`


THERE IS NO GOD EXCEPT ALLAH
read:
MALAYSIA Tanah Tumpah Darahku

LOVE MALAYSIA!!!


 


Sunday, October 23, 2016

FROM KWAP-SRC TO EPF? FEARS OF ANOTHER MASSIVE NAJIB-LINKED SCANDAL ERUPT AS CASH-COW EPF SEEKS HUGE LOAN

This news has not been reported by Utusan Meloya, Berita Harian, NST or Star. It means the gomen has given instructions to hush things up.
Only the Chinese Press has been playing this up. Messages were flying around that the EPF was borrowing RM12 billion.
The EPF has now clarified that they are not borrowing RM12 Billion. They are only borrowing RM1.2 Billion.  (Such a small amount). Here is EPF’s explanation why they are borrowing, which itself is strange. 
 

 
The news had earlier been reported in the Chinese media.

 
Lets analyse a little.
EPF says they want to borrow RM1.28 billion to protect against forex risks.
This does not make sense. To protect against forex risks you can buy some currency hedging. You can “lock in” a certain exchange rate  for the currency of your requirement. But you cannot lock in the exchange rate forever. They usually run for a few months. 
Some bank must provide this ‘lock in rate’ and they will charge an arm and a leg.  And there are major risks. This was how our Bank Negara lost all those billions of Ringgits. Still have not learnt any lessons?
If the EPF wants to refinance its assets in the UK, then they should be borrowing in UK Pounds. Not Ringgits. If you borrow Ringgits to refinance Pound Sterling it does not make good sense. This is what happened in the 90s economic crisis. Local corporates borrowed in US Dollar when their earnings were in Ringgit. A bad example : TNB.
Unless the EPF is borrowing in Pounds from DBS and Stanchart Banks.
 
So the cat is out of the bag – refinance means the EPF borrowed to acquire those assets. 
 
Borrowed in Ringgit or in Pounds? 
Oops.  Tapi kenapa nak rahsia sangat? Duit orang lah. 
http://syedsoutsidethebox.blogspot.my/

2 comments:

  1. SALAM KENAL SEMUA,SAYA PAK AGUS TONO DARI MALAYSIA
    CERITA YANG BENAR BENAR TERJADI (ASLI) BUKAN REKAYASAH!!!

    TERIMA KASIH BANYAK MBAH SERO SUDAH 3 TAHUN SAYA MENDERITA DI MALAYSIA KERJAAN SAYA CUMA MENOMBAK KELAPA SAWIT PENDAPATAN TIDAK SEBERAPA SEDANKAN SEWAH KONTRAKAN RUMAH 700 RIBU PERBULAN TAPI SETELAH KAMI DAPAT NOMOR MBAH DI INTERNET KAMI COBA-COBA HUBUNGI LALU MINTA BANTUAN ANGKA GHOIB DAN ALHAMDULILLAH ANGKA YANG DIBERI MBAH SERO LANSUNG TOTO 6D BENAR-BENAR 100% TERBUKTI TEMBUS SEKALI LAGI TERIMA KASIH MBAH SERO RENCANA MAU PULANG KE INDO BUKA USAHA INI SEMUA BERKAT BANTUAN ANGKA GHOIB MBAH SERO BAGI ANDA YANG INGIN MERUBAH NASIB SEPERTI SAYA HUBUNGI MBAH SERO DI NOMOR 082 370 357 999 TERIMA KASIH..!!! INI KISAH NYATA DARI SAYA..

    ReplyDelete
  2. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
    11.Monthly Income…………..
    12.Email……………..

    Regards.
    Managements
    Email Kindly Contact: urgentloan22@gmail.com

    ReplyDelete

Note: Only a member of this blog may post a comment.