EPF’s money in 1MDB still risky despite govt backing

KUALA LUMPUR: The Employees Provident Fund investment in 1MDB totalling RM1.72 bil is still risky even though it is guaranteed by the government, said Pandan MP Rafizi Ramli (pic).

This is because EPF and other government agencies which have a stake in 1MDB, such as the Retirement Fund
cheap oakleys Inc (KWAP) and Lembaga Tabung Haji, will not be able to immediately reclaim the amount invested if 1MDB defaults on its whopping RM42bil
fake oakleys cheap loan.

1MDB fails, there is a high likelihood that the government will negotiate a delay in repayment with these
fake cheap oakleys
cheap wholesale oakleys government agencies or replace their investments with non monetary assets.

government agencies, it is very probable that they will have to concur with the government request, Rafizi told reporters in Parliament on Wednesday.

Rafizi was rebutting claims by EPF chief executive officer
fake cheap oakleys Datuk Shahril Ridza Ridzuan that its investment was secure as it was guaranteed by
cheap oakleys the government.

Rafizi also disagreed with Shahril claims that EPF would be given priority in reclaiming its
replica oakleys RM1.72bil investment in the event 1MDB encountered further financial trouble.

EPF has subscribed to RM200mil in bonds in 1MDB and has an exposure of RM1.52bil in the state investment arm subsidiaries, namely Panglima Power Sdn Bhd and Jimah Energy Ventures Sdn Bhd.

Rafizi urged EPF, KWAP and Tabung Haji to liquidate and sell the bonds they held in 1MDB now before the financial state of the debt laden company got worse.

must take into consideration the concerns of depositors
cheap oakleys and sell the bonds now, at a discount if need be.

1MDB is unable to pay its loans, then surely the government main priority in bearing the cost will be to restore the economy. And that means any claims made by KWAP, EPF and Tabung Haji will be delayed, Rafizi added.Articles Connexes：

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