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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

Billions at risk if tax act amended to allow investment panel, says PKR lawmaker

Posted on 13 June 2014

Billions of taxpayers’ money are at risk of being used to buy stocks, bonds, debts and properties under a proposed amendment to a tax law allowing for an investment panel that could be as secretive as 1MDB, PKR lawmaker Wong Chen (PKR- Kelana Jaya) said.
“What if our tax money is used to buy shares to support and prop up a crony company? What if the investment panel decides to support the opaque and questionable 1MDB listing?” he said in referring to state-owned sovereign fund which is planning to raise US$4.6 billion (RM15 billion) through an initial public offering of its power-generation assets………………………………………..Full Article: Source


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