: The Ministry of Finance takes into account the mandate for establishing statutory bodies, their investment risk management and investment expertise when considering the types of investments they are permitted to make.
He said that the federal statutory bodies with government-linked investment company status, including the Employees Provident Fund, the Retirement Fund Inc and Lembaga Tabung Haji, have a founding mandate with core investment activities and a team of officers with expertise in managing investment portfolios.
He was replying to a question from Wong Shu Qi who wanted to know whether the federal statutory bodies and non-statutory bodies were allowed to invest in options, private equity and foreign exchange. For instance, he said, KWAP requires MoF’s approval in appointing investment panel members and to make investments in assets such as buildings and private equity. The ministry also limits the percentage of investments that can be made abroad.