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Nov 5, 2008

Government happy with Valuecap's progress?

THE government has defended the RM5 billion injection into fund management company ValueCap through a loan from the Employees' Provident Fund (EPF), saying the company has performed well despite an outstanding RM5.1 billion debt.
Finance Minister Datuk Seri Najib Razak said: "The shareholders are happy with the company's performance and they've had some returns in the past. They will decide what is the best way to handle it (debt)."

He said the government was "quite happy" with Valuecap's progress since its investment portfolio had appreciated, adding that the company would help shore up investors' confidence.... selanjutnya.


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