Bursa Alert
Global Market
NewsMoF: No high risk lending by EPF
Page 1 of 1
MoF: No high risk lending by EPF
by hlk Tue 29 Nov 2011, 20:37
KUALA LUMPUR (Nov 29): The Dewan Rakyat was informed here that the Employees Provident Fund (EPF) only provided loans to asset-rich
government linked companies and not to high-risk corporations.
Deputy Finance Minister Datuk Dr Awang Adek Hussin said EPF's investment panel carried out risk assessments and monitored all its investments, in the
form of loans, to ensure they were safe.
"The Finance Ministry screens and approves the panel's decisions. I'm confident high-risk investments would not be made," he said in response to a
supplementary question from Datuk Ismail Kasim (BN-Arau) on Tuesday.
Ismail had wanted to know if EPF was actually monitoring all its investments, especially the high-risk ones.
Awang Adek said there were several experts on EPF's investment panel including Bank Negara deputy governor and Treasury deputy secretary-general.
Answering Azan Ismail's (PKR-Indera Mahkota) initial question on EPF's total loans to corporate institutions, Awang Adek said it came up to RM83.7 billion as of June 2011.
He said RM79.41 billion or 95 percent of these loans were guaranteed as it was to the government, while the balance of RM4.31 billion went to corporate
institutions.
He added that EPF was constantly striving to pay its members higher dividends by ensuring its investments yielded higher returns and did not just
depend on government guarantees. - Bernama
government linked companies and not to high-risk corporations.
Deputy Finance Minister Datuk Dr Awang Adek Hussin said EPF's investment panel carried out risk assessments and monitored all its investments, in the
form of loans, to ensure they were safe.
"The Finance Ministry screens and approves the panel's decisions. I'm confident high-risk investments would not be made," he said in response to a
supplementary question from Datuk Ismail Kasim (BN-Arau) on Tuesday.
Ismail had wanted to know if EPF was actually monitoring all its investments, especially the high-risk ones.
Awang Adek said there were several experts on EPF's investment panel including Bank Negara deputy governor and Treasury deputy secretary-general.
Answering Azan Ismail's (PKR-Indera Mahkota) initial question on EPF's total loans to corporate institutions, Awang Adek said it came up to RM83.7 billion as of June 2011.
He said RM79.41 billion or 95 percent of these loans were guaranteed as it was to the government, while the balance of RM4.31 billion went to corporate
institutions.
He added that EPF was constantly striving to pay its members higher dividends by ensuring its investments yielded higher returns and did not just
depend on government guarantees. - Bernama
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Risk Watch Malaysia at risk to China slowdown
» New lending rules for banks in Q3
» IMF denies report on $600 bln lending facility
» Personal finance lending grows
» 'Banks finetuned responsible lending policy'
» New lending rules for banks in Q3
» IMF denies report on $600 bln lending facility
» Personal finance lending grows
» 'Banks finetuned responsible lending policy'
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|