Fraudster hospital deal: EPF refutes Sarawak Report postings

The Employees Provident Fund (EPF) has strongly refuted the statements by Sarawak Report on its blog and Facebook page today.

In a statement, EPF said it has never had any dealings nor entered into any agreements of any sort with Limage Holdings SA, Limage Southwest Holdings, the individual known as Matrai or any parties as stated by Sarawak Report.

“As such, no transfer of bonds nor funds of any kind to any of the aforementioned companies, parties or individual could have occurred as alleged,” it said.

According to EPF, a fake ‘Letter of Indemnity’ dated Aug 20, 2015, addressed to Gyorgy Matrai of Limage Holding SA alleging an agreement between the EPF and Limage Holdings SA was made known to the EPF on Oct 26, 2015.

“As this was clearly a falsified document, the EPF lodged a police report on Oct 28, 2015.

“A ‘Letter of Award’ (LOA) titled ‘Development and Construction of Integrated Medical City Project For EPF’ from TripleNiceTales Sdn Bhd dated May 18, 2015, was made known to EPF on Feb 24, 2016,” it said.

As there were third parties misusing EPF’s name and suspicion of fraud was involved, EPF said, it lodged a police report on Feb 26, 2016, stating that it has no knowledge or involvement in the transaction referred to in the LOA.

“The involvement of Ladylaw Securities Pte Ltd and Nic Manikis was made known to EPF on Jan 20, 2017, and a police report was made on Jan 23, 2017, stating that EPF has no knowledge nor was involved in any investment transaction with Ladylaw Securities nor Nik Manikis,” EPF said.

The fund said any schemes of these nature would not pass its strong and robust governance framework.

“Before any investment decisions are made, our governance process requires all proposals to be subjected to stringent risk assessment and due diligence by the management.

“All approvals must go through the Management Investment Committee for endorsement before being put up to the Investment Panel for final approval,” it said.

The Investment Panel comprises industry professionals, senior members of EPF’s management, Bank Negara Malaysia and the government.

“We remain steadfast in fulfilling our mandate to protect and safeguard our members’ savings,” EPF said. - Bernama