KUALA LUMPUR (Feb 22): The Employees Provident Fund (EPF) has clarified that the price at which it sold shares in Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) in 2023 was at a range of RM6.80 to RM7.70 a share.

“The previously cited price range of RM5.40 to RM7.36 per share was contained in the question posed in Parliament by a Member of Parliament. A full review of all 2023 transactions confirms the verified price range was RM6.80 to RM7.70 per share,” the EPF said in a statement late on Saturday.

It said the total realised profit from these transactions was RM102 million, which includes capital gains and dividends generated by both internal and external fund managers.

“The earlier figure of RM100.7 million referenced in discussions excluded some dividends received by external managers and has since been reconciled,” it explained.

Its statement sought to address recent “concerns and misconceptions” about its 2023 financial performance and investment in MAHB.

The EPF had been under fire from several lawmakers, including MCA president Datuk Seri Dr Wee Ka Siong, who accused the provident fund of suffering losses to the tune of RM500 million when it pared down its holdings in the company in 2023.

In Parliament recently, Datuk Azman Nasrudin (Perikatan Nasional-Padang Serai) had queried the reason for the EPF selling its shareholding in MAHB at a price of RM5.40-RM7.36 per unit in 2023, and then buying it back at RM11 per unit under the recent privatisation exercise.

In its statement on Saturday, the EPF said its investment in MAHB had, in fact, contributed to its performance and, as a result, enabled it to declare a higher dividend payout for 2023. That year, its dividend on conventional savings was 5.5% compared with 5.35% in 2022, with a total payout of RM50.33 billion. Its dividend on shariah savings was 5.4% compared with 4.75% in 2022, with a total payout of RM7.48 billion.

The EPF stressed that it has been “clear, accurate and transparent” in its reporting of its numbers. It said, for the financial year ended Dec 31, 2023, the EPF recorded a total gross investment income of RM66.99 billion, with a net investment income amounting to RM63.48 billion, consistent with the figure presented in Parliament by Minister of Finance II Datuk Seri Amir Hamzah Azizan.

“These figures are in line with EPF’s established reporting framework, which adheres to Malaysian Financial Reporting Standards. There has been no mistake, misrepresentation, or attempt to withhold information as claimed,” it said.

It went on to say that it remains committed to transparency and welcomes constructive dialogue with lawmakers, stakeholders, and the public.

Amir Hamzah had, on Feb 20, told the Dewan Rakyat during question time that the EPF made a profit of RM102 million from the share sale of MAHB in 2023 alone. He said the shares were sold at between RM6.80 and RM7.70 apiece when the counter outperformed the benchmark index by 12%.

All in, the EPF gained RM650 million in income from trading and dividends from the stock since 2014, he noted. “The allegation that the EPF suffered losses from this sale is unfounded,” Amir Hamzah said.

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