Bursa Malaysia has queried, among other things, the basis and justification for Berjaya Land Bhd’s purchase price of RM8.01 million per acre or RM184 per square foot for 57 acres of Penang Turf Club land.
It looks as if we have to wait a bit longer to find out who has clinched the bid to take over Khazanah Nasional Berhad’s 32 per cent stake in Pos Malaysia.
Recently a news report revealed that fund managers were in agreement that it is unhealthy for the Employees Provident Fund (EPF) to dominate 50 per cent of the daily trading on the local stock market. This raises an interesting question.
Najib had said the EPF’s dominance in Bursa is “not healthy” for the local stock market or for the EPF. This is cited as one of the reasons for allowing the EPF to invest up to 10 per cent abroad.
The EPF’s total funds amount to RM370 billion with a quarter invested in Bursa. The total daily value of transactions on Bursa can surpass RM1 billion per day. Today, for instance, it was RM1.03 billion.
And now the interesting question: