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Second - guessing valuecap

Malaysian Business, 2008-11, p.18

Copyright New Straits Times Press, Ltd. Nov 16, 2008 ;ISSN: 0126-5504

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  • Title:
    Second - guessing valuecap
  • Author: Chong, Yvonne
  • Subjects: Annual reports ; Equity stake ; Stock exchanges ; Stockholders
  • Is Part Of: Malaysian Business, 2008-11, p.18
  • Description: `Then again, the RM5 billion would have a multiplier effect that is larger than its actual sum as the buying activity or even anticipated buying activity by Valuecap could lift sentiment and push the KLCI higher,' it said in a report. The thin liquidity on Bursa Malaysia would also see the RM5 billion having a multiplier effect. Nonetheless, with the general lack of information on its activities, public and trade bodies such as the Malaysian Trades Union Congress (MTUC) are understandably vexed when Deputy Prime Minister-cum-Finance Minister Datuk Seri Najib Razak confirmed that the RM5 billion injection would come from the Employees Provident Fund (EPF), in the form of a loan. MTUC questioned why, with other sources of funds available, Valuecap should touch the rakyat's funds. On Nov 11, Nor [Mohamed] put to rest the loose talk when he told Parliament that Valuecap shareholders had agreed to refinance the outstanding RM5.1 billion loan. He also said Valuecap had settled the loan interest within the specified period and at the same time paid dividends to its shareholders.
  • Publisher: Kuala Lumpur: The New Straits Times Press (M) Berhad
  • Language: English
  • Identifier: ISSN: 0126-5504
  • Source: AUTh Library subscriptions: ProQuest Central
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