EPF has no plan to sell stake in Plus Malaysia

According to the Employees Provident Fund, 744,139 of its contributors invested a total of RM29.48bil in approved Fund Management Institutions (FMI) and unit trust funds as at the end of 2013. The EFP says withdrawing funds to invest in approved FMIs is one way to grow retirement savings, but cautions members to first study the chosen fund and get professional advice.

KAJANG: The Employees Provident Fund (EPF), has no plan to dispose of its 49% stake in highway operator, PLUS Malaysia Bhd, as the investment in the company was reaping good returns for the pension fund.  

Chief executive officer Datuk Shahril Ridza Ridzuan said the fund and UEM Group Bhd, which held the remaining 51% stake in PLUS, had invested substantially in expanding its network, especially in the Klang Valley.  

UEM Group is a wholly-owned subsidiary of Khazanah Nasional Bhd.  

“An interested party may have gone to the press over the matter. But, we have not received any kind of offer by anyone over the stake. There are no suitors, “ Shahril Ridza said.  

He told reporters this after the signing of a partnership agreement with the International Training Centre of the International Labour Organisation (ITC-ILO) here today.   

He said PLUS Malaysia has contributed substantially to EPF’s earnings.  

Also present were EPF Chairman, Tan Sri Samsudin Osman and ITC-ILO Senior Programme Officer of Social Protection, Governance and Tripartism, Charles Crevier.   

Shahril was commenting on corporate player Tan Sri Abu Sahid Mohamad’s declared intention to take over PLUS Malaysia via his flagship Maju Holdings Sdn Bhd.   

According to media reports, Abu Sahid was quoted as saying he was very confident of pulling off the deal, which may cost RM30bil or more, as he had “everything ready”.    

The tycoon was also quoted to have received blessings at the highest level over his move and he had already made overtures to meet Khazanah Nasional Managing Director, Tan Sri Azman Mokhtar to discuss the possible acquisition.      

Meanwhile, EPF’s partnership agreement with ITC-ILO will pave the way for the joint development and implementation of future training activities in Malaysia and other Southeast Asian countries.   

“We will able to provide more avenues and opportunities in knowledge sharing and capacity building, not just in Malaysia, but also the region.  

“The common goal is to help each other to develop our social security and future network. The Malaysian government is very keen to explore and secure a better future for all Malaysians as part of the TN50 agenda,” said Shahril.     

The target audience to benefit from future programmes range from government ministries, non-governmental organisations, social welfare agencies, research institutions and the academia.     

The EPF first collaborated with the ITC-ILO in August 2016, when both jointly organised the Executive Course of Designing and Extending the Social Protection in Malaysia.  - Bernama