Qualampur: Shares of Malaysia Airport Holdings BHD (MAHB) were sold between RM6.80 and RM7.70 each, producing RM102 million for employees, which was for the employees for the Principal Fund (EPF) 2023 dividends, finance, Minister II Amir Hamjah Azizan said.
He said that the MAHB shares lagged the Barsa Malaysia’s benchmark composite index behind 11.47% in 2023, an important factor of the share sales strategy.
“The claim that EPF was damaged by this sale, it is baseless, as the EPF clearly refused in its press statement on February 12, 2025. Based on this statement, EPF recorded the benefit from the sale and purchase of MAHB shares, contributing to which contributed. The total investment income of RM63.48 billion for the financial year ended on December 31, 2023, ”he said today during the time of ministerial question in Diwan Rakit.
Amir Hamjah was responding to Hamjah Chong Zemin (PH-Usper), who asked the EPF MAHB share transactions about the total profit or loss and how it was reflected in EPF’s financial statements.
Amir Hamjah said that EPF announced a dividend of 5.5% for traditional savings and 5.4% for Syariah savings in 2023.
“Since 2014, the total income from active trading and dividends from MAHB shares have reached RM650 million,” he said.
He said that MAHB share trading and recent privatization of the company were different investment, different in objectives and management.
By the time the Voluntary General Offer (VGO) was announced on May 15, 2024 on Barsa Malaysia, the fund managers continued the trade of MAHB shares under their mandate to generate returns for EPF members, Amir Hamjah Said.
He said that EPF implements strict regime through an information barrier protocol, known as “Chinese walls”, a standard exercise between government -related investment companies and financial institutions.
“Under this protocol, the Strategic Investment Department, which has handled the VGG of MAHB, is strictly banned by sharing sensitive, non-public information with the Equity Department. This ensures that the information is kept separate, which prevents the conflict of interest that can lead to insider trading, which is a criminal offense under the Capital Markets and Services Act 2007 (CMSA).
He insisted that the whistleblower protocol was an important security guard against Insider Trading, as mentioned in Section 190 of CMSA.
Insider trading is a criminal offense with compulsory jail period up to 10 years and a fine of at least RM1.0 million.
“If EPF used information for share trading, it would compromise the integrity and impartiality of Malaysia’s stock market, given the EPF accounts for 38% of the domestic listed equity market,” said Amir Hamjah.
He said that strict internal control of EPF, with full integrity, has strengthened its standing as a respected investment institute in its nearly 75 years of history.
“As Malaysia’s largest investment institute, EPF takes its role in financial market stability seriously. Any unfair action can not only harm EPF’s reputation and standing, but can also affect the performance of the country’s financial market.
He also said that EPF’s move to buy MAHB shares per unit RM11 was in the company’s position for the future on high evaluation.
He said that EPF’s participation focuses on strategic value construction, a new business strategy and recovery of MAHB and execution of improvement schemes.
“This can only be obtained through the operational change of MAHB,” he said in response to a supplementary question by Chong, why EPF needs to sell MAHB shares before announcing its dividend and how funds The plan is successful for privatization of MAHB and EPF members have benefits.
Amir Hamjah insisted that the Consortium offered voluntary acquisition-EPF involved-REM 11 represents a long-term investment for funds to acquire the remaining MAHB shares on 11. – Bernma
