Datuk Seri Najib Razak has shot down the "spin" that Malaysia's huge capital investment here is only beneficial to the United States. (Bernama photo)

WASHINGTON D.C: Datuk Seri Najib Razak has shot down the "spin" that Malaysia's huge capital investment here is only beneficial to the United States.

"I want to explain, there are those spinning as if we are contributing to the US without getting returns.

"That is not true. When we buy Boeing (aircraft), we turn Malaysia Airlines into a more competitive airline. If others have Dreamliners, we also have Dreamliners; this is the transformation and rationalisation of the airline which is working because now, MAS is now in the position to buy planes. That is good for us."

Najib explained that it was also true in the case of the Employees Provident Fund (EPF) investment.

"When we invest in the US (like EPF,) EPF will get returns and this will flow back as dividends to our employees in Malaysia.

"So it's not not a one-way street. They are spinning it as though i am here to buy influence from the US.

"That is totally untrue..a negative spin that is totally untrue."

He also touched on Khazanah's planned investment in the US.

"Why do we invest in high-tech companies? Because we want these companies to be Malaysian-owned because we can then generate more income for the future.

"You have to think ahead. Investing in the US, like just the Americans investing in Malaysia, they are looking to be profitable...we invest here to get profit.

"The fact that we are now becoming a capital exporter is indicative that Malaysia is a successful nation."

Najib said there was no reason to doubt EPF's investment.

"EPF is a very prudent investor. They will never invest unless they get the minimum returns, I can assure you.

"Very very strict criteria is applied by the EPF."

At his meeting with US President Donald Trump at the White House on Tuesday, Najib had said Malaysia intends to increase the number of Boeing planes to be purchased by Malaysia Airlines.

Malaysia, he had said, was committed to buying 25 737 MAX 10 aircraft, plus eight 787 Dreamliners.

He had also indicated strong probability that Malaysia would add 25 more 737 MAX 10 in the near future.

He had also said the EPF also planned to further invest between US$3 billion and US$4 billion in the US.

The EPF had invested close to US$7 billion, in terms of equity, in the US and intends to invest US$3 billion and US$4 billion to support infrastructure redevelopment in the US.

Najib had said that Khazanah, which has an office in Silicon Valley, planned to invest more than the USD450 million it had already invested in high-tech firms.

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