Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that the Employees Provident Fund (EPF) would need to sell more overseas assets and halt domestic investments if another RM10,000 withdrawal is permitted. This move could lead to a total withdrawal of RM63 billion for 6.3 million eligible members. Zafrul warned that such actions would negatively impact domestic equity and bond markets, increasing borrowing costs for the government and potentially reducing dividends for EPF members, thereby affecting its role as a major liquidity provider.MOF: EPF WILL HAVE TO OFFLOAD MORE ASSETS TO ALLOW FOR ANOTHER WITHDRAWAL
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that the Employees Provident Fund (EPF) would need to sell more overseas assets and halt domestic investments if another RM10,000 withdrawal is permitted. This move could lead to a total withdrawal of RM63 billion for 6.3 million eligible members. Zafrul warned that such actions would negatively impact domestic equity and bond markets, increasing borrowing costs for the government and potentially reducing dividends for EPF members, thereby affecting its role as a major liquidity provider.
