The report said EPF is looking into the sale of assets held by its Malaysian education real estate investment trust, Alpha REIT, which is being wound up. A sale could take place in the first quarter of 2023, sources told Reuters.

Alpha REIT owns Sri KDU international schools in Klang, Kota Damansara and Subang Jaya; an international school at ParkCity; and Eaton International School in Kajang.

EPF confirmed that Alpha REIT was being wound up as part of a regular portfolio rebalancing exercise with the date for the sale to be determined by the trust.

Alpha REIT said in an emailed response to Reuters that “EPF had undertaken the decision to sell the education assets under Alpha REIT on its own will and sole discretion”.

The Reuters report said the planned sale comes at a time when rising interest rates globally are denting the appeal of real estate investment trusts over fears that returns will be affected negatively.