PM: US ventures decided by investment committee
KUALA LUMPUR: The decision to invest in the United States was made by the country’s investment committee and professionals, said Prime Minister Datuk Seri Najib Tun Razak.
He said that neither he nor politicians made the decision or instructed the committee to choose the United States.
“I only asked for the investment to be chosen based on the criteria that it has the best return, balanced with risk management.
“We receive returns of 11.1% when we invest in the United States; in Malaysia, we only get around 7%. Who benefits from this? It’s the employees in Malaysia.
“We need to have a global strategy and investing in the United States is not something new. This has been done since 2008,” he said in his speech during the “Sesi Jom Bersama Perdana Menteri dengan TM” event at Menara TM yesterday.
During his White House meeting with Donald Trump on Sept 13, Najib told the US President that the Employees Provident Fund (EPF) and Khazanah Nasional Bhd planned to expand their investments in the United States.
The EPF is expected to invest between US$3bil and US$4bil (RM12.54bil and RM16.4bil).
Najib added that Khazanah Nasional Bhd’s investment in Alibaba Group, for example, yielded profits of more than US$1bil (RM4.2bil) and this would be used to invest in high-tech companies in Silicon Valley.
“So let’s not listen to certain groups that are trying to confuse the people and incite anger,” he said.
Najib added that Malaysia must be a first-class nation and looking at present indicators, it can already be recognised as a great country.
This includes an economic growth rate of 5.8% and being ranked 25th in the World Economic Forum’s Global Competitiveness Report.
“I’m also curious when people complain that we have problems relating to cost of living but if you go to Mecca at any time of the year, it is filled with Malaysians.
“They are not only there to perform their pilgrimage but to shop as well. Is this a sign of a failed state or a bankrupt nation? I think not,” he said.
At the function, Najib launched new Unifi packages from Telekom Malaysia for e-entrepreneurs and students of institutions of higher learning, featuring broadband speeds of up to 100Mbps.
He also launched i-foundit, an app that enables Malaysians to access the Internet via wifi@unifi, previously known as TM WiFi.