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Monday, 24 July 2017

Huge opportunity Edra Power expected! Rafizi Ramli for Malaysian institutional investors boycott #IPO.

Image result for Rafizi Ramli for Malaysian institutional investors
"The Edra IPO should be seen as a huge opportunity for Malaysians and Malaysian institutional investors to invest in a venture that has brought consistently good earnings given its global footprints," he added.

He said with CGN's track record, Edra could actually decide to go for an IPO in Singapore, Hong Kong or elsewhere but instead chose Malaysia which also meant a massive vote of confidence in the country.

"What is more important is not what an individual politician says about the IPO but what investors think after going through their own due diligence.

"Institutional investors like Khazanah Nasional Bhd and Employees Provident Fund (EPF) have been giving good returns to investors. For example, EPF with five to six percent returns on investment has the expertise to evaluate in deciding to support any IPO," Fauzi said.

The MP recalled that when EPF decided to acquire highway concessionaire PLUS Malaysia Bhd at RM23 billion there was a public outcry but the deal had since netted consistently good returns for some 30 years now.

"Malaysia is but a small country. We need to enter the big stage or else we will be left behind. CGN, for instance, can also go to other countries. Now countries that we once regarded as insignificant economically, like Vietnam and even Laos, are surging ahead.

"So let us not be clouded by this 'political haze' just because some politicians dislike one company and others are also dragged into hating it as well and at the end of the day, the country and the people will stand to lose,” said Fauzi.

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