Kuala Lumpur 20 October : A RM5 billion investment fund was announced by Deputy Prime Minister Datuk Najib Tun Razak today as part of the overall financial aid for our Malaysian Economy to withstand the global economy turmoil, if it is yet to be qualified as "the rescue plan" of the BN government has had for the nation. It was earlier elaborated by Najib as well as Nor Mohammad, second finance minister and deputy finance minister Kang C. H. that our country's economy remained strong and vibrant, and is resilient to any potentially hit caused by the current global economy pitfall.
It is said that the fund will be injected to ValueCap Bhd, an investment company which was formed during the era of the previous Malaysia Premier, Tun Mahathir. Through ValueCap, funds will be injected or used to purchase undervalued shares of publicly listed GLC's from Bursa Malaysia.
The question is : where the money of RM5 billion comes from? It was not clearly mentioned during the brief. From Khazanah, Finance Ministry, or Petronas again? or even worst: from our hard earned EPF money???!!!
It is indeed, our hard earned money from EPF!!! (refered to latest article in Malaysia Today)
Good market observers described the current market situation as the falling knife. "Never try to stop or hold or catch the falling knifes, or one will get hurt, badly." The next question: how far the RM5 billion fund could effectively rescue the current falling market? Which counter are they looking at to invest?And critically, EPF has got their very own investment expertise who can perform the tasks well, why must they go through ValueCap? Would there be any hidden agenda?
1 comment:
ha ha.... sometimes ago, when i was trying to name my investment group, i once came across with the name "value invest". I changed my mind soon as i read the news that our government was naming their investing vehicle "valuecap".
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