EPF to continue investing in mid-cap stocks

by **Cals** Thu 13 Jun 2013, 14:43

EPF to continue investing in mid-cap stocks
Business & Markets 2013
Written by Bernama
Thursday, 13 June 2013 13:43

KUALA LUMPUR (June 13): The Employees Provident Fund (EPF) will continue to invest in mid-cap companies that meet its investment criteria.

EPF Chief Executive Officer Datuk Shahril Ridza Ridzuan said about 20 to 30 per cent of EPF's current stock investment is in middle-cap companies.

"We have already invested in a lot of middle-sized companies. We will definitely support companies which fulfil our investment criteria.

"The criteria are profitability, liquidity of the stock itself and ability to generate cash flow and dividends.

"We need to be very careful with our investment, as we need to return the dividends to our members," he told reporters on the sidelines of the Invest Malaysia 2013 conference here today.

Shahril Ridza was commenting on Prime Minister Datuk Seri Najib Tun Razak's call in his keynote address for government-linked investment companies, especially EPF, to step up and play a more prominent role, increasing market vibrancy, particularly in good quality mid-cap stocks.

Meanwhile, Shahril Ridza confirmed that EPF is in talks with Uda Holdings Bhd to jointly redevelop the 34-year-old Bukit Bintang Plaza (BB Plaza), which will be demolished for the redevelopment project with a Mass Rapid Transit (MRT)
station also being built underneath the plot.

"Yes. Uda Holdings is holdings talks with several parties and we are one of them. There have been some discussions.

"If the project fits into our property development criteria, then we look forward to undertaking the project," he added.

Uda Holdings was reportedly in negotiations with several parties, including the EPF, Kumpulan Wang Persaraan (KWAP), Permodalan Nasional Bhd (PNB) and MALAYSIAN RESOURCES CORP []oration Bhd (MRCB), on the possibility of jointly redeveloping BB Plaza.

The cost of the BB Plaza redevelopment project is estimated at between RM700 million and RM800 million. -- BERNAMA