Stringent checks done before investing overseas: EPF
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.