We are just worried about PNB being too ambitious in trying to be a mega property developer, which it is not supposed to be in the first place, and going into the unknown in terms of size, led by self-serving politicians. PNB, please stick to your fund managerial role which you have experience as well as the advantage of being able to 'pick and choose' with the right of first refusal.
EPF made a big mistake by going into property development via MBSB when it should be doing mainly housing loans. Even Sime Darby, with its vast experience in business, made mistakes by going into banking and construction without proper internal controls.
We have had enough of examples of mega projects gratifying ruling politicians and cronies in mega ways, with the end results of the government (ie. taxpayers) picking up pieces as well as the tabs.
EPF made a big mistake by going into property development via MBSB when it should be doing mainly housing loans. Even Sime Darby, with its vast experience in business, made mistakes by going into banking and construction without proper internal controls.
We have had enough of examples of mega projects gratifying ruling politicians and cronies in mega ways, with the end results of the government (ie. taxpayers) picking up pieces as well as the tabs.
If only politicians stick to governing with good governance and fund managers stick to picking good stocks without self-interest, Malaysia would have been much healthier financially.
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