Joint Statement on Battersea Asset
The Battersea project, owned by a consortium led by Sime Darby Property Berhad and SP Setia Berhad, remains a key strategic investment for its shareholders.
The Battersea Power Station building, within the Battersea Power Station commercial precinct, is jointly owned by Permodalan Nasional Berhad (PNB) and the Employees Provident Fund (EPF), which was acquired as part of its investment portfolio in global real estate.
Both organisations remain fully committed to realising the full potential of the investment and confident in its prospects and potential upside value. As such, there are no immediate plans to proceed with any exit.
Given the iconic nature of the Battersea asset, we receive from time-to-time proposals from parties interested in investing in the project. As investors, PNB and EPF would evaluate any such proposals carefully in line with our investment criteria and considerations, which is always based on creating value for the benefit of our PNB unitholders and EPF members. As such, typically when investments reach maturity and achieve targeted returns, we would consider the opportunities for monetisation or the introduction of strategic partners to support future capital requirements and growth.
About the Employees Provident Fund (EPF)
The Employees Provident Fund® (EPF®) is Malaysia’s premier retirement savings fund, helping its members achieve adequate savings for a comfortable retirement. This is in line with EPF’s purpose to build a better retirement future for Malaysia and its mission to helping members achieve a comfortable retirement income. The EPF has evolved significantly from a transaction-centric to a professional fund management organisation with a strong focus on retirement security. The EPF is guided by a robust and professional governance framework when making investment decisions. It continues to play a catalytic role in the nation’s economic growth and seeks to cultivate a savings and investment culture among its members to improve the country’s financial literacy level.