EPF records RM46m profit from selling six retail properties

The Employees Provident Fund (EPF) made an RM46 million profit from selling its six retail properties in Klang Valley and Johor.

Deputy Finance Minister Ahmad Maslan said EPF was also planning to sell another retail outlet in Kelana Jaya to a government-linked company.

“The six retail properties sold are the buildings of Giant Bandar Kinrara, Giant Putra Heights, Giant USJ, Giant Klang, Giant Ulu Klang and Giant Plentong, Johor, with a profit of RM46 million.

“We are selling these assets to Sunway Real Estate Investment Trust Berhad, which is 15.24 percent owned by EPF,” he said, during the question and answer session in Dewan Rakyat, today.

He was replying to Ikmal Hisham Abdul Aziz (Perikatan Nasional-Kuala Terengganu), who wanted to know the proceeds from selling six EPF retail units in Klang Valley and Johor.

He also asked whether EPF intended to dispose of another retail unit in Klang Valley, as reported, apart from planning its next investment.

Responding to a supplementary question from Ikmal on whether EPF plans to invest in financial technology or FinTech, which has attained Unicorn status, Ahmad said the investment committee will conduct a study on this proposal.

Meanwhile, Ahmad also said EPF's total assets thus far amounted to RM1 trillion, involving domestic and foreign property investments.

Domestically, the total investment is RM11 billion, including EPF buildings at its headquarters and in the states.

While EPF properties abroad amount to RM30 billion, half of which are in the United Kingdom, one of the largest being the Battersea project, with total property assets amounting to RM41 billion.

“Thus far, we have taken care of all these investments,” he said in response to another supplementary question from Jimmy Puah Wee Tse (Pakatan Harapan-Tebrau), who asked what percentage of EPF’s investments were in Malaysia.

- Bernama