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EPF buys more shares in Proton, Govt use OUR money to buy Proton!
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TSnexona
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 Jan 26 2007, 12:12 PM, updated 19y ago
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QUOTE EPF buys more shares in Proton
KUALA LUMPUR: The Employees Provident Fund (EPF) has acquired an additional 830,000 shares in Proton Holdings Bhd on the open market, raising its stake to 69.25 million shares, Bursa Malaysia said.
The exchange did not provide the value of the transaction, which was done between Jan 5 and 12.
Bursa also said the EPF had disposed of 678,000 shares in SP Setia Bhd on Jan 15 and 16, reducing the pension fund's stake in the property developer to 57.38 million shares. - AFX-Asia The fact is, Malaysia has no capability to produce car to compete globally, not to mention to survive locally. Sad to see these incompetent trying to protect each other for their own interest.  |
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Zzz...
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Jan 26 2007, 12:19 PM
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It's just a matter of time b4 Proton runs out of saviors.... unless Proton's mentality changes, Perodua will remain our country's only beacon of hope.
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pcdoctor_my
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Jan 26 2007, 01:07 PM
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Here's another idiotic thing that EPF had done. EPF nearly conned of RM15m over defunct companyThursday January 4, 2007» Click to show Spoiler - click again to hide... «
EPF nearly conned of RM15m over defunct company
By LOURDES CHARLES
KUALA LUMPUR: The Employees Provident Fund (EPF) almost paid RM15mil for a wound-up company worth less than RM700,000.
Fortunately, certain individuals tipped off EPF officials, prompting them to halt the deal and conduct an in-depth due diligence and investigation into the matter.
However, the EPF had already paid a refundable 10% or RM1.5mil deposit.
It is learnt that a man had approached the EPF investment division and offered to sell an 80% stake in the company, which had entered into a lucrative joint venture with an American company.
The American company is the largest distributor of liquid products to several fast food outlets worldwide.
The man managed to convince EPF officials of guaranteed profits for 2005, 2006, and 2007.
Unsuspecting EPF officials, impressed with the figures and guaranteed returns for the next few years, then signed a term sheet for the proposed investment and paid the RM1.5mil.
Sources said the company had been ordered to be wound up by the courts by then but the man, who had also been forced to resign as the managing director, still went ahead with his proposal to the EPF.
They said the man was also not only no longer the corporate representative of the company but also only owned 30% equity in the company.
A local bank had valued the total shares of the company at about RM700,000 while EPF had been duped to pay almost 28 times more than the valued amount.
Several directors of the company, who were alerted about the sale of their company, wrote to the EPF and tipped them off about the scam
It goes to show, how intelligent the top managment in the EPF department is. RM 15m is no joke. Our retirement money is there. Who knows, they could tell us at the counter "Maaf encik, kamu tidak boleh keluarkan duit saraan anda sebab kami tiada duit". This post has been edited by pcdoctor_my: Jan 26 2007, 01:10 PM |
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shackks
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Jan 26 2007, 01:36 PM
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no matter wat they do, we're still gonna get our $$ in the end of the day.
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azxel
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Jan 26 2007, 02:12 PM
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moological mooster
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glad to see where 10% of my salary goes to...
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Chartry
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Jan 26 2007, 02:18 PM
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Maybe its sign Proton would be sold to foreign car-makers. buy it now and later sell it at a higher price to them.
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tester1979
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Jan 26 2007, 02:18 PM
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that's 11% for me......
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Drian
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Jan 26 2007, 02:38 PM
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no wonder epf is only making less than 1% higher than FD only.
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Drian
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Jan 26 2007, 02:38 PM
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double post
This post has been edited by Drian: Jan 26 2007, 02:39 PM
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Jasonist
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Jan 26 2007, 02:51 PM
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oredi saw a pool of shit in front, they still wana step onto the shit... stupid and awful strategy...
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BuFung
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Jan 26 2007, 02:53 PM
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using so much of $$ to buy worth nothing company.. u know where is all the.. ophs.. is OUR money go to..
some more they merge the Account 3 to account 1 .. now they have more $$ to spend....
I will surely take out all the Account 2 $$ when I wanna buy house..
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kotak
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Jan 26 2007, 02:59 PM
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Getting Started
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me also thinks that soon vw will buy over proton...so epf buy proton shares now and sell it back later at a higher price.....cz i dont think they will simply buy shares without thinking.....
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tester1979
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Jan 26 2007, 03:11 PM
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QUOTE(kotak @ Jan 26 2007, 02:59 PM) me also thinks that soon vw will buy over proton...so epf buy proton shares now and sell it back later at a higher price.....cz i dont think they will simply buy shares without thinking..... well....like that I have to go to buy the share also lah....then I also make thousands and thousands of ringgit....... if only it was that easy....... |
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CooShyRee
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Jan 26 2007, 03:50 PM
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QUOTE(Zzz... @ Jan 26 2007, 12:19 PM) It's just a matter of time b4 Proton runs out of saviors.... unless Proton's mentality changes, Perodua will remain our country's only beacon of hope. funny u should say that.. coz i never see perodua as our savior   |
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ihawk98
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Jan 26 2007, 06:00 PM
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is that all it takes to convince EPF to buy into a company? EPF doesn't do it's own due diligence on investments of this magnitude?.....brave!
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car_o_scope
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Jan 26 2007, 06:05 PM
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G is still trying to provide a wheelchair whereas Plotong already has a few tongkats. Why always use EPF, Petronas etc etc to take over ailing companies? Aren't that risky?
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Kerry1136
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Jan 26 2007, 06:13 PM
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I'm starting to feel ashamed of driving a proton =.='
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iRonTech
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Jan 26 2007, 06:15 PM
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QUOTE(car_o_scope @ Jan 26 2007, 06:05 PM) G is still trying to provide a wheelchair whereas Plotong already has a few tongkats. Why always use EPF, Petronas etc etc to take over ailing companies? Aren't that risky? QUOTE(Kerry1136 @ Jan 26 2007, 06:13 PM) I'm starting to feel ashamed of driving a proton =.=' OBJECTION !!! OBJECTION EPF buys more shares in Proton !!! (as EPF member entitle right for objection right? ) This post has been edited by iRonTech: Jan 26 2007, 06:15 PM |
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dstl1128
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Jan 26 2007, 06:46 PM
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1. If Proton die, it might be taken over by foreigner, malu for the Gov, and no more fast-cash for Gov's own people. And also will become a case-study for industrial incompetence. 2. If Proton is near death, it might even sell of Lotus. So no more Lotus sticker, so cannot boast its cars as "Lotus Handling", no more "My First Lotus". QUOTE funny u should say that.. coz i never see perodua as our savior Our savior will be The One that sacks all the high incompetence gov officials (which I think should be all of them) and political money vampires, including position as high as country's PM. Just like what Thailand just did. Oh and confiscate all their mansions and excotic cars, and force them stay under atap roof or stay with flood victims. |
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Quote
hmmm...its great to know that all of us actually 'OWNED' a car company 
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