I have Employees Provident Fund (EPF) savings. EPF meanwhile owns 49% of PLUS Malaysia Bhd. In brief, I own PLUS as well through EPF’s shareholding. As long as PLUS keeps earning profits, EPF keeps getting dividends which meant that I will benefit too. Call me naive if you must but to me PLUS will continue to generate profits year after year. Malaysia has a total registration of 600,000 new cars every year.
Imagine that. Thus, I disagree FULLY with EPF’s current chief executive officer Tunku Alizakri Alias. He said, “PLUS is a very good asset that has given us good returns all these years. We will consider selling our stake if it makes sense to us and could benefit our members.” Full article here. My dear EPF CEO, it will never make sense to sell PLUS unless the gains are invested into another money generating venture and I could not see any other better ones compared to PLUS. If you could, please enlighten all of us yeah. There’s another view from the 51% owner of PLUS.
Article in themalaysianreserve.com KHAZANAH Nasional Bhd, the majority shareholder of PLUS Malaysia Bhd, said it will NOT sell its strategic asset to any party.MD Datuk Shahril Ridza Ridzuan said, “There are many offers from different parties, but our reply to all of them is very simple — we are not interested in selling.”
Besides that, Shahril Ridza said that these parties were offering to buy PLUS at a much lower price than its real value. He said, “If you want to buy (an asset) from the EPF (Employees Provident Fund) or Khazanah, you should offer a fair market price.” He added, “If you want to give discounts, it should be from your profits, not from us.”
Then he says these two sentences. “If PLUS is making profits, it goes back to the government through Khazanah, or to Malaysians via the EPF. So, if you allow private parties to take over PLUS, and those parties make a lot of profits, people are not going to be happy.” The article is a long one. Read it here: Article in themalaysianreserve.com
Remember the story of the goose which lays golden eggs? One golden egg everyday? Well, the owner got greedy and thought that there were more eggs inside the goose? He killed the goose and the golden eggs stopped. As an EPF contributor, I do not need a one lump sum gain or whatever dividend from any new owner. I just want PLUS to continue giving me dividends year after year. That to me is far more important. I hope the EPF CEO will listen to Khazanah’s MD. As for the rest of Malaysians who are EPF contributors, I sincerely hope that you will agree with me. Happy contributing and earning dividends every year.
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