The Employees Provident Fund (EPF) yesterday refuted statements by Sarawak Report in its blog and Facebook page regarding alleged transfers of funds to certain parties or individuals.
In a statement, EPF said it had never had any dealings with or entered into any agreements of any sort with Limage Holdings SA, Limage Southwest Holdings, the individual known as Matrai or any parties as stated by Sarawak Report.
“As such, no transfer of bonds nor funds of any kind to any of the aforementioned companies, parties or individuals could have occurred as alleged,” it said.
According to EPF, a fake “letter of indemnity” dated Aug 20, 2015, addressed to Gyorgy Matrai of Limage Holding SA alleging an agreement between EPF and Limage Holdings SA was made known to it on Oct 26, 2015.
“As this was clearly a falsified document, EPF lodged a police report on Oct 28, 2015.
“A ‘letter of award’ (LOA), titled ‘Development and Construction of Integrated Medical City Project For EPF’ from TripleNiceTales Sdn Bhd dated May 18, 2015 was made known to EPF on Feb 24, 2016,” it added.
As suspicion of fraud was involved, and there were third parties misusing its name, EPF said it had lodged a police report on Feb 26, 2016, stating that it had no knowledge of or involvement in the transaction referred to in the LOA.
“The involvement of Ladylaw Securities Pte Ltd and Nic Manikis was made known to EPF on Jan 20, 2017, and a police report was made on Jan 23, 2017, stating that EPF has no knowledge nor was involved in any investment transactions with Ladylaw Securities or Nik Manikis,” EPF said.
The fund said any schemes of this nature would not pass its governance framework.
“Before any investment decisions are made, our governance process requires all proposals be subjected to stringent risk assessments and due diligence by the management.
“All approvals must go through the Management Investment Committee for endorsement before being put up to the Investment Panel for final approval,” it said.
The Investment Panel comprises industry professionals and senior members of EPF’s management, Bank Negara Malaysia and the government.
“We remain steadfast in fulfilling our mandate to protect and safeguard our members’ savings,” EPF said.