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first_imgMalaysia’s Employees Provident Fund (EPF) has reported a record 58% year-on-year surge in return in the first quarter of the year, driven by equity investments.For the quarter ended 31 March, investment income reached MYR8.8bn (€2bn), compared with MYR5.6bn in the corresponding quarter in 2013.About 52% of the fund is invested in fixed income instruments, 43% in equities and the rest in money market instruments, real estate and infrastructure.Overseas exposure constitutes 21% of total investment assets. Returns from the fund’s global investments make up about 27% of all income generated.As at March 31, investment assets stood at about MYR600bn, an 11.3% increase from the year-earlier period.During the quarter under review, the fund’s equity portfolio was the biggest contributor, generating an investment income of MYR4.8bn, compared with MYR1.9bn in Q1 2013.Chief executive Datuk Shahril Ridza Ridzuan said: “High trading volume and liquidity in the equity markets, particularly global developed markets, provided us with timely opportunities to realise gains from earlier equity investments.“In addition, we benefited from a steady stream of dividends received from the listed companies we invested in.”Income from real estate and infrastructure increased by 37%, while returns from loans and bonds climbed 4%.The EPF said the marginal increase in income was primarily due to maturing investments reinvested at lower rates given the low interest rate regime.Income from Malaysian government securities and equivalents increased by 4%, while money market instruments contributed almost MYR80m in the quarter under review.Commenting on the outlook for the rest of the year, Shahril said: “Although we are optimistic the Malaysian economy will record better growth this year on expectations of export recovery supported by resilient domestic demand, we remain vigilant, particularly over the uncertainties surrounding the movements of capital as long-term interest rates adjust following recovery in key markets.”last_img read more

first_imgRelatedPosts Bale completes Tottenham return from Real Madrid Live stream Premier League, La Liga, Serie A on Showmax Pro this weekend Neymar bags two-match ban Neymar has been ordered to pay former club Barcelona £6.1 million (€6.7m) after the Paris Saint-Germain forward lost a lawsuit over an unpaid bonus.The La Liga champions confirmed in a statement on Friday that the Brazil forward’s claim to a £39.5 million (€43.6 million) bonus had been “fully dismissed”. Neymar left the Blaugrana for PSG back in 2017 for a world record fee of £201 million (€222m) but pursued a court ruling concerning the terms of the last contract he signed at the Nou Camp a year earlier.The 28-year-old had been linked with a return to the Nou Camp over the last year with a move close last summer, but the court ruling appears to have now ended any potential future move.A club statement read: “Barcelona expresses its satisfaction with the verdict announced today in relation to the lawsuit involving FC Barcelona and the player Neymar Jr regarding the amount of the signing bonus in the final renewal of the player’s contract.“The ruling has fully dismissed the player’s claim for payment of 43.6 million euros, and has accepted a large part of the defence presented by FC Barcelona, as a result of which the player must return 6.7 million euros to the club.“Since the player’s representative is entitled to appeal this decision, the club shall continue to fervently defend its legitimate interests.” The Santos academy graduate has two years remaining on his contract in the French capital.Neymar will hope to play a part in PSG’s efforts to break through and claim a maiden Champions League title.Injury prevented Neymar’s involvement in the knock-out stages of PSG’s last two campaigns.Though a last 16 victory over Borussia Dortmund, which saw Neymar score in the second-leg comeback at the Parc des Princes, has galvinised Thomas Tuchel’s group.Though Ligue 1 has been ended prematurely due to coronavirus, which will mean PSG are unable to play competitive matches before the last eight, which will resume on 12 August as part of an innovative mini-tournament in Lisbon. —Tags: BlaugranaLa LigaNeymarParis Saint-Germainlast_img read more

first_imgConcerns raised by citizens regarding tonight’s four-hour closure of the Demerara Harbour Bridge (DHB) are centred on the weekend’s increased activities relative to entertainment gatherings in Region Three (Essequibo Islands-West Demerara), but the DHBC has said those timings are final and the bridge will be subjected to closure and maintenance during that period of time.General Manager of the Demerara Harbour Bridge Corporation (DHBC), RawlstonDemerara Harbour BridgeAdams, on Friday noted he is aware that commuters who expect to utilize the bridge during that time would be inconvenienced by the works, but the company is expected to work on a schedule which is not influenced by any public matter.“Those works will inconvenience them because [of] the timing. We do apologise for that, but unfortunately we don’t schedule our works around entertainment activities; (our works are) based on what needs to be done,” he stated.Commuters are being advised to traverse the bridge before its closure, to avoid any disruption in their scheduled activities.“We do apologise to those people, and we tell them to go over (the bridge) early, they’ll have more time to have more fun. So I’m hoping that they get over early. We’re finishing at two, so if they’re finished by then, we’ll just be finished for them to come over back,” he said, referring to those who would be travelling to the West Coast for planned entertainment activities.The bridge is expected to be closed for four hours, from 22:00h to 02:00h Saturday morning, for emergency maintenance works.last_img read more