPF scheme for self employed

December 23rd, 2009
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So, EPF is launching a scheme for the self-employed. There are many self-employed people in Malaysia, and they come from all walks of life. Some may earn tons of money, while others barely scrape through day after day. For some of them, this would be a good scheme as it offers a channel to save money for retirement. For some others, there will be skepticism since they may know channels that give higher returns than EPF. Or, maybe worried that if they save a lot, income tax people will come looking for them 🙂 The really skeptical group would say that government lacks money, and this is one way to generate fund to mobilise development projects. Well, each to his own.

No one is forcing the contributor to save, so its entirely up to the person to consider this scheme. If you prefer other instruments like unit trust, ASN/ASB, real estate, precious metals, FD etc, so be it.

The Employees Provident Fund (EPF) will launch the 1Malaysia Retirement Saving Scheme on Jan 3 to help the self-employed cope with income inadequacy during retirement.

EPF chief executive officer Tan Sri Azlan Zainol said the scheme, announced by Prime Minister Datuk Seri Najib Tun Razak during the tabling of the 2010 Budget in October, was to care for the welfare of the self-employed who had no formal retirement savings scheme.

It was designed to provide individuals without a fixed monthly income with financial security in their old age, he said in a statement.

The scheme was also open to self-employed individuals such as hawkers, night-market traders, real-estate agents, freelancers like disc jockeys and fitness instructors, singers and actors and online business owners.

“The Government is sensitive to the fact that adequate retirement savings remains a major concern for all Malaysians, in particular the self-employed, especially those without a fixed monthly salary.

“The 1Malaysia Retirement Saving Scheme offers this group of contributors flexibility in determining how much they can afford to save for their retirement,” he said.

Azlan said that unlike the conventional EPF saving scheme, the amount contributed into the 1Malaysia Retirement Saving Scheme was entirely at the contributor’s discretion.

“Contributors can opt to set aside a minimum of RM50 or a maximum of RM5,000 per month as retirement savings.

“Contribution is voluntary and contributors are also not required to contribute savings on a monthly basis but rather what and when they can afford,” he added.

Azlan said contributors would receive annual dividends declared by the EPF, in addition to a 5% contribution from the Government subject to a maximum of RM60 per year over the next five years from 2010-2014.

Those interested can apply for the scheme at any EPF branch nationwide, or download the KWSP 16G (1M) Form from the EPF website at www.kwsp.gov.my from Jan 3.

The forms are to be returned at any EPF branch or by mail.

However, individuals who are not EPF members have to register with the EPF first.

Existing EPF members who turn self-employed are also eligible and may opt for this new scheme.

MIC waiting for money for schools…

December 17th, 2009
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At last, there’s some news on the allocation asked by MIC in order to complete the renovation of Tamil schools and construction of additional or replacement buildings for schools. The initial allocation of RM100 was deemed in sufficient due to escalation in material costs. There was a request for additional RM60 million, but according to news below, the request is for RM53 million. Not sure how much will be approved, since government is short of funds and even operating expenditure is being reduced by 10-15% next year.

MIC is awaiting clearance from the Finance Ministry on the party’s request for an additional allocation of RM53 million for the construction of new buildings in several Tamil schools, including the SJK (Tamil) Sungai Tok Pawang in Kedah’s Jerai constituency.

MIC president S Samy Vellu said at least RM1.6 million was needed to construct a new building for the SJK (Tamil) Sungai Tok Pawang on a piece of land reportedly already earmarked for the school.

“This project (SJK (Tamil) Sungai Tok Pawang) was supposed to have started some time back but because of the escalation in the construction cost of the Tamil schools, it had to be deferred along with several other (Tamil) schools,” he said in a statement today.

Samy Vellu was commenting on a Malaysiakini report today which said that despite a 5.5 acre land allocated by the Kedah state government last April for the SJK (Tamil) Sungai Tok Pawang, there was still no word on the construction of the building.

Samy Vellu said the request for the RM53 million extra allocation to cover the escalated construction cost from the original RM130 million allocated by the government, was made to Prime Minister Najib Abdul Razak, who is also the finance minister when he chaired the special cabinet committee for the development of the Indian community recently.

He said the RM53 million additional allocation was “over and above” the RM100 million approved by Najib under the two economic stimulus packages and another RM30 million approved during Abdullah Ahmad Badawi’s tenure as prime minister.

“Once the additional allocation has been approved, work on the projects can start after tender processes are completed by the Public Works Department (PWD),” he said, adding that all allocations from the Finance Ministry would be channeled as usual through the PWD.

Samy Vellu said MIC had listed out many Tamil schools which required new buildings, and construction work would commence in stages, depending on the availability of funds from the Finance Ministry.

“The government has already rebuilt many Tamil schools over the years through MIC, and many more will be redeveloped,” he said.

He also said MIC was working with the Education Ministry to switch partially-aided Tamil schools into fully-aided schools.

I hope they update the list of schools, complete with the work done and costs. Photos will be great too. Is that part of some KPI for MIC?

The issue arose after news about SJKT Sg Tok Pawang school came to light. This school has been sharing compound with a national school for two decades:

Sekolah Kebangsaan Tok Pawang and Sekolah Jenis Kebangsaan Tamil Sg Tok Pawang share the same compound, but it’s a different story with the canteen.

SJK(T) pupils have been denied access to the canteen. This was decided by SK Tok Pawang teachers after frequent quarrels between the pupils of the two schools. [err..why not just adjust the break time so that it doesn’t clash?]

The SJK(T) PIBG then organised a makeshift canteen for the 170 Tamil school students at a corridor behind the building.

Students of both schools also do not share classrooms.

Twenty-three years ago the students of the Tamil school were accommodated at SK Tok Pawang after they had to abandon their own building due to pollution caused by the nearby Lee Rubber building.

The Tamil school received a new lease of life when the Kedah state government allocated 5.5 acres of land to build a new school on April 3 this year.

Menteri Besar Azizan Abdul Razak, accompanied by deputy P Ramasamy and the current state exco S Manikumar, attended the groundbreaking ceremony to a joyful atmosphere of excited schoolchildren and parents.

At the event, he said that the state government is giving the land to the school without any premium charge. They have also waived the assessment and the school needed to pay only a token sum of RM10 for the land.

This happened about eight months ago. The situation has not changed since then.

SJK (T) Tok Pawang students still share the school building with SK Tok Pawang pupils. There is no sign of a new building being built on the land that was given to the Tamil school.

Azizan had, at the groundbreaking ceremony, clearly indicated that the state government had done their job by giving the land.

It was now up to the school to negotiate with the Education Ministry to obtain the RM1.6 million needed to build the school.

Jerai MP Mohd Firdaus Jaafar said that now the ball was in MIC’s court to “pressure the minister (of education) at the federal level to make sure the building gets built.”

Balasingham, 35, says that he had been waiting for the school to be built since the day he left the school when he was 12.

His daughter now attends the school in Standard 1, but nothing has changed.

At the moment, students have no choice but to go about their familar routine of sharing the same compound and building, and having their meals under a a makeshift canteen.

Thus far, there is not even a hint of a new school building emerging on the land provided to them.

All you can see is the tractor used by the Kedah menteri besar during the groundbreaking ceremony. It sits forlornly by several oil palm trees, a sad reminder of what should have been.

TEKUN loan awarded

December 16th, 2009
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MIC boss presented loan to 109 successful applicants of TEKUN fund. The amount was not mentioned. Anyway, according to the deputy minister, there’s still RM30 million left.

Samy Vellu also said that many Indian entrepreneurs had difficulty obtaining loans from commercial banks, although they were qualified, and that this matter has been brought to the attention of PM:

MIC president Datuk Seri S. Samy Vellu said the matter had been brought to the attention of Prime Minister Datuk Seri Najib Tun Razak during the meeting of the Cabinet Committee on Indian Affairs recently.

“We have also asked the Finance Ministry to review the conditions for granting loans to make it more flexible,” he told reporters after handing over loan cheques from the National Tekun Foundation to 109 Indian entrepreneurs here yesterday.