EPF must be utilised for the sole benefit of the nation poor work force and not any other organisation. It would appear that the Government is treating EPF as a financial ambulance for the stock market and certain selected GLCs. Last week the Government has utilized RM5 billion from EPF to bail out Valuecap in order to support the stock market. Second Finance Minister Nor Mohamed Yakcop has the cheek to give assurance that the RM5 billion loan given by EPF would reap profit. No one seems to know what Valuecap, a new corporate entity, is and who is behind this new entity.
