Malaysia $311 Billion Pension Employees Provident Fund (EPF) 56 Subsidiaries Reported $252 Million (MYR 980 Million) Profit in 2024, 35 Subsidiaries Reported $619 Million (MYR 2.41 Billion) Profit in 2024 & 21 Subsidiaries Reported $368 Million (MYR 1.43 Billion) Losses in 2024
27th February 2026 | Hong Kong
Malaysia pension Employees Provident Fund (EPF) with $311 billion AUM 56 subsidiaries had reported $252 million (MYR 980 million) profit in 2024, with 35 subsidiaries reporting $619 million (MYR 2.41 billion) profit in 2024 & 21 subsidiaries reporting $368 million (MYR 1.43 billion) losses in 2024. In 2025 December, Employees Provident Fund (EPF) appointed Mohamad Hafiz Kassim as Chief Investment Officer (CIO) succeeding Rohaya Mohammad Yusof, and Ahmad Rizal Omar appointed as Chief Financial Officer (CFO) succeeding Mohamad Hafiz Kassim (Effective 1/12/25). EPF CEO is Ahmad Zulqarnain Onn. In 2025 August, Malaysia pension Employees Provident Fund (EPF) announced the appointment of Mohamad Hafiz Kassim as Chief Investment Officer to succeed Rohaya Mohammad Yusof who will be retiring in 2025 November. Mohamad Hafiz Kassim is currently the Chief Finance Officer. The Deputy Chief Investment Officer is Lim Tze Seong. In 2025 August, Malaysia pension Employees Provident Fund (EPF) reported $311 billion (MYR 1.3 trillion) AUM in 2025 June, and $9.2 billion (MYR 38.9 billion) investment income for 2025 1st half. Portfolio Allocation – Equities 45%, Fixed Income 46%, Real Estate & Infrastructure 7% & Money Market 2%. Employees Provident Fund (EPF) has total 16.4 million members with 8.9 million active members. In 2025 March, Malaysia Employees Provident Fund (EPF) declared 6.3% dividend for 2024 for both Conventional & Syariah Savings accounts. EPF Conventional Savings dividend payout ranges from 5.2% to 6.1% yearly in last 5 years. Syariah Savings dividend payout ranges from 4.75% to 5.65% yearly in last 5 years. Malaysia has 16 million EPF members with 8.8 million active members. In 2024 May, Malaysia Employees Provident Fund (EPF) allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
“ Malaysia $311 Billion Pension Employees Provident Fund (EPF) 56 Subsidiaries Reported $252 Million (MYR 980 Million) Profit in 2024, 35 Subsidiaries Reported $619 Million (MYR 2.41 Billion) Profit in 2024 & 21 Subsidiaries Reported $368 Million (MYR 1.43 Billion) Losses in 2024 “
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Malaysia Pension $311 Billion Employees Provident Fund (EPF) Appoints Mohamad Hafiz Kassim as Chief Investment Officer (CIO) Succeeding Rohaya Mohammad Yusof & Ahmad Rizal Omar as Chief Financial Officer (CFO) Succeeding Mohamad Hafiz Kassim (Effective 1/12/25), EPF CEO is Ahmad Zulqarnain Onn
3rd December – Malaysia pension Employees Provident Fund (EPF) with $311 billion AUM has appointed Mohamad Hafiz Kassim as Chief Investment Officer (CIO) succeeding Rohaya Mohammad Yusof, and Ahmad Rizal Omar appointed as Chief Financial Officer (CFO) succeeding Mohamad Hafiz Kassim (Effective 1/12/25). EPF CEO is Ahmad Zulqarnain Onn. Announcement (1/12/25): “years of financial industry & private banking experienceThe Employees Provident Fund (EPF) today announces the appointment of Mohamad Hafiz Kassim as its new Chief Investment Officer (CIO) and Ahmad Rizal Omar as Chief Financial Officer (CFO). Both appointments are effective 1 December 2025. Mohamad Hafiz succeeds Rohaya Mohammad Yusof, who has led the Investment Division for the past five years. Mohamad Hafiz has served the EPF since 2008, holding senior leadership roles across Private Equity, Private Market, Capital Market, and Real Estate portfolios. He also served as Managing Director of Kwasa Land Sdn Bhd from 2020 until 2021. With over 25 years of experience in accounting, private markets and fixed income, Mohamad Hafiz holds a Bachelor’s Degree (Economics) in Accounting and Finance from the London School of Economics and Political Science; is a Fellow of the Association of Chartered Certified Accountants (ACCA); a Chartered Financial Analyst (CFA) charterholder; and has attended the Advanced Management Programme at Harvard Business School. His extensive experience across the Finance and Investment divisions, combined with deep institutional knowledge, positions him strongly to lead the EPF’s investment strategy forward. Ahmad Rizal, formerly the Head of Finance Department, succeeds Mohamad Hafiz as CFO. He is a chartered accountant with over two decades of experience. Ahmad Rizal holds a Master of Finance from the University of Cambridge and a Bachelor of Business (Accountancy) from the Royal Melbourne Institute of Technology. He brings deep expertise in investment evaluation, corporate finance, and financial management. Before joining the EPF, he served as CFO at PLUS Malaysia Bhd and held senior roles at Istanbul Sabiha Gökçen International Airport, Malaysia Airports Holdings Bhd, Khazanah Nasional Bhd, and Axiata Group Bhd … … The EPF records its sincere appreciation to Rohaya for her dedicated service and exceptional leadership.” In 2025 August, Malaysia pension Employees Provident Fund (EPF) announced the appointment of Mohamad Hafiz Kassim as Chief Investment Officer to succeed Rohaya Mohammad Yusof who will be retiring in 2025 November. Mohamad Hafiz Kassim is currently the Chief Finance Officer. The Deputy Chief Investment Officer is Lim Tze Seong. In 2025 August, Malaysia pension Employees Provident Fund (EPF) reported $311 billion (MYR 1.3 trillion) AUM in 2025 June, and $9.2 billion (MYR 38.9 billion) investment income for 2025 1st half. Portfolio Allocation – Equities 45%, Fixed Income 46%, Real Estate & Infrastructure 7% & Money Market 2%. Employees Provident Fund (EPF) has total 16.4 million members with 8.9 million active members. In 2025 March, Malaysia Employees Provident Fund (EPF) declared 6.3% dividend for 2024 for both Conventional & Syariah Savings accounts. EPF Conventional Savings dividend payout ranges from 5.2% to 6.1% yearly in last 5 years. Syariah Savings dividend payout ranges from 4.75% to 5.65% yearly in last 5 years. Malaysia has 16 million EPF members with 8.8 million active members. In 2024 May, Malaysia Employees Provident Fund (EPF) allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
EPF CEO Ahmad Zulqarnain Onn: “Mohamad Hafiz brings a wealth of experience, steady leadership, and a strong understanding of the EPF’s long-term investment philosophy. His background in both investment and finance makes him the ideal individual to lead this critical portfolio. We are confident that under his stewardship, the EPF will continue delivering resilient and sustainable returns for our members. We also congratulate Ahmad Rizal on his appointment as the new CFO. His proven leadership and financial acumen will continue to strengthen the EPF’s financial management and governance … … On behalf of the EPF, I extend our heartfelt gratitude to Rohaya for her contributions over the past 17 years. Her leadership and integrity have strengthened the EPF’s investment capabilities and helped safeguard members’ retirement savings through both challenging and transformative periods. We thank her sincerely and wish her every success in her next chapter.”
Malaysia Pension $311 Billion Employees Provident Fund (EPF) Appoints Mohamad Hafiz Kassim as Chief Investment Officer to Succeed Rohaya Mohammad Yusof Who Will Retire in 2025 November, Mohamad Hafiz Kassim is Currently Chief Finance Officer, Deputy Chief Investment Officer is Lim Tze Seong
25th August – Malaysia pension Employees Provident Fund (EPF) with $311 billion AUM has announced the appointment of Mohamad Hafiz Kassim as Chief Investment Officer to succeed Rohaya Mohammad Yusof who will be retiring in 2025 November. Mohamad Hafiz Kassim is currently the Chief Finance Officer. The Deputy Chief Investment Officer is Lim Tze Seong. In 2025 August, Malaysia pension Employees Provident Fund (EPF) reported $311 billion (MYR 1.3 trillion) AUM in 2025 June, and $9.2 billion (MYR 38.9 billion) investment income for 2025 1st half. Portfolio Allocation – Equities 45%, Fixed Income 46%, Real Estate & Infrastructure 7% & Money Market 2%. Employees Provident Fund (EPF) has total 16.4 million members with 8.9 million active members. In 2025 March, Malaysia Employees Provident Fund (EPF) declared 6.3% dividend for 2024 for both Conventional & Syariah Savings accounts. EPF Conventional Savings dividend payout ranges from 5.2% to 6.1% yearly in last 5 years. Syariah Savings dividend payout ranges from 4.75% to 5.65% yearly in last 5 years. Malaysia has 16 million EPF members with 8.8 million active members. In 2024 May, Malaysia Employees Provident Fund (EPF) allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
Malaysia Pension Employees Provident Fund (EPF) Reports $311 Billion (MYR 1.3 Trillion) AUM in 2025 June & $9.2 Billion (MYR 38.9 Billion) Investment Income for 2025 1H, Portfolio Allocation – Equities 45%, Fixed Income 46%, Real Estate & Infrastructure 7% & Money Market 2%, Total 16.4 Million Members with 8.9 Million Active Members
25th August – Malaysia pension Employees Provident Fund (EPF) has reported $311 billion (MYR 1.3 trillion) AUM in 2025 June, and $9.2 billion (MYR 38.9 billion) investment income for 2025 1st half. Portfolio Allocation – Equities 45%, Fixed Income 46%, Real Estate & Infrastructure 7% & Money Market 2%. Employees Provident Fund (EPF) has total 16.4 million members with 8.9 million active members. In 2025 March, Malaysia Employees Provident Fund (EPF) declared 6.3% dividend for 2024 for both Conventional & Syariah Savings accounts. EPF Conventional Savings dividend payout ranges from 5.2% to 6.1% yearly in last 5 years. Syariah Savings dividend payout ranges from 4.75% to 5.65% yearly in last 5 years. Malaysia has 16 million EPF members with 8.8 million active members. In 2024 May, Malaysia Employees Provident Fund (EPF) allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
Malaysia Pension $260 Billion (MYR 1.1 Trillion) Employees Provident Fund (EPF) Declares 6.3% Dividend for 2024 for Both Conventional & Syariah Savings Accounts, EPF Conventional Savings Dividend Payout Ranges from 5.2% to 6.1% Yearly in Last 5 Years, Syariah Savings Dividend Payout Ranges from 4.75% to 5.65% Yearly in Last 5 Years, 16 Million EPF Members with 8.8 Million Active Members
3rd March 2025 – Malaysia pension $260 billion (MYR 1.1 trillion) Employees Provident Fund (EPF) has declared 6.3% dividend for 2024 for both Conventional & Syariah Savings accounts. EPF Conventional Savings dividend payout ranges from 5.2% to 6.1% yearly in last 5 years. Syariah Savings dividend payout ranges from 4.75% to 5.65% yearly in last 5 years. Malaysia has 16 million EPF members with 8.8 million active members. In 2024 May, Malaysia Employees Provident Fund (EPF) with $242 billion AUM had allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
Employees Provident Fund (EPF) – The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991.
Malaysia $242 Billion Employees Provident Fund Allocated $40 Billion Assets Representing 17% of AUM to External Asset Managers in 2023, Recognized BNP Paribas Asset Management as Best Global Bond Manager in 2023, Amundi Asset Management as Best Global Equity Manager in 2023 & Malaysia AHAM Capital Asset Management as Best Domestic Equity Fund Manager in 2023
29th May 2024 – Malaysia Employees Provident Fund (EPF) with $242 billion AUM had allocated $40 billion assets representing 17% of AUM to external asset managers in 2023, and recognizing BNP Paribas Asset Management as best global bond manager in 2023, Amundi Asset Management as best global equity manager in 2023 & Malaysia AHAM Capital Asset Management as best domestic equity fund manager in 2023. In January 2024, Malaysia Employees Provident Fund (EPF) appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn was the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
Malaysia $230 Billion Employees Provident Fund EPF Appoints Ahmad Zulqarnain Onn as New CEO, Currently CEO of Malaysia Largest Asset Manager & State-Owned Permodalan Nasional Berhad PNB with $72 Billion AUM, Succeeds Datuk Seri Amir Hamzah Azizan Who was Appointed as Malaysia Finance Minister II in 2023 December
31st January 2024 – Malaysia Employees Provident Fund (EPF) with $230 billion AUM (Assets under Management) has appointed Ahmad Zulqarnain Onn as the new CEO of EPF (19/2/24). Ahmad Zulqarnain Onn is currently the CEO of Malaysia’s largest asset manager & state-owned Permodalan Nasional Berhad (PNB) with $72 billion AUM (MYR 343 billion), succeeding Datuk Seri Amir Hamzah Azizan who was appointed as Malaysia Finance Minister II in 2023 December. The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991. PNB: “The Board of Directors of Permodalan Nasional Berhad (PNB) wishes to announce the resignation of Ahmad Zulqarnain Onn from the position of President & Group Chief Executive (PGCE) effective 16th February 2024. After more than 3 years with PNB, Ahmad Zulqarnain Onn will assume the position of Chief Executive Officer at the Employees Provident Fund.”
Employees Provident Fund (EPF)
The Employees Provident Fund (EPF) is one of the world’s oldest provident funds, founded in 1951. EPF helps the Malaysian workforce to save for their retirement in accordance to the Employees Provident Fund Act 1991.
Permodalan Nasional Berhad (PNB)
Permodalan Nasional Berhad (PNB) is one of the largest fund management companies in Malaysia with assets under management (AUM) exceeding RM300 billion. PNB’s portfolio covers strategic investments in Malaysia’s leading corporates, global equities, private investments and real estate. For over four decades, we remain focused in contributing to the wealth of Bumiputeras and all Malaysians and are dedicated to fulfilling our purpose to uplift the financial lives of Malaysians across generations. We are committed to sustainability, responsible practices, and the creation of an inclusive future that benefits both our stakeholders and the communities we serve.
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