Employees Provident Fund's statement on Sarawak Report postings
The Employees Provident Fund (EPF) strongly refutes the statements by Sarawak Report in its blog and Facebook posting today.
The EPF has never had any dealings nor entered into any agreements of any sort with Limage Holdings SA, Limage Southwest Holdings, the individual known as Mr 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.
The chronological order of events known to the EPF are as follows :
- A fake ‘Letter of Indemnity’ dated August 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 October 26, 2015. As this was clearly a falsified
document, the EPF lodged a police report on October 28, 2015.
- A ‘Letter of Award’ titled “Development and Construction of Integrated Medical City Project For EPF” from TripleNiceTales Sdn Bhd dated May 18, 2015 was made known to the EPF on February 24, 2016. As there were third parties misusing the EPF name
and suspicion of fraud involved, the EPF lodged a police report on February 26, 2016 stating that the EPF has no knowledge nor involvement in the transaction referred to in the ‘Letter of Award’.
- The involvement of Ladylaw Securities Pte Ltd and Nic Manikis was made known to the EPF on January 20, 2017 and a police report was made on January 23, 2017 stating that the EPF has no knowledge nor was involved in any investment transaction with
Ladylaw Securities nor Nik Manikis.
The EPF states that any schemes of these nature would not pass the EPF’s strong and robust governance framework. Before any investment decisions are made, our governance process requires all proposals to be subject to stringent risk assessment and due diligence by management.
All approvals must go through the Management Investment Committee for endorsement before being put up to the Investment Panel for final approval. The Investment Panel comprises industry professionals, senior members of EPF management, Bank Negara Malaysia and the Government.
The EPF remains steadfast in fulfilling our mandate to protect and safeguard our members’ savings.