Malaysian Human Resource Minister did something 'questionable' for workers - NOPE not for all workers but just for CIVIL SERVANTS - government workers.
the programme is targeted at civil servants especially the B40 before being extended to government and private sector retirees to enable them to buy motor insurance via monthly installments, or every four-month or in one payment.
WHAT? A scheme to buy annual car insurance by installments (without interest??) How much is this insurance normally - well, it is about RM200-500 on the average - so, does paying installment for car insurance help the worker? If it was interest free home or car loans, then it is significant...and will help all WORKERS in Malaysia
Why then is this NOT for Private Sector workers, or self employed workers in the B40 class? They need it more..
For civil servants(government employees) they can get a lot of BENEFITS because they have regular employment, that is SECURE - so they can get easy loans...they can even do renovations and small construction to their homes/property on installment payments/loans ... a benefit NOT available to Private Sector or the self-employed workers...
So, if Saravanan wanted to help workers - help first the Private Sector workers...
2nd PROBLEM - Is Saravanan now giving large business to ONE insurance provider? The company mentioned in the news report is A Tech Insure Sdn Bhd (ATECH)
What about all the other car insurance providers - were they even given the chance to be part of this 'government plan/scheme'?Human Resource Minister, Datuk Seri M. Saravanan said the Syariah-compliant scheme was implemented with a RM100 million funding by Social Security Organisation (Socso), MyAngkasa Amanah Berhad (MAAB) and A Tech Insure Sdn Bhd (ATECH).
So, who is A Tech Insure Sdn Bhd (ATECH)?
Chairman - Tan Sri Dr. Abu Kassim bin Mohamed
- well, he is a former MACC Chief Commissioner - and after retirement. he seems to be receiving a lot - WHY? Is it some kind of 'pay back' for doing the right thing whilst in MACC - well, these kind of thinking can arise. After retirement, he already will receive a big pension - and rightly there should be a '3 year break'( a cooling off period) before he takes up other 'beneficial/enriching positions' in private or government companies...being part of Commissions may be OK...a lecturer teaching young MACC officers is OK ..When people in law enforcement gets offered and/or take up big high paying position after retirement - was this the 'Bribe' for favors done? Was this a strategy to suppress MACC from investigating this company and/or those associated - bosses still have influence over junior officers in MACC?
According to Prasarana’s website, MACC former chief commissioner Tan Sri Abu Kassim Mohamed (picture) was appointed into the company’s board of directors effective Feb 15....handles several multi-billion projects, particularly rail construction and development including the ongoing RM16.63 billion Light Rail Transit 3 project.
Now, Chairman of A Tech Insure Sdn Bhd (ATECH)
Tan Sri Ravindran Menon is named as one and only hy rector in the Company's website
AND, GUESS WHAT....THE MALAYSIAN GOVERNMENT IS PUMPING IN RM100 MILLION
As it is, this project/scheme only helps government employees - not ALL workers
Why exactly is the government pumping in MONEY - when really, that car insurance service provider will be making GREAT profit from the about 1.7 million civil servants(government employees) - with all its competitors put at a great disadvantage?A Tech Insure Sdn Bhd (ATECH) must be giving the government/US maybe RM100 Million or Billion after all Saravanan and/or the Ministry just gave them a potential gold mine...
Was there OPEN TENDER?
Should MACC start investigating now - an appointment of a former MACC Chief Commissioner as Chairman does not prove that there is NO CORRUPTION - in fact, I become more suspicious...
B40 civil servants can now buy car insurance in instalments, says Saravanan
Reuters filepix for illustration purpose only
KUALA LUMPUR (Nov 24): About 1.7 million civil servants especially those from the B40 group can now purchase or renew their vehicle insurance with interest-free instalments through MyezyCover scheme introduced by the government on Wednesday (Nov 24).
Human Resource Minister, Datuk Seri M. Saravanan said the Syariah-compliant scheme was implemented with a RM100 million funding by Social Security Organisation (Socso), MyAngkasa Amanah Berhad (MAAB) and A Tech Insure Sdn Bhd (ATECH).
“In the initial stage, the programme is targeted at civil servants especially the B40 before being extended to government and private sector retirees to enable them to buy motor insurance via monthly instalments, or every four-month or in one payment.
“Those who make a one-payment purchase would receive a 10% discount with payment via salary deduction by Angkasa,” he said in a media conference after witnessing the signing of MyezyCover Scheme Agreement at Menara Perkeso here on Wednesday.
In the agreement ceremony, Socso was represented by its chief executive Datuk Seri Dr Mohammed Azman Aziz Mohammed, ATECH by its chief executive officer (CEO) Syed Alwi Mohamed Sultan while MAAB by CEO Faudzi Mt Din.
Saravanan said the involvement of Socso in the programme was as an investor because the government was aware that there were civil servants, especially those in the B40 who could barely cover their vehicle insurance payment.
“The situation caused them to wait for their salary to purchase their car insurance if their car insurance expires in the middle of the month.
“Some even buy road tax and car insurance with loans from illegal money lenders apart from cooperatives or with credit cards.
“So looking at their cash flow losses through such loans, I discussed with insurance companies and was told they have no objection to providing instalment payment scheme as some parties could put up the payment first. So I discussed with Socso and other parties to participate in the programme as investors,” he said.
Saravanan is confident the programme would assist the government to eradicate poverty among the people especially civil servants to reduce their financial burden.
Meanwhile, ATECH chairman, Tan Sri Abu Kassim Mohamad in a statement
said with an instalment for as low as RM50 a month, MyezyCover scheme
could assist civil servants to manage their cash in hand for other
expenses. - Edge Markets, 24/11/2021
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