EPF buys stake in OSK’s Aussie project

Down Under deal: Ong (second from left) exchanging documents with Shahril. With them are OSK deputy group managing director Ong Ju Yan and EPF head of private markets department Rohaya Mohammad Yusof.

 PETALING JAYA: The Employees Provident Fund (EPF) is making a new investment in properties overseas after a year-long hiatus, this time by taking a significant stake in a Malaysian-owned development project in Australia.

The provident fund is paying A$154mil for a 49% stake in Yarra Park City Pty Ltd (YPC), which holds the rights to a five-acre mixed-use development worth over RM9bil in Melbourne.