The Employees Provident Fund (EPF) and Khazanah Nasional are planning to increase their investment in the United States and buy more Boeing aircraft to help strengthen the country’s economy, Prime Minister Datuk Seri Najib Razak.
According to him, the EPF is expected to invest between US $ 3 billion and US $ 4 billion in the country.
“I would like to say that we came here with a strong value proposition to be submitted. We want to help you strengthen the US economy, “Najib said during a meeting of the Malaysian delegation with US President Donald Trump, here last night.
Najib, who is also the Finance Minister, said the Malaysian delegation had 3 special proposals.
Firstly, he said, Malaysia intends to increase the number of Boeing aircraft to be bought by Malaysia Airlines Bhd (MAB).
“We are committed to purchasing 25 737-MAX 10 planes, eight 787 Dreamliners and there is a great probability, not the possibility, that we will add 24 (or) 25 more 737-MAX 10 in the near future.
“So, within five years, with the additional purchase, the deal will be worth more than US $ 10 billion,” he said.
The 737 MAX 10 will become the most profitable one-lane aircraft for the airline, offering the lowest seats, while the 787 Dreamliner is a twin-engine aircraft with a medium frame for long-haul trips.
The talks with Trump are the highlight of Najib’s working visit to the US from Sept 11-13 at the invitation of the 45th US President who held office on Jan 20 this year.
Najib said the government would also try to persuade the low-fare airline, AirAsia Bhd to buy US-based General Electric engines.
“Both, we have EPF, which is the main pension fund in Malaysia. They have a huge capital to export, they invest nearly US $ 7 billion in equity in the US and they intend to invest an additional US $ 3 billion to US $ 4 billion to support the redevelopment of your infrastructure, “he said.
Najib also said Khazanah Nasional, which has offices in Silicon Valley, California, and has invested about US $ 400 million in high technology companies, is also keen to increase its investment.-BERNAMA