PETALING JAYA: Datuk Seri Dr Wee Ka Siong has termed the Employees Provident Fund (EPF)'s reason for selling its MAHB shares as “weird”.
Dr Wee said it is strange for EPF to claim it sold shares to pay dividends when it collects RM19bil monthly, totalling over RM100bil annually.
He questioned what happened to EPF's RM1 trillion assets accumulated through prudent investments in blue chips.
"Is the situation so bad that EPF needs to sell MAHB shares to pay dividends? This is a strange argument," said Dr Wee in a Facebook post on Sunday (Jan 19).
"Is EPF saying it did not receive substantial dividends from blue chip investments? That does not make sense," he added.
Dr Wee asked why MAHB shares were sold at a lower price and bought back at a higher price of RM11 per share.
He said not all EPF contributors withdraw dividends, totalling RM57.81bil annually, simultaneously, as withdrawals occur during retirement.
Dr Wee then added that EPF's profits are higher than the dividends paid to members, eliminating cash flow issues.
"Be honest about the reasons for selling MAHB shares, as people cannot be used as pawns," added Dr Wee.
@drweekasiong Part 3 : Persoalan mengenai "Chinese Wall" KWSP dan siapa pula pertikai harga RM11 sesaham melalui General Offer yang ditawarkan sendiri oleh KWSP dan Khazanah Nasional? Video part 4 menyusul... ♬ original sound - DrWeeKaSiong
