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EPF loaned RM55bil without gov't guarantee backing

The Employees Provident Fund (EPF) approved loans worth an astounding RM55.1 billion not backed by government guarantees.

However, the Auditor-General’s Report 2010 found only one of the 13 debtors was qualified to obtain a loan without such a guarantee. That particular debtor was extended credit worth RM21.3 billion.

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