EPF US investment decided by panel not politicians, says Najib

Jason Santos Jason Santos Updated 6 years ago · Published on 16 Sep 2017 11:10PM · 3 Comments

Prime Minister Najib Razak arriving at the Malaysia Day celebration in Kota Kinabalu tonight. Najib says the decision to invest in the United State was made by a committee that has yielded better dividends for EPF contributors. – The Malaysian Insight pic, September 16, 2017.

THE Employees’ Provident Fund’s move to invest between US$3 billion and US$4 billion in infrastructure redevelopment in the United States was not a political decision but was made by an investment committee, said Prime Minister Najib Razak. 

“The decision was not made by politicians but by a committee which has successfully yielded better dividends for EPF contributors,” he said in his address during the Malaysia Day celebrations in Kota Kinabalu tonight.  

Responding to criticism from the opposition, Najib said EPF, which had investments amounting to RM760 billion at present, could not invest only in government-linked companies.  

“This is why we diversified EPF’s investment risks by investing in the US, as the fund has done in 39 other countries,” he said. 

On Malaysia Airlines’s US$10 billion purchase of 16 new Boeing aircraft, he said the deal had a “value proposition” to replace its ageing fleet. 

“Right now, MAS needs modern and sophisticated planes to serve its passengers and provide better services for tourists. 

“This is important so we could fly tourists to places like Sabah,” said Najib, adding that the present fleet of aircraft were in constant need of repair.

The prime minister had announced the moves by EPF and MAS in a meeting with US President Donald Trump.

He had said the measures were part of Malaysia’s bid to “help you strengthen the US economy”. – September 16, 2017.

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Comments

  • Instead of investing in USA's infrastructure, EPF should buy over PLUS infrastructure from UEM. Then all the profits go to EPF contributors, the rakyat.

    Posted 6 years ago by Malaysian First · Reply

  • An audacious statement by the clueless PM. If EPF is doing so good and yielding better dividends for contributors WHY for many a years the dividends for contributors have yet to see anything above 7.5%. Are they being short changed??.

    Posted 6 years ago by Lee Lee · Reply

  • So where did the 3B-4B commitment figure came from? EPF or U?

    Posted 6 years ago by Jimmy Jimmy · Reply