EPF records RM46 million profit from selling six retail properties

KUALA LUMPUR: The Employees Provident Fund (EPF) made a profit of RM46 million from the sale of its six retail properties in Klang Valley and Johor.

Deputy Finance Minister Datuk Seri Ahmad Maslan said that EPF was also planning to sell another retail outlet in Kelana Jaya to a government-linked company (GLC).

"The six retail properties sold are the Giant Bandar Kinrara building, Giant Putra Heights building, Giant USJ building, Giant Klang building, Giant Ulu Klang building and Giant Plentong building in Johor, with a profit of RM46 million.

"We are selling these assets to Sunway Real Estate Investment Trust Berhad (Sunway REIT), which is 15.24 per cent owned by EPF," he said, during the question and answer session in the Dewan Rakyat, here today.

He was responding to a question from Datuk Seri Ikmal Hisham Abdul Aziz (PN-Kuala Terengganu), who wanted to know the proceeds from the portfolio sales of six EPF retail units in Klang Valley and Johor, and whether EPF intends to dispose of another retail unit in Klang Valley as reported, apart from planning the next investment.

In his reply to a supplementary question from Ikmal Hisham, on whether EPF plans to invest in the field of financial technology or FinTech, which has attained the status of a Unicorn, Ahmad said that the investment committee will conduct a study on this proposal.

Meanwhile, Ahmad also said that EPF's total assets thus far amount to RM1 trillion, involving domestic and foreign property investments.

In the country, the total investment is RM11 billion, including EPF buildings at its headquarters and in the states; while EPF properties abroad amount to RM30 billion, half of which are in the United Kingdom (UK), with one of the largest, Battersea, an iconic project, making the total property assets amount to RM41 billion.

"Thus far, we have taken care of all these investments," he said in response to another supplementary question from Jimmy Puah Wee Tse (PH-Tebrau) who wanted to know what percentage of EPF's investments were in the Malaysian domestic market.

-- BERNAMA