EPF previously held a 15.5% stake in MAHB but sold part of its shares in 2023 at prices between RM6.80 and RM7.70 per share. It subsequently bought back shares at RM11 per unit.

Amir said EPF strictly complies with the Capital Markets and Services Act 2007 and uses a “Chinese Wall” policy, which keeps its share trading team separate from its investment team.

This prevents wrongful access to insider information, especially in cases like MAHB’s privatisation, he said.

“EPF strictly follows its information barrier policy to prevent any conflict of interest. The department handling public equity trading does not have access to confidential information regarding strategic investments,” he told the Dewan Rakyat.

Amir was responding to a question by Chong Zhemin (PH-Kampar) over the profits or losses made by EPF over its MAHB shares.

He also denied claims that EPF had lost money, saying its share trading strategy made RM102 million in profit from the sale of MAHB shares in 2023.

He said EPF’s total investment income in 2023 was RM63.48 billion, which allowed it to declare a 5.5% dividend for conventional savings and 5.4% for shariah savings.

Wee Ka Siong (BN-Air Hitam) had earlier asked whether “those above the wall”, especially senior decision-makers at EPF, had knowledge of both the trading and privatisation plans before the sale.

“Khazanah Nasional Bhd did not sell its shares (in MAHB) and it ultimately benefited from the higher offer price under the privatisation deal. So why did EPF take a different approach?” he asked.