How should we judge a government?

In Malaysia, if you don't watch television or read newspapers, you are uninformed; but if you do, you are misinformed!

"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing." - Malcolm X

Never argue with stupid people, they will drag you down to their level and then beat you with experience - Mark Twain

Why we should be against censorship in a court of law: Publicity is the very soul of justice … it keeps the judge himself, while trying, under trial. - Jeremy Bentham

"Our government is like a baby's alimentary canal, with a happy appetite at one end and no
responsibility at the other. " - Ronald Reagan

Government fed by the people

Government fed by the people

Career options

Career options
I suggest government... because nobody has ever been caught.

Corruption so prevalent it affects English language?

Corruption so prevalent it affects English language?
Corruption is so prevalent it affects English language?

When there's too much dirt...

When there's too much dirt...
We need better tools... to cover up mega corruptions.

Prevent bullying now!

Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)

Wednesday, March 21, 2012

Why so quick in transferring unclaimed monies?

"WOULDN'T it be nice to find out that there is money due to you? Now, you can actually perform an online index search to see if you have any money with the Registrar of Unclaimed Moneys. The Unclaimed Moneys Act 1965 requires businesses to send to the government a report on any unclaimed moneys in their possession. Unclaimed money can be in the form of dormant bank account monies, share dividends, life insurance policies, unclaimed wages and EPF contributions..."

The Edge: Have any unclaimed money? By Lim Siew May on 26 Jan 2011

I found an outdated cheque (08/04/2010) for Rm56.25 from Chuan Huat Resources Bhd and decided to claim for it. The following were the steps I had to go through:

1. Called up the listed company's registrars, Sectrars Services Sdn Bhd and was told to write to them with a copy of the cheque;
2. Received a reply from Sectrars (14/02/2012) informing me that they had submitted my claim to Pendaftar Wang Tak Dituntut, and to wait for their acknowledgement;
3. Received a letter from Sectrars (15/03/2012) instructing me to complete an enclosed Form UMA-7, together with their confirmation letter for submission to PWTD;
4. Sent by ordinary post the completed form with the confirmation letter today; and
5. Now sit and wait, and hope it will reach PWTD and then a cheque for the amount claimed.

It should be noted that with the e-Dividend system in place, such problems of dividend cheques lost in the post or misplaced by recipients will be increasingly rare. But until then, I believe there must be many instances of 'dormant bank account monies, share dividends, life insurance policies, unclaimed wages and EPF contributions' which our government has been accumulating happily. I can still remember the days when such transfers of unclaimed monies were done after 7 years! In the case of my dividend cheque, after just over a year and it was transferred! I can also remember our government had announced some time ago (rubbing their hands in glee, I suppose) that they will be using the accumulated unclaimed billions in EPF accounts! I could sense the almost indecent eagerness to transfer unclaimed monies to the government.

I wonder how many of us would take the trouble to go through what I had been through for just Rm56.25! But I did it partly to gather first hand information on the claiming procedure.


1 comment:

Anonymous said...

In India and Pakistan a different method was used. They insrtucted the Central Bank to freeze 80% of all accounts so that the national debt could be repaid. That is the true meaning of a Transformation Programme.