Tuesday, September 07, 2010
Chief executive officer Tan Sri Azlan Zainol said the positive performance was mainly due to the country's robust economic growth in the first half of the year. "The increase in performance was primarily encouraged by improvements in both domestic and global equity markets and supported by the higher interest rates compared to the previous corresponding period," he said in a statement here today.
He said the growth was led significantly by equities that contributed RM2.72 billion. Loans and bonds was the second largest contributor with an income of RM1.90 billion, an increase by 4.72 per cent over the RM1.81 billion earned in the same quarter of 2009.
However, there was 1.02 per cent decline in income from investments in the Malaysian Government Securities which contributed RM1.10 billion, compared with RM1.11 billion previously. Investment income derived from Money Market Instruments, meanwhile, posted the most significant increase at 94.23 per cent to contribute RM183.10 million against RM94.27 million in second quarter of last year. The increase was attributed to higher asset holding and interest rates.
EPF also saw higher income from properties where it rose by 9.37 per cent compard with the previous corresponding quarter, contributing RM22.76 million. Going forward, Azlan said although EPF had performed well in the first half of this year, the pension fund remained cautious over the outlook in the second half.
"Nonetheless, we will continuously seek to optimise returns and add value to members' retirement," he added.
written by S.Yogendran at 6:35 PM