Malaysian retirement fund buys 3rd asset in Australia for RM526mil

KWAP was looking to increase its investment in properties overseas and was eyeing opportunities in Australia and the United States, chief executive officer Wan Kamaruzaman Wan Ahmad told StarBiz last week.

PETALING JAYA: Retirement Fund Inc (also known as Kumpulan Wang Persaraan Diperbadankan or KWAP), which manages RM98bil worth of assets, has acquired its third commercial property in Australia for A$172mil (RM526mil).

The country’s second-largest pension fund is taking advantage of the favourable currency exchange rate to increase its investment overseas for higher returns.