The Employees Provident Fund (EPF) confirmed that its investment in Malaysia Airports Holdings Bhd (MAHB) is part of its long-term strategy to generate income for dividend payments.
The EPF has been a shareholder in MAHB for 25 years.
Recently, the EPF, as part of the Gateway Development Alliance (GDA) consortium, offered to buy MAHB shares at RM11 per share.
The move is aimed at securing sustainable returns, with GDA members including the EPF, UEM Group Bhd, Abu Dhabi Investment Authority, and BlackRock Global Infrastructure Partners.
To protect confidential financial data, the EPF adheres to a strict internal policy known as the “Chinese Wall”.
This rule prevents the team handling strategic bids from accessing sensitive and non-public information.
However, five independent directors of MAHB have advised shareholders to reject the offer, believing that RM11 per share undervalues the company.
A fair value is estimated at RM12.61 to RM13.71.
GDA has extended the deadline for shareholders to accept the offer to 17 January, allowing more time for consideration.
