THE Employees Provident Fund (EPF) made a profit of RM46 million by selling six retail assets in the Klang Valley and Johor, Deputy Finance Minister Ahmad Maslan told the Dewan Rakyat today.

The Pontian MP said the assets leased to grocery retailer Giant were acquired by Sunway Real Estate Investment Trust (Sunway Reit).

“The retail assets sold to Sunway Reit were Giant Hypermarket Bandar Kinrara, Giant Hypermarket Putra Heights, Giant Hypermarket Subang Jaya (USJ), Giant Hypermarket Klang, Giant Hypermarket Ulu Klang and Giant Hypermarket in Plentong, Johor,” he told parliament today.

EPF owns 15.24% of Sunway Reit, he said.

He was responding to a question from Ahmad Amzad Mohamed (Kuala Terengganu-PN) about the revenue obtained from selling the six retail assets.

It was reported Sunway Reit acquired the six properties from EPF for RM520 million.

Ahmad said EPF plans to sell another retail asset in Kelana Jaya, Selangor, to a government-linked company, but did not elaborate.

Responding to an additional question from Jimmy Puah Wee Tse (Tebrau-PH) about EPF’s asset management and its investment process, Ahmad said EPF’s total assets are valued over RM1 trillion, making it Malaysia’s richest agency.

He said EPF is constantly looking to expand its investment portfolio.

EPF’s local investments comprise fixed-income instruments (45.5%), Bursa-listed equity (42.5%), real assets (6%), private equity (3%), and money market instruments (3%), he said.

“As for foreign investments, 34% is abroad and the rest is in the country.

“(EPF’s investment) in the country is worth RM11 billion, among which are EPF buildings including its headquarters and offices in various states.

“There are also EPF properties abroad worth RM30 billion, half of which are in the United Kingdom, with the biggest being Battersea (Power Station). The project has been completed.

“So far, we have taken care of all of these investments,” he said. – May 24, 2023.