A lot depends on point of view I guess, but today's headlines by the Star is quite frightful to me... but not in the way that many, including the reporter, may think. In my mind, the idea that there are "conmen" and many other creatures out in the market to make a quick buck is obvious.
Now what really alarmed me was that it took some good samaritans to "tip off" EPF before they embarked on an in-depth due diligence! RM 15 million to my mind is substantial money. And in my wildest dreams, I always considered that EPF would be run by at least competent fund/investment managers if not excellent ones. It is afterall the rakyat's hard earned savings we are talking about here.
How is it that a company that has been ordered to be wound up by the courts is still valued by EPF with all its clout and government mandate at 28 times its last "valuation" escapes all my human faculties.
How then can EPF be trusted to handle the billions at their disposal? Or is "dispose" the operative word in this case?
