What are the implications of the new equity rule for statutory retirement funds like the EPF?

Question

## The new 50% Bumiputera equity rule would extend the same property-acquisition requirement to statutory retirement funds such as EPF, but its specific operational implications were not spelt out.

Accepted Answer

Lim Guan Eng said the updated Ministry of Economy Properties Acquisition Guidelines (PAG), effective November 18 of the previous year, apply not only to GLCs but also to GLICs such as the Employees Provident Fund (EPF). He described EPF as “the premier statutory retirement fund of all Malaysians, from both bumi and non-bumi”, and his concern centred on the rule raising the Bumiputera equity threshold from 30% to 50% for buyers of GLC and GLIC properties worth RM20 million and above.

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What are the implications of the new equity rule for statutory retirement funds like the EPF?

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