1MDB repaying EPF on time, says gov't

State investment fund 1MDB has been paying dividends on EPF’s investments on the fund on time, according to the Ministry of Finance.

In a parliamentary written reply dated March 22, the ministry said EPF had subscribed to RM200 million worth of bonds issued by 1MDB in 2009.

“This bond has a low-risk profile because it is fully guaranteed by the government of Malaysia. To date, 1MDB has fulfilled all obligations to pay dividends to EPF within the stipulated time at a rate of 5.75 percent per annum,” it said.

The ministry was responding to a question from Mahfuz Omar (Amanah-Pokok Sena), who asked how much has EPF invested in “problematic” companies such as 1MDB and Felda Global Ventures (FGV).

He also asked about the repayment process and the returns paid to EPF.

The Finance Ministry said EPF internal fund managers don’t have a stake in FGV as of Dec 31, 2017.

However, it said EPF’s external fund managers have “various strategies” and hold a 0.71 percent stake in FGV. - Mkini