EPF Buys MAHB Shares At RM11 To Ensure Higher Relisting Price – Amir Hamzah

KUALA LUMPUR, Feb 20 (Bernama) -- The Employees Provident Fund’s (EPF) move to buy Malaysia Airports Holdings Bhd’s (MAHB) shares at RM11 per unit is aimed at positioning the company for a future relisting at a higher valuation.

Finance Minister II Datuk Seri Amir Hamzah Azizan said the EPF’s involvement focused on strategic value creation, a new business strategy, and the execution of MAHB’s recovery and improvement plans.

“This can only be achieved through MAHB’s operational transformation,” he said during the Minister’s Question Time in the Dewan Rakyat today.

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He said this in response to a supplementary question from Chong Zhemin (PH-Kampar) on why the EPF needed to sell MAHB’s shares before announcing its dividends and how the fund plans to ensure MAHB’s privatisation is successful and benefits EPF members.

Amir Hamzah emphasised that the voluntary takeover offer by the consortium -- which included the EPF --to acquire all remaining MAHB shares at RM11 apiece represents a long-term investment for the fund.

Amir Hamzah said as per Section 27 of the EPF Act 1991, the EPF’s dividend announcement is based on the actual performance of its investments.

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“The EPF’s Public Equity Department began selling its MAHB holdings in January 2023 -- back when it held a 15.5 per cent stake in the airport operator -- to capitalise on market gains as MAHB’s share price outperformed the FBM KLCI during that time.

“It is important to note that discussions and assessments for the Voluntary General Offer (VGO) only began in July 2023. The fund managers in EPF’s Public Equity Department had no knowledge of or access to information regarding the offer,” he said.

On Feb 13, 2025, MAHB submitted its application to be delisted from Bursa Malaysia’s Main Market, with its shares set to trade publicly for the last time on Feb 19, 2025. Trading will be suspended from Feb 20.

According to Amir Hamzah, following the delisting, the consortium leading the privatisation will focus on upgrading infrastructure, enhancing connectivity, and improving passenger experience.

“While these improvements may not seem crucial to MAHB’s recovery at first glance, they form the foundation of its strategic transformation,” he added.

The minister also emphasised that investment and service enhancements would extend beyond major international airports like Kuala Lumpur International Airport (KLIA), Penang, and Kota Kinabalu, with upgrades planned for airports in Tawau, Kota Bharu, and Ipoh.

-- BERNAMA