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New Straits Times
5 days ago
- Business
- New Straits Times
EPF sees growing member base but warns of global headwinds
KUALA LUMPUR: Global economic outlook remains uncertain due to ongoing geopolitical tensions and the heightened risk of both tariff and non-tariff barriers between major economies, particularly the United States and China, the Employees' Provident Fund (EPF) said. While some central banks have started to loosen monetary policy, the fund highlighted that concerns over political instability, fiscal imbalances, and regional conflicts continue to weigh on market sentiment and erode investor confidence. The International Monetary Fund has revised its global growth projection for 2025 downward to 2.8 per cent, a 0.5 percentage point drop from its January estimate. In line with this, Malaysia's gross domestic product (GDP) growth forecast for 2025 is also expected to fall slightly below the earlier estimate of 4.5 per cent to 5.5 per cent, reflecting a wider trend of downward revisions across the region. EPF chief executive officer Ahmad Zulqarnain Onn said the downward adjustments to global and regional growth projections, including Malaysia's, highlight increasing external risks amid evolving global trade dynamics. He said in the face of a more uncertain and challenging market landscape, the EPF continues to uphold a dynamic and broadly diversified portfolio to protect asset value and mitigate potential risks. "We continue to actively explore investment opportunities across both domestic and international markets to strengthen our portfolio and support long-term, sustainable returns for our members," he added. Meanwhile, EPF said it added 140,111 new members in the first quarter of 2025 (1Q25), bringing its total membership to 16.3 million. "Of these, 8.88 million are active members, representing 51.3 per cent of the 17.31 million labour force. "The EPF's active-to-inactive member ratio remained stable at 54:46 in 1Q25," it said. The fund said 19,600 new employers registered in 1Q25, bringing the total number of active employers with the EPF to 616,558. Total contributions rose by 15.1 per cent, reaching RM33.54 billion compared to RM29.13 billion in the same period last year. "Meanwhile, total voluntary contributions increased by 62 per cent to RM7.02 billion, from RM4.33 billion a year earlier. "The number of formal sector members contributing above the statutory rate was 10,990 in 1Q25, compared to 6,771 in the same period last year," EPF said.
The Sun
26-05-2025
- Business
- The Sun
Felda, Pahang g'ovt work together to strengthen FGV strategic position
BENTONG: The presence of the Pahang government as one of the persons acting in concert (PAC) in the unconditional voluntary takeover of FGV Holdings Bhd (FGV) remaining shares by the Federal Land Development Authority (Felda) is capable of strengthening FGC's strategic position. Felda chairman Datuk Seri Ahmad Shabery Cheek said the move not only sped up Felda's efforts to achieve 90 per cent share ownership as stipulated by but also showed the Bursa Malaysia, but showed the Pahang's willingness to work together with the federal agency to develop the national plantation sector. The close cooperation with the state government provides room for more synergy in empowering the economic status of settlers. 'Now Felda has 82 per cent and the other biggest shareholders are the state government of Pahang, with five per cent. Without that five per cent, we can't meet the 90 per cent threshold set by Bursa Malaysia (to take over FGV). 'With this, the process of obtaining 90 per cent is closer, and at the same time, this agreement will make ties between the Pahang government and Felda a close and important one where many decisions will be considered together,' he said at a media conference after a Felda gathering with Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail here today, which was also attended by Felda managing director Datuk Dr Suzana Idayu Wati Osman. Meanwhile, Wan Rosdy said Pahang's participation in the takeover demonstrated its commitment to be part of the national agenda to support state economic growth, FGV's continuity and the welfare of Felda settlers. 'I would like to assure that the state government will continue to support all of Felda's main agendas, including redevelopment of old settlements, upgrading public infrastructure, assessing property values and uplifting the quality of life for settlers, especially the new generation,' he said. FGV accepted the voluntary unconditional takeover offer from Felda, which is aimed at regaining the remaining unowned shares. A notice issued by Maybank Investment Bank Bhd on behalf of Felda stated that the offer suggested a cash payment of RM1.30 per share for all FGV ordinary shares not held by Felda. As of May 20, the total of FGV issued shares is valued at RM7.02 billion, including 3.64 billion ordinary shares and one special share held by Minister of Finance (Incorporated). Besides the Pahang government, other PACs include Felda wholly-owned subsidiary, Felda Asset Holdings Company Sdn Bhd.
The Sun
26-05-2025
- Business
- The Sun
Felda, Pahang govt to boost FGV's strategic market position
BENTONG: The presence of the Pahang government as one of the persons acting in concert (PAC) in the unconditional voluntary takeover of FGV Holdings Bhd (FGV) remaining shares by the Federal Land Development Authority (Felda) is capable of strengthening FGC's strategic position. Felda chairman Datuk Seri Ahmad Shabery Cheek said the move not only sped up Felda's efforts to achieve 90 per cent share ownership as stipulated by but also showed the Bursa Malaysia, but showed the Pahang's willingness to work together with the federal agency to develop the national plantation sector. The close cooperation with the state government provides room for more synergy in empowering the economic status of settlers. 'Now Felda has 82 per cent and the other biggest shareholders are the state government of Pahang, with five per cent. Without that five per cent, we can't meet the 90 per cent threshold set by Bursa Malaysia (to take over FGV). 'With this, the process of obtaining 90 per cent is closer, and at the same time, this agreement will make ties between the Pahang government and Felda a close and important one where many decisions will be considered together,' he said at a media conference after a Felda gathering with Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail here today, which was also attended by Felda managing director Datuk Dr Suzana Idayu Wati Osman. Meanwhile, Wan Rosdy said Pahang's participation in the takeover demonstrated its commitment to be part of the national agenda to support state economic growth, FGV's continuity and the welfare of Felda settlers. 'I would like to assure that the state government will continue to support all of Felda's main agendas, including redevelopment of old settlements, upgrading public infrastructure, assessing property values and uplifting the quality of life for settlers, especially the new generation,' he said. FGV accepted the voluntary unconditional takeover offer from Felda, which is aimed at regaining the remaining unowned shares. A notice issued by Maybank Investment Bank Bhd on behalf of Felda stated that the offer suggested a cash payment of RM1.30 per share for all FGV ordinary shares not held by Felda. As of May 20, the total of FGV issued shares is valued at RM7.02 billion, including 3.64 billion ordinary shares and one special share held by Minister of Finance (Incorporated). Besides the Pahang government, other PACs include Felda wholly-owned subsidiary, Felda Asset Holdings Company Sdn Bhd.
The Star
26-05-2025
- Business
- The Star
FGV receives unconditional takeover offer from Felda at RM1.30 per share
KUALA LUMPUR: FGV Holdings Bhd (FGV) has received an unconditional voluntary takeover offer from the Federal Land Development Authority (Felda), which seeks to acquire all remaining shares in the company not already under its control. In a notice issued by Maybank Investment Bank Bhd on behalf of Felda, the offer proposes a cash consideration of RM1.30 per share for all outstanding ordinary shares of FGV not currently held by Felda. As of May 20, 2025, FGV's total issued share capital stood at RM7.02 billion, comprising 3.64 billion ordinary shares and one special share held by the Minister of Finance (Incorporated). Felda currently owns 69.50 per cent of FGV's equity, amounting to 2.53 billion shares. With this new offer, Felda and its parties acting in concert (PACS) collectively hold a controlling stake of 86.93 per cent in the plantation and agribusiness giant. The PACS include Felda's wholly owned subsidiary, Felda Asset Holdings Company Sdn Bhd, together with the Pahang state government. Other PACs include Koperasi Kakitangan Felda Malaysia Bhd, whose board consists of Felda management, as well as Sulong Jamil Mohamed Shariff and his wife, Salina Samsudin. The offer would be formally presented to shareholders via an offer document, which outlines the terms, conditions, and acceptance procedures. "This document, along with the relevant forms, will be dispatched once the Securities Commission confirms that it has no further comments on its contents,' it said. The move signals Felda's continued efforts to consolidate control over FGV, following previous strategic manoeuvres to increase its stake in the company. The offer by Felda to acquire remaining shares in FGV would remain open for acceptance for a minimum of 21 days from the posting date, with a closing time of 5 pm. The offer period may be extended at Felda's discretion, with any changes to the closing date to be announced by Maybank Investment Bank at least two days in advance. The offer may only be withdrawn with written consent from the Securities Commission, in which case all obligations under the offer would be voided. - Bernama
