The Employers Provident Fund (EPF) has been accumulating shares of Felda Global Ventures Holdings (FGVH) even as shares of the plantation giant sank to a new low yesterday, closing at RM4.68 a share or just 13 sen above its issuing price.
According to filings with Bursa Malaysia, the country's largest pension fund's stake in FGVH have increased 5.4 per cent since September 3, the day before FGVH plunged below the RM5 mark.
The pension fund also recently spent RM2.4 billion to take over the Rubber Research Institute (RRI) land in Sungai Buloh that will be turned into a township. It is mandatory for private sector workers to contribute to the fund, which is managed by representatives from the government and unions.
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