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 Business

EPF sees positive outlook after govt transition

14th May, 2018

KUALA LUMPUR: The Employees Provident Fund (EPF) remains optimistic of the long-term outlook of the Malaysian economy following the formation of the new government.

In a statement, the pension fund said it anticipated that any potential short-term market dips would provide opportunities for further investments into the domestic markets.

“We have been investing here for a very long time and believe the strong fundamentals of the Malaysian economy remain intact.

“Short-term volatility is natural, given this is the nation’s first experience of a power transition, but the smooth process seen so far will assure investors that Malaysia is a mature democracy and economy,” said EPF Chief Executive Officer Datuk Shahril Ridza Ridzuan (pictured).

The new government’s call for greater enhancements to local institutions’ corporate governance practices and independence, together with greater scrutiny by strong regulators such as Bank Negara Malaysia and the Securities Commission Malaysia, bode well for the local business environment, he said.

Shahril reaffirmed that the EPF would continue to invest in accordance with its existing principles and stated risk parameters.

The fund is focused on providing a return of two per cent above the rate of inflation and its investment strategies will continue to focus on assets and companies that will meet this objective.

“We are further heartened that the manifesto of the new government supports the EPF’s vision of providing a better future for our 13.7 million members.

“In particular, we welcome the focus on continuously improving the minimum wage framework and encouraging more voluntary savings, especially for housewives,” he added. –Bernama

   
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