Dr M once encouraged EPF to invest abroad, says Najib

Prime Minister Najib Abdul Razak recalled today that Dr Mahathir Mohamad had once encouraged the Employees Provident Fund (EPF) to invest abroad.

"(Mahathir) lies about the EPF even. I have a record of Mahathir saying, on April 26, 2005, that the EPF should invest abroad so that depositors can get more dividends," Najib said.

He was speaking to about 1,000 supporters who greeted him at KLIA, following his return from the US and UK.

It was likely that Najib was referring to an Utusan Malaysia article published in 2005.

Yesterday, Mahathir mocked Najib's speech to the White House, in which Najib stated that Malaysia intends to help "strengthen" the US economy.

Mahathir was among many critics who panned Najib for announcing that the EPF would increase its investment in its US equity by between US$3 billion to US$4 billion to "support (US) infrastructure redevelopment".

Najib today said that such investments abroad would result in profits that can be brought back home.

Blames Dr M for MAS' woes

He said that the profits EPF made from its overseas investments were more than what it made locally.

He also said that if the EPF invested all its money in the local stock exchange, no one else could buy stocks.

Meanwhile, on Malaysia Airlines (MAS), Najib said the carrier's decision to purchase Boeing aircraft was its own, and that he simply relayed the message to US President Donald Trump.

Najib had told Trump that MAS would procure 25 Boeing 737 Max 10 jets and eight 787 Dreamliners.

Addressing his supporters, Najib said all airlines had only two realistic choices when it comes to purchasing aircraft, that is either Boeing, or Airbus.

He then took another dig at Mahathir saying that he had created a mess with MAS that the government had to clean up.

"MAS problems stem from Mahathir. Who decided to privatise MAS and forced the government to buy it back for three times the market price?

"Whose angkara (misdeed) is this? Now we (the government) are saving MAS!" he said. - Mkini