UPDATE 1-Malaysian pension fund launches $600 mln fund managed by BlackRock, HarbourVest, Partners Group reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Mingtiandi
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One of Asia’s biggest investors leads Mingtiandi’s collection of people moves during the first days of the Ox Year, as Malaysia’s Employees Provident Fund names a new chief executive. Also picking out new leadership is Hong Kong’s RedBox Storage, and a top executive with a Hong Kong-listed mainland developer is exiting just three months after the IPO.
Malaysia’s
Employees Provident Fund will be under new leadership starting next month as
Datuk Seri Amir Hamzah Azizanhas been named chief executive for the $230 billion vehicle effective 1 March. Chief EPF Officer (CEO) effective 1 March 2021. Amir Hamzah, who served most recently as head of Malaysian electrical utility Tenaga Nasional Berhad (TNB), will take over the helm of the EPF from Tunku Alizakri Alias, who has been leading the fund since August 2018.
Malaysia Employees Provident Fund (KWSP) approved 19.6 billion ringgit (US$ 4.88 billion) amount to be used for hardship withdrawals under a program announced in mid-November 2020. This program permits participants deeply impacted by the coronavirus (COVID-19) pandemic to tap their retirement accounts. kWSP had approved 2.5 million out of a total of 3.88 million applications […]
Malaysia’s EPF approves almost $5 billion in hardship withdrawals
Bloomberg
The Petronas Towers in Kuala Lumpur. Malaysia s public retirement program is allowing hardship withdrawals in reponse to the pandemic.
Malaysia s Employees Provident Fund approved 19.6 billion ringgit ($4.8 billion) in hardship withdrawals under a program announced in mid-November allowing participants hit hard by the coronavirus pandemic to tap their retirement accounts.
That total amounted to just over 2% of the Kuala Lumpur-based fund s total assets of 941.8 billion ringgit as of Sept. 30.
An EPF news release Wednesday said the fund had approved 2.5 million out of a total of 3.88 million applications under its new i-SINAR program, which opened for submissions on Dec. 21. The program allows participants to tap their Account 1 retirement savings balances.