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Sunday, March 15, 2015

NO WAY we will let Najib force EPF, other public pension funds, agencies to buy into 1MDB IPO

NO WAY we will let Najib force EPF, other public pension funds, agencies to buy into 1MDB IPO
PKR vows to push for a court injunction if the government attempts to get state agencies to subscribe to 1Malaysia Development Berhad (1MDB)'s initial public offering (IPO) for its energy arm.
Its secretary-general Rafizi Ramli said the injunction will be sought to stop the Employees Provident Fund (EPF) or any other public bodies holding public monies from partaking in the IPO so taxpayers’ money will not be used to ease 1MDB’s cash flow problems.
The Finance Ministry last week said that the IPO planned later this year can solve 1MDB's cash flow and help the state-owned investment firm pay off its loans which now amount to RM42 billion.
"We will do our best to file an injunction against EPF, or any other bodies, if there is an IPO, so that public funds will not be used to subscribe to the 1MDB IPO," Rafizi said.
He said this at a packed forum on 1MDB in Petaling Jaya today, attended by more than 700 people. - M'kini

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