Netizen 24 MYS: Abdul Rahman: Pakatan shouldn't be surprised by EPF, MAS investments

By On September 14, 2017

Abdul Rahman: Pakatan shouldn't be surprised by EPF, MAS investments

PETALING JAYA: The Opposition should not be surprised that the Employees Provident Fund's (EPF) has been investing overseas and enjoying good returns, said Datuk Seri Abdul Rahman Dahlan.

The Barisan Nasional Strategic Communications director said EPF had released statements over the years showing that it had embarked on diversification in overseas investments.

He added that it was unbelievable that Pakatan Harapan leaders had appeared shocked by Prime Minister Datuk Seri Najib Tun Razak's announcement of increasing EPF and Malaysia Airlines' (MAS) inv estments in the United States during his meeting with President Donald Trump.

During his bilateral meeting with Trump on Tuesday, Najib revealed that EPF, which has US$7bil (RM29.42bil) worth of investments in the US currently, intended to invest an additional US$3bil (RM12.61bil) to US$4bil (RM16.81bil) to support infrastructure redevelopment there.

Abdul Rahman said that in July 2016, EPF had removed the 30% cap on foreign investment for its Members Investment Scheme and allowed its members to invest in overseas funds.

"The results show that its overseas investments accounted for 29% of its total investment assets and contributes 37% to the total investment income as at the first quarter of 2017," Abdul Rahman said in a statement on Wednesday.

He added that EPF's dividend announcement for the past two years specifically stated that good returns from overseas investments had allowed it to deliver good dividends despite a slow domestic mark et.

On Malaysia Airlines purchasing Boeing planes, Abdul Rahman said this had been widely reported as well.

"In July 2016, it was already widely reported that MAS had signed a deal to purchase up to 50 Boeing 737 MAX jets with orders for 25 planes, and rights to purchase 25 more in a deal valued at US$5.5bil (RM23.11bil) at list prices," he said.

"Similarly, in August 2017, the media also reported that due to the success of MAS' restructuring and its current growth, it was already deep in negotiations to purchase 30 more new Boeing 786 or Airbus jets to allow MAS to continue growing its routes and business," he added.

Abdul Rahman said the Opposition should appreciate the success of EPF and MAS' successful deals instead of questioning its motives.

"On top of this, many of our local politicians seem blissfully unaware that back in March 2017, Malaysia was listed as one of the 16 countries that the US Government wan ts to investigate as a 'trade cheat' due to our continuing significant trade surpluses with the USA," he added.

Related NewsSource: Google News

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