The Ministry of Finance is confident the Retirement Provident Fund can reach its target of RM200 billion in fund size by 2025.
Finance Minister, Tengku Zafrul also noted the pension fund is able to grow its property assets to 30 from the current holding of 17 and have more than 35 subsidiaries within the next 3 years.
He aded KWAP also aims to increase the number of property assets to more than 30 from 17 and have more than 35 subsidiaries within the same period.
“KWAP has thrived as a company group that has expanded its investment portfolio three-fold from funds worth RM41.9 billion in 2007 to around RM159 billion today,” he said at the launch of the KWAP transformation plan here today. TERAS 5 is part of a long-term policy plan to increase the size of the fund more effectively and remain sustainable.
Tengku Zafrul said that as key players and investors, government-linked companies (GLCs) and government-linked investment companies (GLICs) are an important pillar of Malaysia’s economic base and contribute approximately RM445 billion or 25 per cent of the Bursa Malaysia market and provide employment opportunities to more than 500,000.