CalPERS' divestment shows lack of insight: Malaysia.

Japan Weekly Monitor, February, 2002

KUALA LUMPUR, Feb. 22 Kyodo

The decision by the California Public Employees Retirement System (CalPERS) to withdraw its investment from Malaysia and other Southeast Asian nations demonstrates a lack of insight, Malaysia said Friday.

''The Malaysian government is surprised that CalPERS has decided to divest its investment from our Southeast Asian nations, including Malaysia,'' said Mustapa Mohamed, executive director of the government's National Economic Action Council (NEAC).

''Malaysia feels that being a relatively new player in the region, CalPERS may not have a complete insight into the potential investment value of Southeast Asian emerging markets such as Malaysia,'' he said.

CalPERS, the largest U.S. public pension fund and...