Khaz­anah, EPF to ex­pand in­vest­ments in the US

The Myanmar Times - - International Business -

THE Em­ploy­ees Prov­i­dent Fund (EPF) and Khaz­anah Na­sional Bhd plan to ex­pand their in­vest­ments in the United States and pur­chase more Boe­ing jets to help strengthen the coun­try’s econ­omy, Prime Min­is­ter Datuk Seri Na­jib Tun Razak an­nounced on Tues­day.

The EPF alone is ex­pected to in­vest be­tween US$3bil and US$4bil.

“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 said at the del­e­ga­tion meet­ing with US Pres­i­dent Don­ald Trump.

Na­jib, who is also the Fi­nance Min­is­ter, said the Malaysian del­e­ga­tion had three spe­cific pro­pos­als.

Firstly, he said, Malaysia in­tended to in­crease the num­ber of Boe­ing planes to be pur­chased by Malaysia Air­lines Bhd (MAB). “We are com­mit­ted to 25 planes of 737-MAX 10, eight 787 Dream­lin­ers and there is strong prob­a­bil­ity, not pos­si­bil­ity, that we will add 24 (or) 25 more 737-MAX 10 in the near fu­ture.”

So, within five years, with the ad­di­tional pur­chase, the deal will be worth be­yond US$10bil, he said.

The 737 MAX 10 will be the air­line’s most prof­itable sin­gle-aisle air­plane, of­fer­ing the low­est seat costs ever, while the 787 Dream­liner is a long­haul, mid-size wide­body, twin-engine jet air­liner.

The dis­cus­sion with Trump was the high­light of Na­jib’s Sept 11-13 work­ing visit to the US at the in­vi­ta­tion of the 45th US pres­i­dent who took of­fice on Jan 20 this year.

Na­jib said the Gov­ern­ment would also try to per­suade low-cost car­rier, Ai­rA­sia Bhd

“Sec­ondly, we have EPF, which is ma­jor pen­sion fund in Malaysia. They have got big sum of cap­i­tal to be ex­ported, they have in­vested close to US$7bil in terms of eq­uity in the US and they in­tend to in­vest an ad­di­tional US$3bil to US$4bil to sup­port your in­fra­struc­ture re-de­vel­op­ment.”

The Prime Min­is­ter also said that Khaz­anah Na­sional, which has an of­fice in the Sil­i­con Val­ley, Cal­i­for­nia and had in­vested about US$400mil in high technology com­pa­nies, also in­tended to in­crease its in­vest­ment. – The Star

Photo: Reuters/The Star

Malaysia in­tends to in­crease the num­ber of Boe­ing planes to be pur­chased by Malaysia Air­lines Bhd, says Na­jib.

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