EPF Refutes Sarawak Report Statements In Blog, Facebook Posting

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KUALA LUMPUR, Mar 1 – The Employees Provident Fund (EPF) has strongly refuted the statements by Sarawak Report in its blog and Facebook posting today. In a statement today, EPF said, its has never had any dealings nor entered into any agreements of any sort with Limage Holdings SA, Limage Southwest Holdings, the individual known as Matrai nor any parties as stated by the Sarawak Report.

“As such, no transfer of bonds nor funds of any kind to any of the aforementioned companies, parties or individual could have occurred as alleged,” it said. According to EPF, a fake ‘Letter of Indemnity’ dated Aug 20, 2015 addressed to Gyorgy Matrai of Limage Holding S. A. alleging an agreement between the EPF and Limage Holdings S.A. was made known to the EPF on Oct 26, 2015.

“As this was clearly a falsified document, the EPF lodged a police report on Oct 28, 2015. A ‘Letter of Award’ (LOA), titled ‘Development and Construction of Integrated Medical City Project For EPF’ from TripleNiceTales Sdn Bhd dated May 18, 2015 was made known to EPF on Feb 24, 2016,” it said.

As there were third parties misusing EPF’s name and suspicion of fraud was involved, EPF said, it lodged a police report on Feb 26, 2016 stating that it has no knowledge nor involvement in the transaction referred to in the LOA. “The involvement of Ladylaw Securities Pte Ltd and Nic Manikis was made known to EPF on Jan 20, 2017, and a police report was made on Jan 23, 2017 stating that EPF has no knowledge nor was involved in any investment transaction with Ladylaw Securities nor Nic Manikis,” EPF said.

The fund said any schemes of these nature would not pass its strong and robust governance framework. “Before any investment decisions are made, our governance process requires all proposals to be subjected to stringent risk assessment and due diligence by the management. All approvals must go through the Management Investment Committee for endorsement before being put up to the Investment Panel for final approval,” it said.

The Investment Panel comprised industry professionals, senior members of EPF’s management, Bank Negara Malaysia and the government. “We remain steadfast in fulfilling our mandate to protect and safeguard our members’ savings,” EPF said. — Bernama

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