KUALA LUMPUR: The Employees Provident Fund (EPF) is keen to buy some government-owned prime land in the Klang Valley if the price is fair, says deputy chief executive officer of investment Johari Abdul Muid.
“However, we are not proposing anything yet,” he told StarBiz.
It was reported that in November Deputy Prime Minister Datuk Seri Najib Tun Razak had announced that the Government wanted to develop its land in several strategic locations in the city, including about 204 acres near Jalan Cochrane, Kuala Lumpur.
The report also said property consultants had valued the land near Jalan Cochrane at RM100 to RM200 psf. They said the high commercial value was due to its prime location.
“At this moment, we are doing some ground work to prepare ourselves if we are offered the land,” Johari said.
The EPF’s strategy was always looking at long-term investments in order to give higher returns to its members, he said, adding: “We are dealing with pensioners’ money. Of course we have to be careful with the risks involved in any investment. If we need to wait, we will wait until the right time to invest.”
Of the current RM330bil of funds it was managing now, he said 2% would be allocated for property investment.
“That’s a lot of money for us to spend for investment,” Johari said, adding that in four to five years time, the fund could reach RM500bil.
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Circular No 106/2012: Accountant’s Report 2011
