Berhati-hati merancang pelaburan, kata Johari
Johari Ghani (BN-Titiwangsa) memberi amaran terhadap kesan buruk keputusan ‘u-turn’ terhadap pasaran modal.
Read More: https://www.freemalaysiatoday.com/category/nation/2023/10/09/govt-investment-u-turns-will-shake-public-confidence-johari-warns/
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Read More: https://www.freemalaysiatoday.com/category/nation/2023/10/09/govt-investment-u-turns-will-shake-public-confidence-johari-warns/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
Subscribe to our channel - http://bit.ly/2Qo08ry
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NewsTranscript
00:00 It's normal to sell and buy, because we are public funds.
00:04 PNB sells and buys shares is normal.
00:07 I'll give you an example.
00:09 PNB sells equity holdings in a chemical company in Malaysia in November 2020.
00:14 It sells to its partner.
00:16 It gets profit and then invests it back in another company.
00:20 But the profit it gets is dividends.
00:23 So selling and buying is normal.
00:27 For example, Bosted has also sold.
00:29 In March 2019, it sold Royal Culan Bukit Bintang Hotel to investors in Singapore.
00:37 Then it collected money.
00:38 Why?
00:39 The hotel was at a loss.
00:41 So it left and looked for another asset.
00:43 Because we are public funds to invest.
00:47 But if we have a lot of funds,
00:49 every time we buy and save,
00:51 we don't know how to manage the loss,
00:53 and we can't even sell it.
00:55 In the long run, the government will end up owning all these assets that are not profitable.
01:00 If our government has 1.5 trillion cash,
01:05 it's okay, it's 1.5 trillion in debt.
01:07 So I think our priority is to get it right.
01:10 So if something is not in line with the suggestion,
01:14 don't make an announcement first.
01:16 When you make an announcement,
01:17 the investors will agree,
01:21 and give a positive reaction.
01:23 Then we reverse it.
01:24 This is why people are not confident in our capital market.
01:28 The market has already fallen.
01:30 It has fallen from 1,800 to 1,419.
01:36 We have to create this confidence.
01:38 Because the capital market is very important for our business in the country,
01:43 to raise capital in the capital market.
01:45 But if people are not confident in the capital market, it's bad.
01:49 So that's all.
01:51 Thank you.