Kuala Lumpur: Malaysia Airports Holdings Bhd (MAHB) shares were sold at prices ranging from RM6.80 to RM7.70 per unit, generating RM102 million for the Employees Provident Fund (EPF) in 2023, according to Finance Minister II Amir Hamzah Azizan.

According to BERNAMA News Agency, Amir Hamzah stated that MAHB shares outperformed the Kuala Lumpur Composite Index by 11.47 per cent in 2023, significantly influencing the EPF’s decision to sell. He refuted claims of losses from the transaction, citing an EPF press statement from February 12, 2025, which confirmed profits from the sale and purchase of MAHB shares. These profits contributed to the EPF’s total investment income of RM63.48 billion for the financial year ending December 31, 2023, he explained during the Ministerial Question Time in the Dewan Rakyat.

Responding to a query from Chong Zhemin (PH-Kampar) regarding the financial outcome of the EPF’s dealings with MAHB shares, Amir Hamzah highlighted that the EPF declared a dividend of 5.50 per cent for conventional savings and 5.40 per cent for shariah savings in 2023. Since 2014, active trading and dividends from MAHB shares have generated a total income of RM650 million.

He clarified that MAHB’s share trading and its recent privatisation were separate investments with different objectives and management responsibilities. Until the announcement of the Voluntary General Offer (VGO) on May 15, 2024, on Bursa Malaysia, fund managers continued trading MAHB shares to generate returns for EPF members. Amir Hamzah emphasized the EPF’s adherence to a strict governance protocol, known as the ‘Chinese wall’, to prevent conflicts of interest and insider trading.

He detailed that the Strategic Investment Department, responsible for MAHB’s VGO, was prohibited from sharing sensitive information with the Equity Department, ensuring compliance with the Capital Markets and Services Act 2007 (CMSA). Insider trading, he noted, is a criminal offence with severe penalties, including up to 10 years in prison and a fine of at least RM1.0 million.

Amir Hamzah underscored the importance of maintaining integrity in the stock market, given the EPF’s substantial influence, accounting for 38 per cent of the domestic listed equity market. The EPF’s rigorous internal controls, upheld over nearly 75 years, have cemented its reputation as a reliable investment institution. He stressed that any improper actions could harm not only the EPF’s standing but also the overall performance of Malaysia’s financial market.