EPF substantial shareholder in Signature International

PETALING JAYA: Signature International Bhd’s move to expand overseas received a dose of confidence from the Employees Provident Fund (EPF).

The retirement fund has emerged as a substantial shareholder with a 5.07% stake, in the manufacturer of premium kitchen systems on Oct 11

Signature has put in proposals to design, build, supply and install kitchen system for some of the large property development projects undertaken by Malaysian based developers abroad.

Among the projects is Battersea Power Station, which is developed by a consortium of Malaysian companies.

The EPF holds a 20% stake in the development of Battersea that is led by SP Setia Bhd.

The process to select the suppliers for various components of the multi-billion development has started.

When contacted, Signature’s group executive director Datuk Michael Chooi confirmed that the company has put in a bid to supply kitchen systems for the phase 2 development of Battersea.