Kuala Lumpur, February 18 – The Employees Provident Fund (KWSP) decision to sell Malaysia Airports Holdings Bhd (MAHB) shares at a low price of RM5.40-RM7.36 per unit in 2023 and then repurchase them at RM11.00 per unit through an investment consortium has raised serious concerns among the public.
For many, the justification that this is a “long-term investment” is insufficient to mask the fact that KWSP is currently facing significant losses. The hard-earned money of contributors, which should be managed prudently, is now at risk due to a questionable investment strategy.
Reality: Selling Low, Buying High
In 2023, KWSP sold its MAHB shares at prices between RM5.40 and RM7.36 per unit, recording a short-term profit of RM100.7 million. However, less than a year later, KWSP, through a consortium, made a voluntary offer to repurchase the same shares at RM11.00 per unit.
The big question remains: why did KWSP sell the shares at a lower price and later buy them back at a much higher price? If the main reason was long-term investment potential, why not retain the shares from the beginning? This raises speculation about potential weaknesses in KWSP’s investment strategy or hidden interests influencing the decision.
KWSP is Losing Money Now – Contributors Deserve Answers
KWSP can argue that this is a “strategic long-term investment,” but the reality today shows that a clear financial loss has occurred. The short-term profit of RM100.7 million does not justify the significant price gap between selling and repurchasing the shares. If KWSP genuinely saw growth potential in MAHB, why sell in the first place?
This decision raises concerns that KWSP may not be prioritizing the best interests of its contributors. Every ringgit in the KWSP fund belongs to hardworking Malaysians saving for their future, and financial losses like this can have a direct negative impact on millions of retirees.
The Public Wants Transparency, Not Excuses
KWSP contributors deserve a clearer explanation regarding the rationale behind this decision. Using the “long-term value” argument to justify an apparent current loss will only erode public trust in the management of their retirement funds.
As the country’s primary retirement fund, KWSP must act with greater transparency and prudence in every investment decision. Malaysians need assurance that every sen in KWSP is being optimally utilized to secure their retirement savings, not used for speculation in the stock market.
This move clearly exposes weaknesses in planning, and the public has every right to ask: Is KWSP truly prioritizing its contributors, or is there another hidden agenda at play?