Strin­gent checks done be­fore in­vest­ing over­seas: EPF

The Star Malaysia - StarBiz - - News -

PETALING JAYA: The Em­ploy­ees Prov­i­dent Fund says that as a re­tire­ment sav­ings fund, it will al­ways pro­tect the in­ter­ests of Malaysians when mak­ing for­eign in­vest­ments.

“In­vest­ment op­por­tu­ni­ties must fit its risk and re­turn pro­file and be in line with its longterm over­seas di­ver­si­fi­ca­tion plan,” EPF said in a state­ment.

Prime Min­is­ter Datuk Seri Na­jib Tun Razak an­nounced in Wash­ing­ton on Tues­day that EPF and Khaz­anah Na­sional Bhd would ex­pand their in­vest­ments in the United States.

“As at the first quar­ter of 2017, EPF’s over­seas in­vest­ment ac­counted for 29% of its to­tal in­vest­ment as­sets and con­trib­uted 37% to to­tal in­vest­ment in­come.

“The US is one of the key mar­kets within the EPF’s in­vest­ment (scope) given its size and depth.

“As a re­tire­ment fund, the EPF en­sures that ev­ery in­vest­ment pro­posal goes through strin­gent risk as­sess­ment and ro­bust due dili­gence to pro­tect the in­ter­ests of its 14 mil­lion mem­bers,” it said.

The Prime Min­is­ter said EPF planned to in­vest be­tween US$3bil and US$4bil (RM12.6bil to RM16.76bil) more in in­fra­struc­ture re­de­vel­op­ment in the US.

“I want to say that we come here with a strong value propo­si­tion to put on the ta­ble.

“We want to help you in strength­en­ing the US econ­omy,” Na­jib was quoted as say­ing.

He also said the Govern­ment would at­tempt to per­suade low-cost car­rier AirAsia Bhd to pur­chase US-made Gen­eral Elec­tric en­gines.

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