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Malaysia's EPF weighing sale of up to $110 million of real estate assets

02/06/2021 | 12:40am EST
FILE PHOTO: Employees' Provident Fund (EPF) logo is seen at its headquarters in Kuala Lumpur

KUALA LUMPUR (Reuters) - Malaysian pension fund Employees Provident Fund (EPF) is considering the sale of at least seven real estate assets around the country with a total estimated value of 350-450 million ringgit ($86.04-$110.62 million), The Edge Weekly reported, citing sources.

The assets include office buildings it currently occupies, a retail property and a seaside hotel.

EPF, which manages close to 1 trillion ringgit in assets, told the newspaper that any acquisition or disposal or assets is part of the ordinary course of managing its investments as a long-term strategic investor for its 14.8 million members.

"The decision to buy or sell real estate will also take into consideration the fund's overall portfolio strategy and the long-term health of the fund," it said.

($1 = 4.0680 ringgit)

(Reporting by Liz Lee; Editing by Kim Coghill)


ę Reuters 2021
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