Prokhas another Valuecap in the making
Oops i did it again. That’s is what EPF is doing yet again taking Malaysian hard earned money for a ride. I am sure the Valuecap saga is still fresh in most of our minds. EPF took out 5 billion to loan to Valuecap to invest in undervalued Malaysian stocks.
Now, Prokhas is rumored to get a 5 billion loan to administer two schemes under the first economic stimulus package. They are doing the now you see, now you dont act yet again!
Who the hell is Prokhas?
To be honest, who on earth is this company? Never heard of it before and suddenly came out of the blue that it will get 5 billion loan from EPF? I am sure most of you didn’t hear about this company before.
We need transparency from EPF
Ok so now EPF wants to give a loan to Prokhas, how much interest would EPF charge Prokhas? How they going to make use the money? When is Prokhas going to payback to EPF? So many unanswered questions
Now you know why EPF returns are always low
My title says it all. 2008 EPF only paid out 4.5%. I am not sure how much will the pay out be for 2009 but please dont be too optimistic on this.
I am pretty sure EPF is making hell lot of money in Axiata this term which is maybe 30 to 50% of their investment but their pay out is only 5% or so to EPF holders. Why? Because they have a lot of hungry ghost to feed.
What’s going on Valuecap?
Has anybody heard anything about Valuecap? Since our market has recovered tremendously, i think Valuecap is also making loads of money. So where is the balance sheet to share with everybody since you took a loan from EPF a fund which stores all Malaysian hard earned money.
You can outdo EPF
Don’t put high hopes on EPF. They will never rise to the occasion. I am confident that most Malaysians out there will do better in investing rather then hoping for a 4.5% return from EPF. Even by putting in ASM you are much way ahead then EPF.
Conclusion
Malaysians need to know where is their EPF money going. They sweat blood to make a living. Every Malaysian have the right to know what EPF is up to. Sadly, it will not materialize.
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5 Responses to “Prokhas another Valuecap in the making”
By Mr Ad on Aug 4, 2009 | Reply
People why are you still making a fuss when Prokhas has already denies talks with EPF? Although they have invested with Valuecap that is done. In terms of Prokhas even Prokhas themselves are denying it. So I think there should be no issue here..Full stop.
Most importantly, we will still be able to get our hard earned money back when we retire and enjoy the annual dividend. Although the dividend rates are low but at least it is still higher than what the banks are giving. Don’t you think we should be thankful that we are still getting it isn’t it? Duhhhhh….
But then, the choices is urs..If you think that ASM can give you better returns, maybe you can withdraw part of your savings and invested it with other trust fund.
As a blogger, I can’t stand it that unnecessary tension is created for no apparent reason to the public. We should read, think then write.
By Kampung Boy on Aug 4, 2009 | Reply
That is fine with us as long as they are transparent in whatever their dealings is. We can’t be left in the dark as those EPF money are people hard earned money.
What if the day comes when they cant make payout? Are you going to let the day happen then only cry over split milk?
Transparency is the answer for everything.
By ktn on Sep 3, 2010 | Reply
Can anyone explain on islamic investment? Thanks.