EPF to carefully consider any investment in technology stocks

EPF chairman Tan Sri Samsudin Osman

KUALA LUMPUR: The Employees Provident Fund (EPF) will carefully consider any investment in technology stocks moving forward.  

Chairman Tan Sri Shamsudin Osman said there was a need to understand the type of companies and risk return profile, to ensure any investment provides good returns to depositors.  

“We’re very conservative in terms of our investments today. Of course, we may have a look at some of these (technology companies) in future. But, at the back of my mind, the concern is that our contributors get a good deal from the investment.

“We’re always very careful. The EPF is the largest fund for all employees and we’re very concerned over their money,” he told reporters after the launch of the International Social Security Conference 2017 on Wednesday.

Meanwhile, the deputy chief executive officer of strategy division, Tunku Alizakri Alias, said the EPF would consider investing in technology companies if they showed positive indications of having the right return profile.

“We’re also looking at those companies that will be around for the next 20 or 30 years to ensure the savings of contributors is going to be protected. The EPF, will therefore, be very careful in investing in any stocks or companies and take into consideration the risk profile,” he added.

Meanwhile, on the Employment Insurance System Bill (EIS), tabled in Parliament on Tuesday,Shamsudin said the move was timely as it is a useful instrument to better protect employees welfare.

The proposed new bill will see the creation of an insurance scheme for laid-off workers, while increasing their re-employability following a job loss.

The Government hopes to debate and pass the proposed law in the current session of the Dewan Rakyat which sits until Aug 10. - Bernama