SHAH ALAM: The Employees Provident Fund’s (EPF) overseas investments have shown positive figures with contributors receiving high returns, said Finance Ministry Strategic Communications Director Datuk Lokman Noor Adam.
He said the EPF’s achievements proved that it did not make unwise investments, instead it took into account the risk factor before making any investment decisions.
“In business and investment, the EPF takes into account the risk factor, sometimes we got small profits from our investments as the risks were minimal.
“But we also reaped huge profits from certain investments but they were a bit risky,” he told a press conference after launching the Malaysia International Business Awards (Miba) and Selangor Excellence Business Awards (Seba) here yesterday.
He was commenting on the opposition’s criticism over EPF’s investments in the United States. To date, the EPF has invested nearly US$7 billion in equity in the US.
On another note, Lokman said the EPF had invested RM200 billion out of its capital of RM747 billion in 39 countries in order to earn good returns.
Meanwhile, Selangor Malay Chamber of Commerce Malaysia (DPMMS) President Mohd Fadzli Mustafa said the inaugural Miba organised by DPMMS would be held simultaneously with the fourth Seba on November 14 at the Shah Alam Convention Centre here.
Miba was introduced to highlight local entrepreneurs who are successful in the international arena, he said, adding that DPMMS expects to receive over 100 nominations during the one-month nomination period starting yesterday.
The awards feature 12 categories and the public can serve www.seba.com.my for more information. — Bernama