Finance Ministry: KWAP, EPF invested nearly RM3b in 1MDB, subsidiaries


(MMO) – Malaysia’s two largest pension funds have invested nearly RM3 billion in 1Malaysia Development Berhad (1MDB) and its subsidiaries as of March 31 this year, the Finance Ministry said.

In a written parliamentary reply to Pandan MP Rafizi Ramli yesterday, the ministry stated that the Employees Provident Fund (EPF) had put in RM1.52 billion while the Retirement Fund Inc (KWAP) spent some RM1.4 billion.

The ministry listed down Bandar Malaysia Sdn Bhd, 1MDB Energy Limited, 1MDB Global Investment Limited, and Jimah Energy Ventures Sdn Bhd (JEV) as the subsidiaries invested in by KWAP.

“For KWAP, its investments and holdings in 1MDB and its subsidiaries as of March 31, 2015 amount to RM1.4 billion,” the ministerial reply stated.

The written reply also stated that the EPF had invested RM1.52 billion in 1MDB subsidiaries Panglima Power Sdn Bhd (PPSB) and JEV

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