EPF must say no to Petronas

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QUESTION TIME As a long-term investor, the Employees Provident Fund (EPF) should reject Petroliam Nasional Bhd’s (Petronas) offer to buy the shares it does not own in listed shipper MISC Bhd for RM5.30 per share because it considerably undervalues MISC.

Otherwise, EPF, which is the retirement savings repository for over 12 million Malaysian workers and which manages close to RM500 billion of funds, could well lose a golden opportunity to stay invested in what may be one of the most undervalued blue chips on the Malaysian market.

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