Malaysia's EPF weighing sale of up to $110 million of real estate assets
EPF, which manages close to 1 trillion ringgit in assets, said that any acquisition or disposal or assets is part of the ordinary course of managing its investments as a long-term strategic investor for its 14.8 million members. REUTERSpic
KUALA LUMPUR:Malaysian pension fund Employees Provident Fund (EPF) is considering the sale of at least seven real estate assets around the country with a total estimated value of 350-450 million ringgit ($86.04-$110.62 million), The Edge Weekly reported, citing sources.
The assets include office buildings it currently occupies, a retail property and a seaside hotel.
EPF, which manages close to 1 trillion ringgit in assets, told the newspaper that any acquisition or disposal or assets is part of the ordinary course of managing its investments as a long-term strategic investor for its 14.8 million members.
"The decision to buy or sell real estate will also take into consideration the fund's overall portfolio strategy and the long-term health of the fund," it said.
Must-Watch Video
Stay updated with our news