Conflicted

A bit disappointed to hear Bursa's decision not to allow EPF to vote in a bank merger exercise. It seems undemocratic for the largest pension fund not able to exercise its rights despite having the most significant economic interest in a three-way merger. Surely whoever in Bursa committee, presumably contributors to EPF too, is educated enough to see the implications of this decision. If it was an individual-controlled company that is conflicted, then it probably makes sense. But this is EPF with millions of contributors' money. My money is in it too.

I think there is no longer a need for EPF to be sentimental about its home market. In a typical Malaysian fashion, foreigners and minorities are always taken care of first, at the expense of majority locals who are at risk. I see no reason for EPF to invest big in Malaysia when its interest is not protected. May be its time for the so-called market premium to narrow down or even turn to a discount. If I had to think what stocks to sell down first, I would recommend Bursa.

Anyway, these are just my own personal thoughts about this issue.