EPF is said to be ready to fund RM5b, (out of the total RM10b required) at an undisclosed rate to Prokhas, the government-owned special purpose vehicle that is administrating two schemes under the second economic stimulus package totaling RM60b, announced in March 09.
The two schemes which are under the purview of Ministry of Finance, are known as Working Capital Guarantee Scheme and Industry Restructuring Loan Scheme respectively. They are allocated with RM5b each.
EPF's talks with Prokhas may draw some criticism, as loans to government agencies and corporations have in the past been called bailouts for poorly performing local companies by critics and the resurgent opposition.
In 2008, the government said it would transfer 5 billion Ringgit from the (EPF) to state owned fund manager Valuecap to be invested in undervalued Malaysian stocks.
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