AS President Donald Trump leaves Washington for a two-week tour of Asia, Prime Minister Najib Razak repeats the reason why the Employees Provident Fund and Khazanah Nasional Berhad have invested in the US.

“We went to the US to show Trump that we were not there to beg, but that we are a successful country that can invest overseas.

“Other countries go (to the US) to borrow money, but we went to tell Trump that we are successful because of Umno’s efforts,” Najib told a packed hall at Umno’s Social Media Convention at PWTC today.

During his visit to the White House on September 13, he had told reporters that EPF and Khazanah would expand their investments in the US, and that more Boeing jets would be purchased to help strengthen the American economy.

EPF is expected to invest between US$3 billion and US$4 billion (RM13 billion and RM17 billion).

Najib said Malaysia’s policy of making investments abroad had been in place since 2000, even before he was prime minister.

He added that it was risky to restrict EPF investments locally, as it could spell trouble should losses be incurred.

“When there are profits (from overseas investments), they are brought back to Malaysia and dividends are added.

“EPF has RM780 billion in funds. We can’t invest all of it only in the country.

“If share prices fall, who will suffer the losses? Malaysians will. This is why we have a policy of diversifying our investments.

“Malaysia’s investments overseas are not only in the US, but also other countries. If there is a decline in one market, there are others that can give us profits.”

He reiterated that no payment had been made to secure the White House visit, referring to claims by former prime minister Dr Mahathir Mohamad.

Najib said the Pakatan Harapan chairman had yet to respond to his statement that the latter himself had paid for his trip to the US during his tenure as prime minister.

“I did not pay a fixer to set up the Trump meeting.

“I said that during his time, payment had been made. He has not responded to this.

“I know who made the payment, I know how the payment was made. So, it doesn’t matter.”

He added that “if Trump wanted to walk me to my car, it’s up to him”.

Trump is set to visit Japan, South Korea, China, Vietnam and the Philippines during his Asian tour. – November 4, 2017.