Curiosity, Thoughts and Whatever...
I'm not a regular blogger just occasionally wanna share some thoughts and ideas to the rest of the world. Hope you like what you see and written.....:))
I guess by now its an open secret that EPF had finally won the bid to buy up RHB bank and etc. What I want to know is this a conflict of interest. As far as I know EPF own many other banking shares. So with this is there a conflict of interest ? Most probably EPF had substantial ownership in B.Pertanian and other halal bank as well.
EPF is a Malaysian public pension fun. It has billions and billions of fund and money under its arm. In other words Malaysian public are the shareholders of EPF and it is answerable to the public. EPF is an investment arm of the government and since 2000 we had been getting meagre yearly dividend of around 5% only. Therefore the question is does investing into RHB make a good sound return ? I don't feel its right. Instinct and history tells me pension fund are never good at running banks. If I am not mistaken BSN was a government run bank and now see what happen to it. It is just not professionally run cause there's too many cronies and nepotism going around in there.
Further to all that what happen if RHB make a loss and in consecutive years to come ? What would EPF contingencies plan be ? Did EPF take into account all the worst case scenario and make a complete account audit into RHB ? Well, I believe RHB is a good bank but my doubt lies with whether EPF can successfully manage it just like any other successful business entity. In my honest opinion EPF just had too many external variable which can influence a good decision from being made. There are
1. Government - politically
2. Interest in other sector - very diversify portfolio
3. Many bosses
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