YOURSAY ‘That amounts to throwing good money after bad.’
'Use EPF for 1MDB IPO and we'll file injunction'
Vijay47: We can depend on PKR to take measures to protect Malaysians and their funds from the ravaging onslaughts of Umno and its greedy hordes but to play the devil's advocate here, what are the chances of success in the courts?
The Employee Provident Fund (EPF) will argue that in "investing" in 1Malaysia Development Berhad (1MDB), it is participating in something that is authorised in its memorandum, and that investments by EPF are not illegal.
It will add that in the considered wisdom of the board, 1MDB assures attractive returns and that investing in it is a prudent commercial opportunity.
The toughest hurdle of course is the response of the courts, which are known to generously offer applications by government and especially the police more leeway and licence than pleaded for.
True, injunctions may be within reach. If you happen to be Muhammad Shafee Abdullah.
Kit P: It is a ridiculous situation for a corporation to engage in an initial public offering (IPO) to resolve a cash-flow situation. That amounts to throwing good money after bad.
IPOs are normally done to raise cash for future expansion or to share the risks and rewards of business opportunities.
If a company needs to go to an IPO to solve a cash-flow problem, I wouldn't touch the IPO with a 10-foot pole.
Odin: Those of you who are contributing to the EPF would do well to initiate a class action lawsuit against the Finance Ministry.
RM4 billion of your savings has been taken out by 1MDB through SRC International Ltd. The last information available regarding the money is contained in a report by Jose Barrock, who wrote in May 2014 that SRC's annual report for the financial year ending March 31, 2012 showed that SRC had invested RM2 billion in a unit trust investment managed by AmInvestment Services Bhd and another RM1.7 billion put in short-term deposits.
The RM2 billion invested in the unit trust yielded a dividend income of less than 0.01%. A dividend of less than 0.01% is pathetic, to say the least.
The RM4 billion question is, what has happened to your RM4 billion since March 2012? Do you not want to know?
I have no legal standing to be involved, but had I have it, I would have got the ball rolling. You all decide. It is your money.
Kasparovisdead: There are deliberately coordinated attempts to undermine 1MDB by spreading unsubstantiated allegations and speculation, which in turn could potentially harm the economy.
Bakun Dam: Edra Energy's IPP (independent power producer) assets, revenues and profits will be separated from the debt of the 1MDB holding company and any decision to invest will solely be based on the merits of Edra Energy business itself - not on the 1MDB holding company.
EPF dividends have been increasing every year since PM Najib Razak took over in 2009 and last year it reached 6.75%, the highest for 15 years - since 1999, when Anwar Ibrahim played a big part in killing our economy.
As in any regulated industry, utility funds dividends are normally higher than that offered by banks due to its relative immunity to market conditions.
Like the healthcare sector, utility funds are considered defensive investments; that is, they are sustained by common everyday consumer use and the performance of the markets has little bearing on them.
People need electricity regardless of current economic conditions, and will therefore have to pay for them.
Utility funds therefore usually have a primary investment objective of current income, with growth (with new IPPs) as a possible secondary objective. Utilities are hence staple investments and highly attractive to pension funds such as EPF.
Dalvik: The time has come for those non-Umno members in BN to finally wake up that supporting the failed 1MDB project is equivalent to supporting the self-destruction of this country.
Always remember the reason you want to be MP, or at least, the promises you made to the voters (i.e. for the betterment of this country). By the way, where is the MCA accountant, Labis MP Chua Tee Yong?
Pputeh: Quote: "Rafizi (Ramli) also claimed he has information that government-linked companies will be pushed to relocate to Tun Razak Exchange (TRX) and Bandar Malaysia - two 1MDB projects which are under construction."
This is a typical way of squeezing the rakyat to benefit the cronies. In Ipoh, the bus terminals for outstation coaches were in Bercham and Jalan Bendahara, which is 5km to 8km away from the city centre.
Now the terminals have all been shifted to Meru, which is 15km to 20km away. So passengers arriving from Singapore, etc, will be taken to Meru where they have to get a taxi and pay through their nose.
This is also the same for departing passengers to KLIA too. So this is how the rakyat are inconvenienced and made to pay more so these duds can suck us dry.
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