September 19, 2014 5:40 PM ET

Capital Markets

Company Overview of Employees Provident Fund of Malaysia

Company Overview

Employees Provident Fund of Malaysia is a national social security organization that provides retirement benefits to its members through management of their savings. The organization was founded in 1951 and is based in Kuala Lumpur, Malaysia.

EPF Building

Jalan Raja Laut

Kuala Lumpur,  50350

Malaysia

Founded in 1951

Key Executives for Employees Provident Fund of Malaysia

Head of Domestic Equity Department
Head of Equity Research Department
Head of Overseas Equity Department
Age: 56
Head of Quantitative and Performance Analysis Department
Compensation as of Fiscal Year 2014.

Employees Provident Fund of Malaysia Key Developments

Khazanah Nasional May Reportedly Sell Westports Stake

Khazanah Nasional Berhad may sell some stake in Westports Holdings Berhad (KLSE:WPRTS). According to the news report, Khazanah Nasional is said to be looking to divest its stake in Westports. Sources said that Khazanah Nasional was looking at placing out its entire 4.74% shareholding in Westports to other funds through a book building exercise. The report mentioned that although the funds were not identified, Westports’ current shareholders include AIA Bhd., Hwang Investment Management Berhad, and InterCloud Systems, Inc. (NasdaqCM:ICLD) (Genesis Group). Other related funds are Kumpulan Wang Persaraan, Employees Provident Fund of Malaysia, Skim Amanah Raya Saham Bumiputera, Lembaga Tabung Haji, and Permodalan Nasional Berhad. A source added, “(Khazanah) may sell some or all of its shares. For them, Westports is not exactly a strategic asset as their stake in the company is rather small.” The source further added that Khazanah could be divesting because its investment in the port operator had “matured”, as the share price has risen above the initial public offering (IPO) price of MYR 2.5. Another source said Khazanah could retain some shareholding for future divestment, adding, “Khazanah may be seeking higher returns from other assets,” the source said, “But it doesn’t need to sell out of Westports to do that because Westports is still an attractive yield play.” Westports’ share price closed at MYR 1.9 on September 5, 2014.

EPF Denies Interest In RHB And CIMB And MBSB Merger

Employees Provident Fund of Malaysia (EPF) has reiterated that it has not been part of any discussions regarding the proposed merger of CIMB Group Holdings Berhad (KLSE:CIMB) and RHB Capital Berhad (KLSE:RHBCAP) and Malaysia Building Society Bhd (KLSE:MBSB) to create the country's largest bank. In a statement Friday, EPF said it has merely asked the RHB board to consider the fund's unique position as the guardian of the rights and savings of 14 million working Malaysians, who deserved a voice in determining the future of their investments. "We regret that the actions of these parties seemed to be designed to place the EPF in an unfavorable light and pre-emptively prevent an impartial discussion of the legitimate voting rights of a shareholder. This unique situation deserves close and careful consideration as any decision to the contrary would severely impede the EPF in carrying out its mandate to serve the Malaysian public at large," the statement said. The statement came in response to the articles by The Star and The Edge Financial Daily on September 5, 2014, which had reported on leaked information in relation to EPF's voting rights for the proposed merger. "We find it shocking that certain parties have unscrupulously distributed confidential correspondence and discussions at board level to members of the media. Their actions are unacceptable under Malaysian law and market practice and a clear breach of trust and professional duty," it said.

Employees Provident Fund Announces Earnings Results for the Second Quarter Ended June 30, 2014

Employees Provident Fund announced earnings results for the second quarter ended June 30, 2014. The fund reported a double-digit growth of investment income at MYR 10.40 billion for the second quarter ended 30 June 2014, a year-on-year growth of 13.47% compared with MYR 9.16 billion recorded in second quarter of 2013. Income from loans and bonds were generating MYR 1.85 billion in returns. This represented an increase of MYR 323.80 million or 21.23% rise against MYR 1.53 billion recorded in the same quarter in 2013.

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To contact Employees Provident Fund of Malaysia, please visit www.kwsp.gov.my. Company data is provided by Capital IQ. Please use this form to report any data issues.

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