Why is MY EPF money being loaned to Valuecap?
So that the capital can be injected into buying shares in the local bourse?
EH! My (& everyone's) EPF is damn HARD EARNED. As it is, with the way EPF is mysteriously being managed, I awreddy damn scared I won't see a cent one day. Don't lie to me. You same same as me right?
Now the Govt's forcing me indirectly to buy shares?
I don't "play" the market for many good reasons. You can say Religious, you can say Prudence. I don't care nor do I condemn those who "invest" in the bourse. (Aiyah. Let's face it. How many are long term investors in the bourse leh?)
You play, you win, you lose at your own great fortune or your own risk.
But using MY pension funds to berjudi macam ni?
Also - how would I know that Valuecap will use the EPF injection to buy real, worthwhile, bluechip stocks? Who is gonna bet with me they won't save the stocks of those with the right political links?
Also. Valuecap already got Khazanah, & Permodalan as shareholders right? So why don't K&P inject more into Valuecap if it's such a smart, viable option ?
My take on life is simple
Idiots who got themselves rich, can get themselves poor again. Just don't take my money. I have No say in the process to get you into any situation
Idiots who mismanaged companies in the first place should be arrested & have all illgotten gains returned to the company so that qualified professionals with a good record can run the company & hopefully make it work
I don't understand why we must continue to bail out incompetent managers, incompetent idiots, & cronies.
Tell me people. What would you rather do with your EPF money?
Bail out Banks?
Bail out Companies (ie buy shares) or
Get your money back & you manage it yourself?
I can't wait until the day I can take my EPF money out!