"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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