What does the new rule mean for EPF?

Question

## The new rule applies to EPF because EPF is a GLIC, and buyers of its properties worth RM20 million and above must now have at least 50 per cent Bumiputera equity.

Accepted Answer

The updated Ministry of Economy Properties Acquisition Guidelines, which took effect on November 18 last year, cover both GLC and GLIC property disposals. Lim Guan Eng said this matters because the Employees Provident Fund is one of the GLICs affected by the rule, and he described EPF as the premier statutory retirement fund for Malaysians of all communities.

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What does the new rule mean for EPF?

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