EPF borrows RM1.4b loan in UK: report

Dec 19: The Employee Provident Fund has reportedly borrowed £300 million for real estate purposes in the United Kingdom. According to Bloomberg, the EPF had made the five-year loan arranged by Citigroup Inc. to buy properties in London in what the report said was EPF's first offshore facility. The report said the fund initially targeted £240 million and increased the amount after receiving a strong response from banks. "Banks consider Employee Provident Fund to be a quasi-sovereign borrower, the person said,” adds the report. Earlier this month, PAS vice president Husam Musa revealed that EPF’s loan to the Federal government would amount to RM240 billion if security and federal government bonds were taken into account. He pointed out that the figure of RM240 billion had yet to include EPF’s loan to government-linked companies.