I read many times press reports in which the Employees Provident Fund has said that it is very careful with contributors' money. Also that the EPF is very prudent in its investment policies.

I suppose the latest increase in the stake of Malaysian Resources Corporation Berhad by another 20.24% amounting to 155.55 million shares (resulting in EPF being the largest shareholder with a total stake of 32.5% (235.26 million shares) is a prudent investment by EPF standards.

Or could it be that EPF's definition of prudence is different from the generally accepted meaning?

Like many hardworking, law-abiding Malaysians who were hit badly by the Asian Financial Crisis in 1997, I was made redundant. At an age when I am too young to retire and too old to get another job, my EPF money is my last hope of giving my children an opportunity to pursue their tertiary education.

We need that money for our children. Me and my wife can always eke out a living by cutting costs, doing whatever jobs necessary to cover our overheads and using whatever dwindling savings we have to maintain our daily life.

Therefore, it really stresses us when the see the EPF literally squandering away our money and we not being able to anything about it - except to look forward to our 55th birthdays in order to rescue our EPF money at the first available opportunity.