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In simple language, it is a clear attempt to sabotage the country’s economy and appears that foreign elements such as Sarawak Report are quite fond to be the notorious agent inciting suspicions and induce distrust towards our strategic government agencies such as Permodalan Nasional Berhad (PNB) and the Kumpulan Wang Simpanan Pekerja (KWSP) which are meant to generate profitable investments.

To make the story seems juicier so that the rakyat is irked, the alleged investment was done under pressure from the government.

It is truly ridiculous that PNB and EPF bought commercial assets at Phase 2 of Battersea Power Station (BPS) project at a price of 1.608 billion pounds (RM8.76 billion) which is 1,000 times more expensive than the original price. With malice political motives to undermine the rakyat’s confidence towards the ruling party Barisan Nasional, Sarawak Report had published an unfounded article and deliberately picked by the pro-opposition media and later disseminated through social media and so forth.

PNB and EPF had held a joint press conference to explain that plans to purchase assets in London are concluded independently without involving any government intervention.They are committed and has always upheld the support and trust of unitholders, contributors as well as Malaysians that any investment decisions are meant to benefit them and not for any other reasons.

PNB Chairman Tan Sri Abdul Wahid Omar, a prominent corporate figure and a “no-nonsense” former minister, has also issued his statement to fend off efforts to thwart the investment plan. To him, it is none other than a malicious attempt and is convinced by the motives as there are certain parties who are dissatisfied with the Malaysian Consortium success to favourably redevelop the BPS iconic building, hence they had to distort the issue.

The BPS was developed by Konsortium Malaysia comprising of Sime Darby Bhd, SP Setia Bhd and EPF. Basically, an idle land value cannot be compared to the value of developed property projects and a good rental. As such, the Phase 1 of the residence is already completed and garnered with huge profits while BPS main commercial building involving major shopping malls and offices whereby Apple and other world giants have already agreed and signed to lease an area of 500,000 square feet.

PNB and Kumpulan Wang Simpanan Pekerja (KWSP) will buy the building after completion with tenants and lucrative results despite that there are other parties who have shown interests. However, the developer is more interested in Konsortium Malaysia. All decisions for this investment are concluded by the Board of Directors of BPS and the management team from PNB and KWSP.

Battersea investment covers an area of potential future in London. The US Embassy also has just moved into the neighbourhood in Nine Elms. The Thames water taxi service is now operational. An additional line of Northern Line trains is currently under construction plus the Battersea underground stations are also in zone one.

The indictment made by Sarawak Report that this Battersea investment is linked or instructed by the Ministry of Finance is absolutely incorrect. PNB and EPF always hold the trust of investors and contributors who are Malaysians. Now, can we understand why Sarawak Report had to spin their stories?




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