Najib arrives in Malaysia after working visit to US

Najib arrives in Malaysia after working visit to US

Prime Minister Datuk Seri Najib Tun Razak said Malaysia's state-owned Employees Provident Fund and Khazanah Nasional Bhd's move to increase investments in U.S. assets was expected to reap huge returns as the money will be invested in infrastructure redevelopment and technology companies there. When we buy Boeing (aircraft), we turn Malaysia Airlines into a more competitive airline.

Najib also announced the Employee Provident Fund's (EPF) intention to expand its investment by US$3 billion to US$4 billion in the USA on top of its existing investment of nearly US$7 bilion. "So it's not a one-way street".

The Prime Minister said the EPF had been investing in the United States and European stocks over the years to raise the dividend rate for its contributors, and his meeting with Trump was to increase investment opportunities for the government's social security institution. "Especially given that we need to strengthen our country's own economy at least to realise the Vision 2020", it said in a statement yesterday.

Asked about the significance of his meetings with May, as well as US President Donald Trump at the White House earlier this week, Najib said: "Very, very significant because these superpowers recognise and accept Malaysia as a significant global player, and our views are noted and given serious consideration, including by Trump". Malaysia is committed to buying 25 737 Max 10 aircraft and eight 787 Dreamliners, he said.

The EPF is expected to invest between US$3 billion (RM12.57 billion) and US$4 billion (RM16.76 billion) in the US.

"I also received assurance from the United Kingdom prime minister on humanitarian assistance for the Rohingya who have fled to Bangladesh from Myanmar and Rakhine state, that these people will be assisted by the worldwide community".

While the opposition and some sections of the USA media had criticised the visit, Mr Najib said that the warm reception by Mr Trump and senior administration members such as Vice-President Mike Pence and State Secretary Rex Tillerson had proved the criticisms wrong. "If we are a failed state, it would have been impossible to get the recognition from Trump", said Mr Najib. The prime minister estimated the potential deal at $10 billion.

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