At the White House, Najib does another 1MDB: Najib’s promise of investment from EPF,Khazanah wholly illegal
Remarks by President Trump and Prime Minister Najib Abdul Razak of Malaysia Before Bilateral Meeting
PRIME MINISTER RAZAK: Secondly, we have Employees Provident Fund, which is a major pension fund in Malaysia. They’ve got quite a big sum of capital to be exported. They have invested close to $7 billion, in terms of equity, in the United States. And they intend to invest three to four additional billion dollars to support your infrastructure redevelopment in the United States.
PRESIDENT TRUMP: Great.
PRIME MINISTER RAZAK: And thirdly, our sovereign fund, Khazanah, they have an office in Silicon Valley. They have invested about $400 million, in terms of high-tech companies, and they intend to increase that investment as well.
The EPF in particular, being a pension fund, is meant to be independent of government, answerable to its members only.
Investment decisions are to be made by its investment panel. What Najib has done at the White House is to promise investment from a fund that is by law meant to be independent of him and his government.
Of course, in reality, the fund is often plundered to further political ends.Given the FBI and DOJ investigations,this does look like a bribe paid for with another theft.
Saturday, June 24, 2017
PAS leader Ustaz Hadi Awang hints at 1MDB scale problems at Tabung Haji , EPF
by Ganesh Sahathevan
Reproduced without comment (for the time being):
“We shouldn’t repeat history by inviting foreign quarters to solve our problems such as the BMF scandal, Perwaja, Tabung Haji, EPF and 1MDB.”
Hadi: Islam rejects ‘foreign intervention’ to solve internal problems