Zafrul: Amir Hamzah right candidate as EPF CEO


Datuk Seri Amir Hamzah Azizan’s strong credentials made him the best choice to lead the Employees Provident Fund (EPF) as its chief EPF officer (CEO), says Tengku Zafrul Tengku Zafrul Tengku Abdul Aziz.

KUALA LUMPUR: Datuk Seri Amir Hamzah Azizan’s strong credentials made him the best choice to lead the Employees Provident Fund (EPF) as its chief EPF officer (CEO), says Tengku Zafrul Tengku Zafrul Tengku Abdul Aziz.

The Finance Minister said on Wednesday Amir is the right candidate as CEO of EPF after Tunku Alizakri Alias (pic, below), who has been the CEO of the retirement fund since Aug 20,2018, indicated his desire to retire.

“There was an extensive search for a new CEO given the many challenges EPF is facing.

“In appointing Amir, we wanted a person with a strong CV and he was the best choice among the other candidates, ” he told StarBiz.

Previously helming Tenaga Nasional Bhd (TNB) as its president/CEO, Amir Hamzah’s appointment as EPF CEO will be effective March 1,2021.

He was appointed TNB CEO in April 2019 after serving in various industries like oil, shipping, retail and services.

Amir Hamzah brings with him more than 25 years of corporate experience, beginning his career with the Shell Group of Companies before serving as CEO for MISC Bhd, Petronas Dagangan Bhd, Petronas Lubricants International, Icon Offshore Bhd, and Themed Attractions Resorts and Hotels Sdn Bhd.

He holds a BSc in Management (majoring in Finance and Economics) from Syracuse University, New York.

As for Tunku Alizakri, EPF chairman Tan Sri Ahmad Badri Mohd Zahir said he will be continuing his contributions towards public service in a different capacity.

“It is with a heavy heart, we bid goodbye and thank you to Tunku Alizakri for his unwavering dedication and service to the EPF spanning seven years, first as deputy CEO (strategy) and then as CEO.

“Tunku Alizakri’s vision, drive, and commitment to all EPF stakeholders, especially our members, is evident in the EPF’s ongoing drive towards digital acceleration and operational efficiency, the adoption of ESG and sustainability as key metrics, as well as powering the social protection and wellbeing agenda.”

“On behalf of the EPF, I extend my heartfelt appreciation to Tunku Alizakri for his exemplary service to the EPF and wish him all the best in his future endeavours, ” he said.

Ahmad Badri meanwhile welcomed and congratulated Amir Hamzah on his appointment as the new EPF CEO.

“With his broad corporate experience, we are looking forward to his dynamic and focused leadership to lead the fund through this complex and challenging period of the EPF’s history, ” he said.

Meanwhile, analysts said Amir Hamzah is a person who will stand up against outside pressure and do the right thing for the EPF.

The EPF is one of the oldest retirement funds in the world. Established in 1951, it focuses on safeguarding member savings and delivering excellent services.

In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem.

As at end 2019, the EPF has 14.58 million members of which 7.62 million members are active contributors. A total of 522,297 employers contributed to the EPF.

The annual contribution received from employees and employers as at end-2019 totalled RM75.93bil. It declared RM45.82bil in total dividend payout in 2019.

In the third quarter ended Sept 30,2020, it recorded a gross investment income of RM17.33bil amid continued volatility in the capital markets in an operating environment overshadowed by the Covid-19 pandemic.

Equities contributed RM7.29bil or 42% to total gross investment income, while fixed income instruments, registered RM8.18bil.

Real estate and infrastructure, as well as money market instruments, contributed RM1.63bil and RM0.23bil, respectively.

Net investment income (after impairment and cost write down for listed equities) came in at RM16.87bil.

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