EPF holds the key in MISC buyout

WITH the independent adviser on Petroliam Nasional Bhd's planned buyout of MISC Bhd recommending that shareholders accept the offer, all eyes are on the Employees Provident Fund (EPF). The provident fund has already said it viewed the offer as being too low. And it has all the right to do so.

Its decision to speak out sends the right message to millions of its members. Last Friday, AmInvestment Bank Bhd, the independent adviser to the minority shareholders of MISC, said while the offer was not fair, it was reasonable.