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Malaysia’s EPF announces record dividend payout for 2023



Malaysia’s Employees Provident Fund (EPF) has declared a record dividend payout of MYR57.8bn (USD12.2m) for 2023, with a 5.5% rate for conventional and 5.4% for shariah accounts. CEO Ahmad Zulqarnain Onn highlighted that real dividends, after inflation, stand at 2.89% and 2.51% respectively. EPF’s active membership reached 8.5 million, divided between conventional and shariah accounts. This year’s conventional account dividend slightly surpasses 2022’s 5.35%, though it doesn’t match the peak 8.5% from the 1980s. The announcement follows a 29% increase in total investment income to nearly MYR67bn, contributing to a 13% growth in EPF’s fund size to MYR1.1tr. The fund’s investments, 62% domestic and 38% global, yielded substantial returns, especially from US markets. Zulqarnain mentioned maintaining a cautious investment strategy, aligning with calls for increased domestic investment.

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