Last updated : 11/22/18 1:54 AM     

Positive Outlook For Malaysia After Smooth Government

KUALA LUMPUR, 13 May 2018: The Employees Provident Fund (EPF) remains optimistic of the long-term outlook of the Malaysian economy following the formation of the new Government post-GE14. The EPF anticipates that any potential short-term market dips would provide opportunities for further investments into the domestic markets.

 

EPF Chief Executive Officer Datuk Shahril Ridza Ridzuan said, “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.”

 

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, would bode well for the local business environment.

 

Datuk Shahril reaffirmed that the EPF would continue to invest in accordance with its existing principles and stated risk parameters. The EPF is focused on providing a return to its members of two (2) 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.”

 

About the Employees Provident Fund (EPF)

The Employees Provident Fund (EPF) is Malaysia’s premier retirement savings fund to help its members achieve adequate savings for a comfortable retirement. This is in line with EPF’s vision to help members achieve a better future and the mission to safeguard members’ savings and deliver excellent services. The EPF has evolved significantly from 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.