Laporan Tahunan KWSP 2012

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Bangunan KWSP,

Jalan Raja Laut,

50350 Kuala Lumpur

Pusat Panggilan KWSP: 03-8922 6000

w w w . k w s p . g o v . m y

LEMBAGA KUMPULAN WANG SIMPANAN PEKERJA

LEMBAGA KUMPULAN WANG SIMPANAN PEKERJA

Laporan Tahunan 2011 Annual Report

KANDUNGANContents

• PernyataanVisi

• PernyataanMisi

2 MaklumatKorporat

4 AhliLembaga

19 AhliSilihGantiLembaga WakilKerajaan

20 AhliPanelPelaburan

27 PengurusanKanan

38 AnugerahDanPencapaian

40 KetuaCawangan/Ketua Perkhidmatan/Ketua Penguatkuasaan

42 CartaOrganisasi

44 PerutusanPengerusi

60 UlasanOperasi

117 PernyataanTadbirUrusKorporat

128 PernyataanKawalanDalaman

131 PernyataanPengurusanRisikoPelaburan

133 PengurusanRisikoDiKWSP143 DiariKorporat2011

147 Statistik

159 PenyataKewangan

367 HartaTanahKWSP2011

380 LokasiIbuPejabat,PejabatPerkhidmatan&Penguatkuasaan

382 IbuPejabat,PejabatCawanganDanKaunterKWSP

40 HeadOfBranches/HeadOf Services/HeadOfEnforcements

42 OrganisationChart

44 Chairman’sStatement

60 ReviewOfOperations

117 StatementOnCorporate Governance

128 StatementOnInternalControl

131 StatementOnInvestmentRiskManagement

133 RiskManagementInEPF143 CorporateDiary2011

147 Statistics

263 FinancialStatements

367 EPF’sProperties2011

380 Headquarters,Service&EnforcementOfficesLocation

382 Headquarters,BranchOfficesAndServiceCounters

• VisionStatement

• MissionStatement

2 CorporateInformation

4 MembersOfTheBoard

19 AlternateMembersOfTheBoard GovernmentRepresentatives

20 MembersOfTheInvestmentPanel

27 SeniorManagement

38 AwardsAndAchievement

PERNYATAAN MISImission statement

PERNYATAAN VISIVision statement

Menyediakan Skim Simpanan Persaraan Yang Terbaik

to Provide the Best Retirement savings scheme

Menjadi Organisasi Keselamatan Sosial Bertaraf Dunia Yang Menyediakan Simpanan Persaraan Yang Terbaik Bagi Rakyat Malaysia

to Be a World-Class social security organisation Providing the Best Retirement savings For malaysians

MaKluMaTKORPORaTCORPORATEInFORMATIOn

AHLI LEMBAGA/MEMBERS OF THE BOARD

PENGERUSI/CHAIRMAN

1) Y.Bhg.TanSriSamsudinbinOsman

WAKIL KERAJAAN/GOVERNMENT REPRESENTATIVES

1) Y.Bhg.Dato’DrMohdIrwanSerigarAbdullah

2) Y.Bhg.TanSriAbuBakarBinHj.Abdullah

3) Y.Bhg.Dato’SeriZainalRahimSeman

4) Y.B.DatukAmarHajiMohamadMorshidiAbdulGhani

5) Y.B.DatukSeriPanglimaHj.SukartiB.Wakiman

WAKIL MAJIKAN/EMPLOYERS’ REPRESENTATIVES

1) Y.Bhg.Dato’AzmanShahHaron

2) Y.Bhg.TanSriDatuk(Dr.)MustafaMansur

3) Y.Bhg.DatukMohdHasnolAyub

4) Y.Bhg.DatukAbdulHamedHajiSepawi

WAKIL PEKERJA/EMPLOYEES’ REPRESENTATIVES

1) EncikMohdKhalidAtan

2) PuanLokYimPheng

3) CikChinYungChiew@Rebecca

WAKIL PROFESIONAL/PROFESSIONAL REPRESENTATIVES

1) Y.Bhg.TanSriDatukSeriLeeLamThye

2) EncikHengHockCheng@HengHeyokChiang

3) EncikHalimHajiDin

EX-OFFICIO/EX-OFFICIO

1) Y.Bhg.TanSriAzlanZainol

AHLI PANEL PELABURAN/MEMBERS OF THE INVESTMENT PANEL

PENGERUSI/CHAIRMAN

1) Y.Bhg.TanSriSamsudinbinOsman

WAKIL KERAJAAN/GOVERNMENT REPRESENTATIVE

1) Y.Bhg.Dato’DrMohdIrwanSerigarAbdullah

WAKIL BANK NEGARA MALAYSIA/ BANK NEGARA MALAYSIA REPRESENTATIVE

1) Y.Bhg.DatuknorShamsiahMohdYunus

WAKIL PROFESIONAL/PROFESSIONAL REPRESENTATIVES

1) Y.Bhg.Dato’SriMohamednazirbinAbdulRazak

2) Y.Bhg.Dato’MohammedAzlanbinHashim

3) EncikDavidLaunaiPek


1) Y.Bhg.TanSriAzlanZainol

AHLI LEMBAGA/AHLI PANEL PELABURAN/AHLI SILIH GANTI YANG BERSARA /TAMAT PERKHIDMATAN/ BOARD MEMBERS/INVESTMENT PANEL MEMBERS/ALTERNATE MEMBERS WHO HAD RETIRED/COMPLETED SERVICE

1) Y.Bhg.Dato’nozirahAbHamid– (tamatperkhidmatanpada31Mei2011/

completed service on 31 may 2011) AhliLembagaWakilKerajaan/

Board member representing the Government

2) Y.Bhg.DatukAbKhalilAbHamid(tamatperkhidmatanpada31Mei2011/completed service on 31 may 2011)

AhliLembagaWakilKerajaan/ Board member representing the Government

3) Y.Bhg.Dato’SegarajahRatnalingam (bersarapada14Januari2011/retiredon14January2011) AhliLembagaWakilKerajaan/


4) Y.Bhg.DatuAbdulGhafurShariff (bertukarpada1Disember2011/transfer on 1 December 2011) AhliLembagaWakilKerajaan/


2 Lembaga Kumpulan Wang Simpanan Pekerja


5) TuanSyedShahirSyedMohamud (tamatperkhidmatanpada31Mei2011/

completed service on 31 may 2011) AhliLembagaWakilPekerja/

Board member representing the employees

6) EncikAhmadShahMohdZin (tamatperkhidmatanpada31Mei2011/



7) EncikAndrewLoKiannyan (tamatperkhidmatanpada31Mei2011/



8) Y.Bhg.DatukDr.HusseinAwang (tamatperkhidmatanpada31Mei2011/

completed service on 31 may 2011) AhliLembagaWakilProfesional/

Board member representing the professional

AHLI LEMBAGA DAN AHLI PANEL PELABURAN YANG BARU DILANTIK/BOARD MEMBERS AND INVESTMENT PANEL MEMBERS WHO ARE NEWLY APPOINTED

1) EncikMaliamiHamad(silihganti) (bermulapada1Jun2011sebagaiAhliLembagaWakil

KerajaanmenggantikanY.Bhg.Dato’nozirahAb.Hamidyangtelahtamatperkhidmatan/effective 1 June 2011 as a Board member representing the Government replacing Y. Bhg. Dato’ nozirah ab. Hamid who completed service)

2) Y.Bhg.DatukFaridaMohdAli(silihganti) (bermulapada1Jun2011sebagaiAhliLembagaWakil

KerajaanmenggantikanY.Bhg.DatukAbKhalilAbHamidyangtelahtamatperkhidmatan/effective 1 June 2011 as a Board member representing the Government replacing Y. Bhg. Datuk ab Khalil ab Hamid who completed service)

3) Y.Bhg.Dato’SeriZainalRahimSeman (bermulapada15Januari2011sebagaiAhliLembagaWakil

KerajaanmenggantikanY.Bhg.Dato’SegarajahRatnalingamyangtelahbersara/effective 15 January 2011 as a Board member representing the Government replacing Y. Bhg. Dato’ segarajah Ratnalingam who retired)

4) Y.Bhg.DatuHajiMisnuHajiTaha(silihganti) (bermulapada1Disember2011sebagaiAhliLembagaWakil

KerajaanmenggantikanY.Bhg.DatuAbdulGhafurShariffyangtelahbertukar/effective 1 December 2011 as a Board member representing the Government replacing Y. Bhg. Datu abdul Ghafur shariff who transferred)

5) EncikMohdKhalidAtan (bermulapada1Jun2011sebagaiAhliLembagaWakil

PekerjamenggantikanTuanSyedShahirSyedMohamudyangtelahtamatperkhidmatan/effective 1 June 2011 as a Board member representing the employees replacing tuan syed shahir syed mohamud who completed service)

6) PuanLokYimPheng (bermulapada1Jun2011sebagaiAhliLembagaWakil

PekerjamenggantikanEncikAhmadShahMohdZinyangtelahtamatperkhidmatan/effective 1 June 2011 as a Board member representing the employees replacing encik ahmad shah mohd Zin who completed service)

7) EncikHengHockCheng@HengHeyokChiang (bermulapada1Jun2011sebagaiAhliLembagaWakil

ProfesionalmenggantikanY.Bhg.DatukDrHusseinAwangyangtelahtamatperkhidmatan/effective 1 June 2011 as a Board member representing the Professional replacing Y. Bhg.Datuk Dr Hussein awang who completed service)

ALAMAT IBU PEJABAT/HEADQUARTERS ADDRESSKumpulanWangSimpananPekerjaBangunanKWSPJalanRajaLaut50350KualaLumpur

Tel:03-26946566/7566/8566/9566

Faks/Fax:03-26948433LamanWeb/Website:http://www.kwsp.gov.my

3Lembaga Kumpulan Wang Simpanan PekerjaLaporan Tahunan 2011 Annual Report

aHlI lEMBaGaMEMBERSOFTHEBOARD

PUAN LOK YIM PHENGCIK CHIN YUNG CHIEW @ REBECCATAN SRI AZLAN ZAINOLENCIK MOHD KHALID BIN ATANDATUK ABDUL HAMED BIN HAJI SEPAWI

BERDIRIDARIKIRI/STAnDInGFROMLEFTDUDUKDARIKIRI/SITTInGFROMLEFT

TAN SRI SAMSUDIN BIN OSMANTAN SRI ABU BAKAR BIN HAJI ABDULLAH TAN SRI DATUK SERI LEE LAM THYE



BERDIRIDARIKIRI/STAnDInGFROMLEFT TIADADALAMGAMBAR/nOTInTHEPICTURE

DATUK AMAR HAJI MOHAMAD MORSHIDI BIN ABDUL GHANIDATO’ AZMAN SHAH BIN HARONENCIK HALIM BIN HAJI DINENCIK HENG HOCK CHENG @ HENG HEYOK CHIANGDATO’ SERI ZAINAL RAHIM BIN SEMANTAN SRI DATUK (DR.) MUSTAFA BIN MANSUR

DATO’ DR. MOHD IRWAN SERIGAR BIN ABDULLAH DATUK SERI PANGLIMA HAJI SUKARTI BIN WAKIMANDATUK MOHD HASNOL BIN AYUB


AHLI LEMBAGAmemBeRs oF tHe BoaRD

Tan Sri Samsudin bin Osman telah dilantik sebagaiPengerusiLembagabermulapada1Februari2007selamadua tahun sehingga 31 Januari 2009. Beliau dilantiksemula pada 1 Februari 2009 sehingga 31 Januari 2011.Seterusnya beliau dilantik untuk penggal ketiga pada1Februari2011sehingga31Januari2012.

Sebelum ini beliau pernah berkhidmat sebagai KetuaSetiausahanegara,KetuaPengarahJabatanPerkhidmatanAwam,KetuaSetiausahaKementerianDalamnegeri,KetuaSetiausahaKementerianPerdaganganDalamnegeridanHalEhwalPengguna,SetiausahaPersekutuannegeriSabahdanTimbalanKetuaSetiausahaKementerianPengangkutan.

PadamasainibeliaumemegangjawatansebagaiPresidenPerbadanan Putrajaya, Pengerusi BIMB Holdings Bhd,Pengerusi Lembaga Pengarah Universiti Utara Malaysia(UUM)dan juga salah seorangdaripadaPengarahdi SimeDarbyBhd.BeliaujugatelahdilantikmenjadiProCanselorUniversitiMalaysiaTerengganu(UMT)danPengerusiKwasaLand Sdn Bhd. Beliau memperolehi Sarjana PentadbiranAwam daripada Pennsylvania State University, AmerikaSyarikat.

Tan Sri Samsudin bin Osman was appointed as theChairman of the Board on 1 February 2007 for a two-year term until 31 January 2009. He was reappointed on1 February 2009 until 31 January 2011. Subsequently hewas reappointed for a third termon 1February 2011until31January2012.

Prior to this, he served as the Chief Secretary to theGovernment, Director General of the Public ServiceDepartment, Secretary General in the Ministry of HomeAffairs,SecretaryGeneralintheMinistryofDomesticTradeand Consumer Affairs, Federal Secretary of Sabah andDeputySecretaryGeneralintheMinistryofTransport.

Currently, he also serves as the President of PutrajayaCorporation,ChairmanofBIMBHoldingsBhd,Chairmanofthe Board of Directors of Universiti UtaraMalaysia (UUM)and as one of the Directors at Sime Darby Bhd. He wasalsoappointedastheProChancellorofUniversitiMalaysiaTerengganu (UMT)andChairmanofKwasaLandSdnBhd.He holds a Masters Degree in Public Administration fromPennsylvaniaStateUniversity,USA.

TAN SRI SAMSUDIN BIN OSMANPengerusi lembaga/Chairman of the Board

PMN, PSM, SSaP, SPMS, SJMK, SIMP, SPMP, SPDK, DPMS, DHMS, PGDK, DPMJ, JSM, PMP, DGSM, aMN, SMW

([email protected])




Dato’ Dr. Mohd Irwan Serigar bin Abdullah telah dilantiksebagai Ahli Lembaga wakil Kerajaan dan Ahli PanelPelaburan bermula 1 Januari 2011. Beliau memilikiIjazah Kedoktoran (Ekonomi) daripada Universiti IslamAntarabangsa Malaysia (UIAM). Beliau telah menghadiriAdvancedManagementProgramdiHarvardBusinessSchoolpadatahun2008.

Beliau memulakan kerjaya sebagai Penolong Pengarah diUnit Perancang Ekonomi, Jabatan Perdana Menteri padatahun1984.Beliaupernah terlibat secara langsungdalampersediaan bagi RancanganMalaysia Kelima (RMK-5) danbeberapa aktiviti lain di Jabatan Perdana Menteri. Padatahun2003,beliautelahbertukarkeKementerianKewangandan ditugaskan di Bahagian Ekonomi dan Antarabangsa.Beliautelahdiberikepercayaanuntukmengetuaibeberapabahagian di Kementerian Kewangan. Kini beliau adalahTimbalan Ketua Setiausaha Perbendaharaan (Dasar) diKementerianKewangan.

Selain berpengalaman luas dalam bidang pentadbiranKerajaan, beliau juga merupakan salah seorang AhliLembagabagibeberapasyarikatdanbadanKerajaansepertiTabungHaji,SuruhanjayaKoperasiMalaysia,UniversitiIslamAntarabangsaMalaysia (UIAM),SuruhanjayaPengangkutanAwamDaratsertaPengerusibagiAhliJawatankuasaRasmi,ASEAnInfrastructureFund.BeliaujugaadalahAhliLembagaKumpulanWangAmanahnegara(KWAn),KumpulanWangAmanah Persaraan (Diperbadankan) (KWAP), SuruhanjayaSekuriti (SC) dan juga Ahli Lembaga Pemegang AmanahYayasan Inovasi Malaysia (YIM). Beliau juga telah dilantiksebagaiPengerusiMalaysianDevelopmentHoldingSdnBhd(MDHSB).

Dato’ Dr. Mohd Irwan Serigar bin Abdullah was appointedas a Board Member representing the Government and aMemberof the InvestmentPaneleffective1 January2011.He holds a Doctorate in Economics from the InternationalIslamic University Malaysia (IIUM). He also attended theAdvanced Management Programme at Harvard BusinessSchoolin2008.

He started his career as an Assistant Director in theEconomicPlanningUnitofthePrimeMinister’sDepartmentin 1984.Hewas directly involved in the preparation of theFifthMalaysiaPlan(5MP)andseveralotheractivitiesinthePrimeMinister’sDepartment.In2003hewastransferredtotheMinistryofFinanceandwasassignedtotheEconomicsand International Division. Hewas entrustedwith headingseveral divisions in theMinistry of Finance.He is now theDeputySecretaryGeneralofTreasury(Policy)intheMinistryofFinance.

Aside from having wide experience in Governmentadministration, he is also a Board Member of severalcompaniesandGovernmentbodiessuchasLembagaTabungHaji,theCooperativeCommissionofMalaysia,InternationalIslamicUniversityMalaysia(IIUM),theLandPublicTransportCommission aswell as being the Chairman of the OfficialCommitteeof theASEAn InfrastructureFund.He isalsoaBoardmemberofKumpulanWangAmanahnegara(KWAn),KumpulanWang Amanah Persaraan (Incoporated) (KWAP)and theSecuritiesCommission (SC), aswell asaMemberof theBoardofTrusteesofYayasan InovasiMalaysia (YIM).He was also appointed as the Chairman of the MalaysianDevelopmentHoldingSdnBhd(MDHSB).

DATO’ DR. MOHD IRWAN SERIGAR BIN ABDULLAH Timbalan Ketua Setiausaha Perbendaharaan (Dasar), Kementerian Kewangan (Timbalan Pengerusi – Wakil Kerajaan)/Deputy secretary General of treasury (Policy), ministry of Finance (Deputy Chairman – Government Representative)

DPSK, DIMP, SaP

([email protected])



TanSriAbuBakarbinHajiAbdullah telahdilantik sebagaiAhli Lembaga wakil Kerajaan pada 1 Julai 2010. Beliaumemiliki IjazahSarjana(PengajianAntarabangsa)daripadaUniversityofDenver,Colorado,AmerikaSyarikat.

Beliau adalah seorang pentadbir yang mempunyaipengalaman luas di dalam beberapa kementerian.Beliau memulakan kerjaya di Kementerian Perdagangandan Perindustrian selama lapan tahun sebelum beliaumelanjutkan pelajaran ke peringkat Ijazah Sarjana diAmerikaSyarikat.Setelahkembaliketanahair,beliautelahberkhidmatdiKementerianPertahananMalaysiaselama13tahun dengan memegang jawatan terakhir sebagai KetuaPenolong Setiausaha Bahagian Pembangunan. Seterusnyabeliau telah ditukarkan ke Jabatan Perdana Menteri danKementerianWilayahPersekutuan.Beliaudilantik sebagaiKetua Setiausaha Kementerian Pertahanan pada 17 Julai2007sebelumdilantiksebagaiKetuaPengarahPerkhidmatanAwampada1Julai2010.

Tan Sri Abu Bakar bin Haji Abdullah was appointed as aBoardMemberrepresentingtheGovernmenton1July2010.HeholdsaMastersDegree(InternationalStudies)fromtheUniversityofDenver,Colorado,USA.

He is an administrator with vast experience as he hasserved in severalministries.Hebeganhis careerwith theMinistryofTradeandIndustriesandwaswiththisministryforeightyearsbeforemovingontopursueaMastersDegreein the USA. Upon returning to Malaysia, he served in theMalaysianMinistryofDefencefor13yearswithhislastpostintheministrybeingthatofChiefAssistantSecretaryoftheDevelopmentDivision.Subsequently,hewastransferredtothe Prime Minister’s Department and Ministry of FederalTerritories.HewasappointedastheSecretaryGeneraloftheMinistryofDefenceon17July2007beforebeingappointedastheDirectorGeneralofPublicServiceon1July2010.

TAN SRI ABU BAKAR BIN HAJI ABDULLAH Ketua Pengarah, Perkhidmatan awam Malaysia (Wakil Kerajaan)/Director General of Public service malaysia (Government Representative)

PSM,SSaP, SIMP, DSDK, DIMP, KMN, aMN

([email protected])




Dato’SeriZainalRahimtelahdilantiksebagaiAhliLembagawakilKerajaan pada 1 Jun 2011.BeliaumerupakanKetuaSetiausahaKementerianSumberManusia.

BeliaupernahberkhidmatsebagaiPengarahPembangunannegeri Pulau Pinang, Unit Penyelarasan Pelaksanaan,JabatanPerdanaMenteri,YangDiPertuaMajlisPerbandaranPulauPinangdanSetiausahaKerajaannegeriPulauPinang.BeliaumemilikiIjazahSarjanaPentadbiranAwamdaripadaSyracuseUniversity,AmerikaSyarikat.

Dato’SeriZainalRahimwasappointedasaBoardMemberrepresentingtheGovernmenton1June2011.HeservesasSecretaryGeneraloftheMinistryofHumanResources.

He had served as the Director of the Penang StateDevelopment, Implementation Coordination Unit in thePrime Minister’s Department, President of the MunicipalCouncilofPenang,andStateSecretaryofPenang.HeholdsaMastersinPublicManagementfromSyracuseUniversity,USA.

DatukAmarHajiMohamadMorshidibinAbdulGhanidilantikmenjadi Ahli Lembaga wakil Kerajaan pada 2 Ogos 2009.Beliau berkelulusan Sarjana dalam bidang PengurusanSumber Manusia daripada University of Scranton,Pennsylvania,AmerikaSyarikat.BeliaujugapemegangIjazahSarjana Muda (Pengurusan Statistik) daripada UniversitiKebangsaanMalaysia (UKM),dan telahmenghadiri kursusSeniorExecutiveFellowsdiHarvardUniversity,USA.

Beliau adalah seorang yang berpengalaman luas dalambidang pentadbiran dan korporat. Antara syarikat yangpernah mendapat khidmat beliau termasuklah Petronas,DewanBandarayaKuchingUtara,UnitPengurusanSumberManusia, dan Unit Pembangunan Sumber Manusia danKualiti di Jabatan Ketua Menteri Sarawak. Beliau jugapernahberkhidmatsebagaiSetiausahaTetapKementerianPembangunan Sosial dan Urbanisasi, Pengarah UnitPerancang negeri di Jabatan Ketua Menteri Sarawak,Timbalan Setiausaha Kerajaan negeri (Perancangan &Pembangunan) dan Timbalan Setiausaha Kerajaan negeri(Pentadbiran, Keselamatan dan Hal Ehwal Korporat). KinibeliauadalahSetiausahaKerajaannegeriSarawak.

Selain daripada itu beliau sekarang memegang jawatanPengerusi danAhli Lembaga di beberapa agensi Kerajaanlain seperti Perbadanan Pembangunan Ekonomi Sarawak(SEDC), Institut Pembangunan Sarawak (SDI), FaradaleDevelopment, UnIMAS, Majlis Islam Sarawak, LembagaKemajuanBintulu(BDA),SwinburneUniversityofTechnologySdn Bhd Sarawak Information Systems Sdn Bhd (SAInS),ASSAR Asset Sdn Bhd, Sarawak Forestry Corporation(SFC),SarawakEnergyBhd(SEB),SyarikatSESCOBhddanRECODA.

DATO’ SERI ZAINAL RAHIM BIN SEMANKetua Setiausaha, Kementerian Sumber Manusia (Wakil Kerajaan)/secretary General, ministry of Human Resource (Government Representative)

(dari/from 1.6.2011)

PKT, PKC, BCN, DMSM, DSPN, DMPN, DGPN

([email protected])

DATUK AMAR HAJI MOHAMAD MORSHIDI BIN ABDUL GHANISetiausaha Kerajaan Negeri Sarawak (Wakil Kerajaan)/state secretary of sarawak (Government Representative)

Da, PGBK, JSM, PPC, PPB

([email protected])



DatukHajiSukartibinWakiman ialahSetiausahaKerajaannegeri Sabah yang telah dilantik sebagai wakil KerajaandalamLembagabermula1Jun2001.

Beliauberkelulusan IjazahSarjanaMuda (Kepujian)dalambidangAntropologidanSosiologidaripadaUniversitiMalaya(UM),KualaLumpur.

Datuk Haji Sukarti bin Wakiman is the State Secretary ofSabah who was appointed to the Board as a Governmentrepresentativebeginning1June2001.

He holds a Bachelor’s Degree (Hons) in Anthropologyand Sociology from the University of Malaya (UM), KualaLumpur.

Datuk Amar Haji MohamadMorshidi bin Abdul Ghani wasappointed to the Board as a Government representativeon 2 August 2009. He holds a Masters Degree in HumanResource Management from the University of Scranton,Pennsylvania, USA. He also holds a Bachelor Degreein Economics (majoring in Statistics) from UniversitiKebangsaan Malaysia (UKM), and attended the SeniorExecutiveFellowscourseatHarvardUniversityintheUSA.

HehaswideexperienceintheadministrativeandcorporatefieldsservingorganisationssuchasPetronas,KuchingUtaraCityHallaswellastheHumanResourceManagementUnitand the Human Resource Development and Quality Unitin the Sarawak Chief Minister’s Department. He has alsoservedasthePermanentSecretarytotheMinistryofSocialDevelopmentandUrbanisation,DirectoroftheStatePlanningUnit in the Sarawak Chief Minister’s Department, DeputyStateSecretary(Planning&Development)andDeputyStateSecretary (Administration, Security and Corporate Affairs).HeispresentlytheStateSecretaryofSarawak.

Asidefromthesepositions,healsoservesasChairmanandBoard Member in several governmental agencies such asthe Sarawak Economic Development Corporation (SEDC),SarawakDevelopmentInstitute(SDI),FaradaleDevelopment,UnIMAS, Sarawak Islamic Council, Bintulu DevelopmentAuthority (BDA), Swinburne University of TechnologySdn Bhd, Sarawak Information System Sdn Bhd (SAInS),ASSAR Asset Sdn Bhd, Sarawak Forestry Corporation(SFC),SarawakEnergyBhd(SEB),SyarikatSESCOBhdandRECODA.

DATUK SERI PANGLIMA HAJI SUKARTI BIN WAKIMAN Setiausaha Kerajaan Negeri Sabah (Wakil Kerajaan)/state secretary of sabah (Government Representative)

PGDK, JSM, SPDK

([email protected])




Dato’ Azman Shah bin Haron merupakan PresidenPersekutuanMajikan-MajikanMalaysia (MEF).BeliautelahdilantikmenjadiAhliLembagamewakiliMajikanpada1Jun2007.

BeliauberkelulusanDiplomainGeneralHotelManagementdaripada Holiday Inn University, Amerika Syarikat. BeliaujugamenjadiAhliLembagadalampelbagaisyarikatdidalamdanluarnegaraantaranyaAlangka-SukaInternationalLtd,HolidayVillaParis,HolidayVilla(UK)Ltd,LarkswoodAssetsLtd,GrandHotelSudanLtd,AntaraHolidayVillaSdnBhd,MayorHotelsBhddanAceSynergyInsurance.

Selain itu, beliau juga merupakan Pengerusi ConsultativePanel for Hospitality Industry di Perbadanan ProduktivitiMalaysia (MPC); Ahli LembagaMPC; Ahli Lembaga dalamLembagaKemajuanPerindustrianMalaysia(MIDA);AhliSilihGanti Asia Pacific Economic Corporation (APEC)/BusinessAdvisory Council (ABAC) Malaysia; Bendahari bagi RumahBaktiDato’HarunIdris,UluKelang,Selangor;AhliPEMUDAHMalaysia(PasukanPetugasKhasPemudahcaraPerniagaan)dan juga Pengerusi Bersama Working Group EfficiencyIssues(WGEI).BeliaujugamerupakanPresidenDilantikbagiInternationalOrganisationofEmployers(IOE)danPengerusiConfederationofAsiaPacificEmployers(CAPE).

Dato’AzmanShahbinHaronisthePresidentoftheMalaysianEmployersFederation(MEF).HewasappointedasaBoardMemberrepresentingEmployerson1June2007.

He holds a Diploma in General Hotel Management fromHolidayInnUniversity,USA.HeisalsoaBoardMemberforvariouslocalandinternationalcompaniesincludingAlangka-SukaInternationalLtd,HolidayVillaParis,HolidayVilla(UK)Ltd,LarkswoodAssetsLtd,GrandHotelSudanLtd,AntaraHoliday Villa SdnBhd,MayorHotelsBhd andAceSynergyInsurance.

Apartfromthis,heisalsotheChairmanoftheConsultativePanelfortheHospitalityIndustryattheMalaysiaProductivityCorporation (MPC); a Board Member of the MPC and theMalaysian Industrial Development Authority (MIDA); anAlternateMemberoftheAsiaPacificEconomicCorporation(APEC)/Business Advisory Council (ABAC) Malaysia;Treasurer for Rumah Bakti Dato’ Harun Idris, Ulu Klang,Selangor;amemberofPEMUDAHMalaysia(ASpecialTasktoFacilitateBusiness);andCo-ChairmanoftheWorkingGroupEfficiencyIssues(WGEI).HeisalsothePresident-ElectoftheInternationalOrganisationofEmployers(IOE)andChairmanoftheConfederationofAsiaPacificEmployers(CAPE).

DATO’ AZMAN SHAH BIN HARON Presiden, Persekutuan Majikan-Majikan Malaysia (MEF)/(Wakil Majikan)/President, malaysian employers Federation (meF)/(employers Representative)

PJK, aMS, SSa, DPTJ

([email protected])



Tan Sri Datuk (Dr.) Mustafa bin Mansur ialah PresidenPersekutuan Pekilang-Pekilang Malaysia (FMM). BeliautelahdilantikmenjadiAhliLembagasebagaiwakilMajikanpada1Jun2009.SebeluminibeliaupernahdilantikmenjadiAhliLembagapada1Jun2003hingga31Mei2005.

Beliau yang berkelulusan Sarjana Muda SainsKemasyarakatan(Kepujian)SainsPolitikdaripadaUniversitiSains Malaysia (USM), Pulau Pinang, pernah berkhidmatsebagaiPengurusKananDunlopMalaysian IndustriesBhddan menjawat jawatan sebagai Pengarah Urusan H&RJohnson (M) Bhd, Pengerusi Kumpulan Manewtech BelleSdn Bhd, Pengerusi Orapi Applied Chemicals (M) SdnBhd, Pengerusi Woleco (M) Sdn Bhd dan juga PengerusinottinghamMyRiadSdnBhd.

Beliau juga adalah Ahli Lembaga Kemajuan PerindustrianMalaysia (MIDA), Perbadanan Produktiviti Malaysia (MPC),UniversitiSainsMalaysia(USM),PerbadananPembangunanPerdaganganLuarMalaysia(MATRADE),AhliMajlisInovasinegara(MIn)danAhliMajlisPerundinganGajinegara.

TanSriDatuk (Dr.)MustafabinMansur is thePresidentoftheFederationofMalaysianManufacturers (FMM).HewasappointedasaBoardMemberrepresentingEmployerson1June2009.Priortothis,hewasappointedasaBoardMemberfrom1June2003to31May2005.

Holding a Bachelors Degree (Hons) in Social SciencemajoringinPoliticalSciencefromUniversitiSainsMalaysia(USM), Penang he served as a Senior Manager at DunlopMalaysianIndustriesBhdandwastheManagingDirectorofH&RJohnson (M)Bhd,ChairmanofKumpulanManewtechBelleSdnBhd,ChairmanofOrapiAppliedChemicals(M)SdnBhd,ChairmanofWoleco(M)SdnBhd,andalsoChairmanofnottinghamMyRiadSdnBhd.

He is also a Board Member of the Malaysian IndustrialDevelopment Authority (MIDA), Malaysian ProductivityCorporation(MPC),UniversitiSainsMalaysia(USM),MalaysianExternal Trade Development Corporation (MATRADE), andaCouncilMemberofthenationalInnovationCouncilandaMemberofthenationalWagesConsultativeCouncil.

TAN SRI DATUK (DR.) MUSTAFA BIN MANSURPresiden, Persekutuan Pekilang-Pekilang Malaysia/ (Wakil Majikan)/President, Federation of malaysian manufacturers (Fmm) (employers Representative)

PSM, PJN, Grand Officiale of the Order of the Italian Star of Solidarity, DSNS, DSN, PMC

([email protected])



DATUK ABDUL HAMED BIN HAJI SEPAWIPengerusi Eksekutif, Ta ann Holdings (Wakil Majikan)/executive Chairman, ta ann Holdings (employers Representative)


PGBK

DatukAbdulHamedbinHajiSepawi telahdilantik sebagaiAhli Lembaga wakil Majikan pada 1 Jun 2011. Beliauberkelulusan Sarjana Muda Sains daripada UniversitiMalaya, Sarjana Muda Sains (Perhutanan) dari AustralianationalUniversitydanSarjanadalamPenggunaanSumberHutan dari Oregon State University, Amerika Syarikat.Mempunyai pengalaman lebih daripada 23 tahun dalampengurusanperhutanandanpembuatanprodukhutandanselama16tahunberkecimpungdalamindustripembinaan,pembangunan hartanah, minyak dan gas, perladangankelapa sawit serta teknologi maklumat. Selain dari itubeliau jugamerupakanpenerimaAnugerahSarawakStateEntreprenueroftheYearAward2004dan2005.Beliaujugapernah dicalonkan untukAnugerahMalaysia EntreprenueroftheYearAward2005.

BeliauadalahPengerusiEksekutifTaAnnHoldingsBerhad.Selain itu, beliau jugamenjawat jawatan Pengerusi untuknaimHoldingsBerhaddanSarawakPlantationBerhadiaitusyarikatyangdisenaraikandiPapanUtamaBursaMalaysia;serta Pengerusi bagi Smartag Solutions Berhad yangdisenaraikan di Pasaran ACE Bursa Malaysia. Beliau jugaadalahPengerusibagiSarawakEnergyBerhad.

Datuk AbdulHamed binHaji Sepawiwas appointed to theboard as an Employers Representative on 1 June 2011. Aholder of a Bachelor of Science degree fromUniversity ofMalaya, Bachelor of Science (Forestry) Australia nationalUniversity and a Master`s Degree in Forest ProductsUtilisationfromOregonStateUniversity,USA.Hehasmorethan23yearsofexperience in forestmanagementandthemanufacturing of forest products. For the last 16 years,hehasbeenactively involved in various industriessuchasconstruction, property development, oil and gas, oil palmplantations and ICT. He was the recipient of the SarawakStateEntrepreneuroftheYearAwardfor2004and2005andwas nominated for the Malaysia Entrepreneur of the YearAward2005.

He is the Executive Chairman of Ta AnnHoldingsBerhad.Apart from that, he also serves as the Chairman of naimHoldingsBerhadandSarawakPlantationBerhad,companiesthatarelistedontheMainBoardofBursaMalaysia;aswellastheChairmanofSmartagSolutionBerhadwhichislistedontheACEMarketofBursaMalaysia.HeisalsotheChairmanofSarawakEnergyBerhad.

DATUK MOHD HASNOL BIN AYUB Yang Dipertua Dewan Perniagaan Bumiputera Sabah (DPBS) (Wakil Majikan)/President of sabah Bumiputera Chamber of Commerce (sBCC) (employers Representative)

([email protected])

Datuk Mohd Hasnol bin Ayub telah dilantik sebagai wakilMajikandalamLembagapada1Jun2009.

Selain bertugas sebagai Pengarah Eksekutif merangkapKetua Pegawai Eksekutif di Institut Kajian PembangunanSabah (IDS), beliau juga adalah Yang Dipertua DewanPerniagaanBumiputeraSabah(DPBS).

Beliau berkelulusan Sarjana dalam bidang PengurusanPerniagaan daripada University of Wales Cardiff, UnitedKingdom.

Datuk Mohd Hasnol bin Ayub was appointed as a BoardMemberrepresentingEmployerson1June2009.

Apart from his responsibility as Executive Director/ChiefExecutive Officer of the Institute for Development StudiesSabah(IDS),heisalsothePresidentoftheSabahBumiputeraChamberofCommerce(SBCC).

HeholdsaMastersDegreeinBusinessAdministrationfromtheUniversityofWalesCardiffintheUnitedKingdom.




PUAN LOK YIM PHENGSetiausaha agung, Kongres Kesatuan Pekerja-pekerja Di Dalam Perkhidmatan awam (CuEPaCS) (Wakil Pekerja)/secretary General, Congress of Unions of employees in the Public & Civil services (CUePaCs) (employees Representative)


KMN, aMP, PJK

([email protected])

Puan Lok Yim Pheng dilantik sebagai Ahli Lembaga pada1 Jun 2011 menggantikan Encik Ahmad Shah Mohd Zinsebagai wakil pekerja. Beliau juga Setiausaha AgungKesatuan Perkhidmatan Perguruan Kebangsaan (nUTP)danSetiausahaAgungKongresKesatuanPekerja-pekerjadidalamPerkhidmatanAwam(CUEPACS).Beliauberkelulusanijazah Pengurusan dan pernah berkhidmat sebagai GuruPenolong Kanan dan Guru Besar sebelum memegangjawatan Pegawai Pinjaman Jabatan Perkhidmatan Awampadamasakini.BeliaudilantiksebagaiAhliMajlisnegarabagi Keselamatan dan Kesihatan Pekerjaan dan dipilihsebagai Ahli Lembaga dalam Education Internationalperingkatdunia.

MadamLokYimPhengwasappointedasaBoardMemberon1June2011,replacingEncikAhmadShahMohdZin.SheisalsotheincumbentSecretaryGeneralofthenationalUnionoftheTeachingProfession(nUTP)andtheSecretaryGeneralof theCongress ofUnions of Employees in thePublic andCivilServices(CUEPACS).HoldingaDegreeinManagement,sheservedasaSeniorAssistantTeacherandHeadmistressbeforehercurrentroleasaSecondedOfficer inthePublicServices Department. She was appointed as aMember ofthenationalCouncilForOccupationalSafetyandHealthandelectedastheBoardMemberofEducationInternationalattheworldlevel.

ENCIK MOHD KHALID BIN ATANPresiden, Kongres Kesatuan Sekerja Malaysia (MTuC) (Wakil Pekerja)/President, malaysian trades Union Congress (mtUC) (employees Representative)


([email protected])

Encik Mohd Khalid bin Atan mula menjadi Ahli LembagaKWSP pada 1 Jun 2011. Beliau menggantikan Tuan SyedShahir bin Syed Mohamud sebagai Ahli Lembaga WakilPekerja. Beliau merupakan Presiden Kongres KesatuanSekerjaMalaysia (MTUC) untuk tempoh 2010hingga 2013.Sebelum dilantik sebagai Presiden, beliau memegangjawatan Timbalan Presiden di MTUC. SelainMTUC, beliaujuga memegang jawatan Setiausaha Agung KesatuanPekerja-PekerjaPerkayuanSemenanjungMalaysia.

EncikMohdKhalidbinAtanreplacesTuanSyedShahirbinSyedMohamudasaBoardMemberrepresentingEmployees.Thenewly-electedMalaysianTradeUnionCongress(MTUC)PresidentwillhelmtheMTUCoverthe2010to2013period.Prior toholdingthisposition,hewastheDeputyPresidentof MTUC. He is also the current Secretary General of theTimberEmployeesUnion.




TAN SRI DATUK SERI LEE LAM THYEPengerusi Institut Keselamatan & Kesihatan Pekerjaan Negara (Wakil Profesional)/ Chairman national institute of occupational safety and Health (niosH) (Professionals Representative)

PSM, SMW, DPMS, DPMP, JMN, JP

([email protected]/[email protected])

Tan Sri Datuk Seri Lee Lam Thye telah dilantik sebagaiAhliLembagawakilProfesionalbermulapada1Jun2009.Beliauadalahseorangaktivismasyarakatyangdisegani.KinibeliauadalahPengerusi InstitutKeselamatan&KesihatanPekerjaan negara (nIOSH), Malaysia dan naib PengerusiYayasan Pencegahan Jenayah Malaysia. Beliau jugaPengerusiYayasanS.P.Setia.

TanSriDatukSeriLeeLamThyewasappointedasaBoardMember representingProfessionals on 1 June 2009.He isarenownedsocialactivist.Hepresentlyalsoservesas theChairmanofthenationalInstituteofOccupationalSafetyandHealth(nIOSH),MalaysiaandVice-ChairmanoftheMalaysiaCrimePreventionFoundation.HeisalsotheChairmanofS.P.SetiaFoundation.

CIK CHIN YUNG CHIEW @ REBECCAahli, Kesatuan Pekerja-Pekerja Komersil Sabah (Wakil Pekerja)/member, sabah Commercial employees’ Union (employees Representative)

([email protected])

CikChinYungChiew@RebeccatelahdilantikmenjadiAhliLembaga sebagai wakil Pekerja pada 1 Jun 2007. BeliauadalahmantanSetiausahaAgungKesatuanPekerja-PekerjaKomersilSabahdariSeptember1996sehingga30September2011.Semasamenerajui jawatanSetiausahaAgung,beliaumenganggotai Suruhanjaya Siasatan (COI) bagi PekerjaSektorPerkhidmatanSabahdari2003-2005.BeliauadalahAhli Panel Majlis Penetapan Gaji bagi Pembantu KlinikSwastaSabahdari1Ogos2006sehingga20September2009.Beliau berkhidmat dengan F&nBeveragesMarketing SdnBhdsejakJun1983.

Ms.ChinYungChiew@RebeccawasappointedasaBoardMemberrepresentingEmployeeson1June2007.Shewasthe former Secretary General of the Sabah CommercialEmployees’ Union from September 1996 to 30 September2011. During her tenure as Secretary General, she was aMemberoftheCommissionofInquiry(COI)forWorkersintheServiceSector,Sabahfrom2003-2005.ShewasaPanelistoftheWagesCouncil forPrivateClinicAssistant,Sabah from1August2006to20September2009.ShehasbeenservingF&nBeveragesMarketingSdnBhdsinceJune1983.



EncikHengHockCheng dilantik sebagaiwakil profesionaldalam Lembaga KWSP pada 1 Jun 2011 menggantikanDatuk Dr Hussein bin Awang. Beliau berkelulusan IjazahKejuruteraanKimiadaripadaUniversityofBirminghamdanberpengalamanselama34tahundalamindustriminyakdangas. Beliau pernah berkhidmat dengan syarikat-syarikatShelldiMalaysia,ChinadanBelandadanpernahmemegangjawatanPengarahUrusanShellGasandPowerMalaysiadanPengerusiShellChinayangberpejabatdiBeijing.

SelepasbersaradariShellpada2006,beliaudilantiksebagaiPenasihatSyarikatDialogGroupBhd.danPengarahBebasAET Tankers Holdings Sdn Bhd – subsidiari 100 peratusMalaysianInternationalShippingCorporation(MISC).BeliauturutberkhidmatdenganmemegangjawatanyangsamadiMalaysiaMarineandHeavyEngineeringHoldingsBhdsertaOttoMarineLimited,Singapura.

EncikHengHockChengwas appointed as aProfessionalsRepresentativeontheEPFBoardofDirectorson1June2011replacingDatukDrHusseinbinAwang.HeholdsaChemicalEngineeringDegreefromtheUniversityofBirminghamandhas 34 years of experience in the oil and gas industry.HehasservedwithvariousShellentitiesinMalaysia,ChinaandHolland,andwasonce theManagingDirectorofShellGasandPowerMalaysiaandalso theChairmanofShellChinabasedinBeijing.

After his retirement fromShell in 2006, hewas appointedasanAdvisor toDialogGroupBerhadandan IndependentDirector inAETTankersHoldingsSdnBhd–a100percentsubsidiary ofMalaysian International ShippingCorporation(MISC).HeisalsoservinginthesamecapacityatMalaysiaMarineandHeavyEngineeringHoldingsBhdaswellasOttoMarineLimitedinSingapore.

ENCIK HENG HOCK CHENG @ HENG HEYOK CHIANG(Wakil Profesional)/(Professionals Representative)



Encik Halim bin Haji Din merupakan seorang AkauntanBerkanun yang telah berkhidmat lebih 30 tahun denganbeberapa perbadanan multinasional dan firma perundingantarabangsa. Beliau mempunyai pengalaman 18 tahundalamindustriminyakdangasdimanabeliautelahdilantiksebagaiAhli LembagaCaltex/Chevronselamaenam tahundan bertanggungjawab untuk pengurusan kewangansebelummelibatkandirididalamperniagaanperundingan.Beliaumemegang jawatan sebagai Penasihat Rantau AsiauntukCaltexPetroleumCorporationDallas,TexasdimanabeliaumenyeliapelaburandikalangananaksyarikatdiAsiasebelumdilantiksebagaiAhliLembagaCaltexMalaysia.

Beliau juga mempunyai pengalaman luas dalam bidangpemulihan korporat ketika beliau bekerja dengan Ernst&Whinneydi London,UnitedKingdomdalam tahun1980-an.BeliaudilantiksebagaiRakanPengurusandiBahagianPerundingan Ernst & Young Malaysia pada tahun 1995.BeliaukemudianmenjadiPenasihatnegeribagiCapGeminiErnst&YoungConsultingapabilaCapGeminidariPerancisbergabung dengan Ernst & Young Consulting. Pada 2003,beliaubersamaduarakankongsimengambilalihperniagaanCapGeminiErnst&YoungMalaysiamelaluiManagementBuyOut (MBO)danditukarnamakepada InnovationAssociatesdankinidinamakanTheIAGroupyangmanabeliausekarangadalahPengerusiKumpulan.

Beliau juga adalah Ahli Lembaga Bebas bagi Wah SeongCorporation Bhd, KrisAssets Holdings Bhd, Takaful IkhlasSdnBhd,FeldaProdataSystemsSdnBhddanBnPParibasMalaysiaBhd.

Encik Halim bin Haji Din is a Chartered Accountant whohas spent more than 30 years working for multinationalcorporationsand internationalconsultingfirms.Hehas18yearsofexperienceintheoilandgasindustry,sixyearsofthis asaBoardMemberofCaltex/Chevron responsible forfinancialmanagementbeforeheventuredintotheconsultingbusiness. Prior to his appointment as a BoardMember ofCaltexMalaysia,heservedasRegionalFinancialAdvisorforCaltexPetroleumCorporationDallas,TexasoverseeingtheinvestmentviabilityoftheCorporation’sAsiansubsidiaries.

He also had extensive experience in corporate recoverywhen he worked for Ernst & Whinney, London, UnitedKingdominthemid1980’s.HewasappointedasManagingPartneroftheConsultingDivisionofErnst&YoungMalaysiain1995.HelaterbecametheCountryAdvisorofCapGeminiErnst & Young Consulting Malaysia when Cap Gemini ofFrancemergedwithErnst&YoungConsulting. In2003,heand twopartners tookover theconsultingbusinessofCapGemini Ernst & Young Malaysia through a ManagementBuy Out (MBO) and rebranded it as Innovation Associates,currentlyknownasTheIAGroup,whereheiscurrentlytheChairmanoftheGroup.

He is also an independent member of the Board of WahSeong Corporation Bhd, KrisAssets Holdings Bhd, TakafulIkhlasSdnBhd,FeldaProdataSystemsSdnBhd.andBnPParibasMalaysiaBhd.


ENCIK HALIM BIN HAJI DINPengerusi, The Ia Group (Wakil Profesional)/Chairman, the ia Group (Professionals Representative)

([email protected])



Tan Sri Azlan Zainol dilantik menjadi Ketua PegawaiEksekutifdanAhliEx-OfficioLembagadanPanelPelaburanpada16April2001.BeliaujugaadalahPengerusiMalaysianResources Corporation Bhd (MRCB) dan RHB Bank Bhd,AhliLembagaPengarahRHBCapitalBhd,RHBInvestmentBank Bhd, Jardine Cycle & Carriage Ltd (Singapore),Timbalan Pengerusi Jawatankuasa Teknikal InternationalSocialSecurityAssociation(ISSA)danAhliLembagaASEAnSocialSecurityAssociation(ASSA).

SebelummenyertaiKWSP,beliauadalahPengarahUrusanAmBank Bhd dari 1994 hingga 2001, AmFinance Bhd dari1982 hingga 1994 dan pengarah beberapa anak syarikatKumpulan AmBank dari 1996 hingga 2001, serta rakankongsi Tetuan BDO Binder. Beliau adalah Fellow Instituteof Chartered Accountants (England & Wales) serta ahliMalaysianInstituteofAccountantsdanMalaysianInstituteofCertifiedPublicAccountants.

TanSriAzlanZainolwasappointedasChiefExecutiveOfficerand an Ex-Officio Member of the Board and InvestmentPanelon16April2001.HeisalsotheChairmanofMalaysianResources Corporation Bhd (MRCB) and RHB Bank Bhd,a Board Member of RHB Capital Bhd, RHB InvestmentBank Bhd, Jardine Cycle & Carriage Ltd (Singapore), ViceChairman of the Technical Committee of the InternationalSocial Security Association (ISSA) and aBoardMember oftheASEAnSocialSecurityAssociation(ASSA).

Prior to joining the EPF, hewas theManagingDirector ofAmBankBhdfrom1994to2001,AmFinanceBhdfrom1982to 1994, a director of several subsidiaries of the AmBankGroup from 1996 to 2001, as well as a partner of MessrsBDO Binder. He is a Fellow of the Institute of CharteredAccountants (England & Wales), as well as a member ofthe Malaysian Institute of Accountants and the MalaysianInstituteofCertifiedPublicAccountants.

TAN SRI AZLAN ZAINOLKetua Pegawai Eksekutif Kumpulan Wang Simpanan Pekerja/Chief executive officer employees Provident Fund

PSM, PJN, DPMS, DSaP, DMSM, PGBK

([email protected])



AHLI SILIH GANTI LEMBAGA WAKIL KERAJAANaLteRnate memBeRs oF tHe BoaRD GoVeRnment RePResentatiVes

SetiausahaBhg.PengurusanPinjamanPasaranKewanganAktuari/Secretary,LoanManagement,FinancialMarketandActuaryDivision

[email protected]

TimbalanKetuaPengarahPerkhidmatanAwam(Pembangunan)/DeputyDirectorGeneral,PublicServiceDepartment(Development)

[email protected]

TimbalanKetuaSetiausaha(Operasi),KementerianSumberManusia/DeputySecretaryGeneral(Operation),MinistryofHumanResources

[email protected]

TimbalanSetiausahaKerajaannegeriSarawak(SumberManusia)/DeputyStateSecretaryofSarawak(HumanResources)

[email protected]

Pengarah,JabatanPerkhidmatanAwamnegeriSabah/DirectorGeneral,StatePublicServiceDepartmentofSabah

[email protected]

ENCIK MALIAMI HAMAT(1.6.2011 – 31.5.2013)

Y. BHG. DATUK FARIDA MOHD ALI(1.6.2011 – 31.5.2013)

Y. BHG. DATO’ HAJI MOHD SHARIFF HUSSIN(1.6.2011 – 31.5.2013)

Y. BHG. DATU HAJI MISNU HAJI TAHA(1.12.2011 – 31.5.2013)

Y. BHG. DATUK HAJI NORDIN SIMAN(1.6.2011 – 31.5.2013)

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aHlI PaNEl PElaBuRaNMEMBERSOFTHEInVESTMEnTPAnEL

DARIKIRIKEKAnAn/FROMLEFTTORIGHT

DATO’SRIMOHAMEDnAZIRBInABDULRAZAK/DATUKnORSHAMSIAHBInTIMOHDYUnUSDATO’MOHAMMEDAZLAnBInHASHIM/TAnSRISAMSUDInBInOSMAn/EnCIKDAVIDLAUnAIPEK/TAnSRIAZLAnZAInOL/DATO’DR.MOHDIRWAnSERIGARBInABDULLAH



AHLI PANEL PELABURANmemBeRs oF tHe inVestment PaneL

TAN SRI SAMSUDIN BIN OSMANPengerusi Panel Pelaburan/ Chairman of the Investment Panel

PMN, PSM, SSaP, SPMS, SJMK, SIMP, SPMP, SPDK, DPMS, DHMS, PGDK, DPMJ, JSM, PMP, DGSM, aMN, SMW

([email protected])

Tan Sri Samsudin bin Osman telah dilantik sebagaiPengerusi Panel Pelaburan bermula pada 1 Februari2007 selama dua tahun sehingga 31 Januari 2009. Beliaudilantik semulapada1Februari 2009 sehingga31 Januari2011.Seterusnyabeliaudilantikuntukpenggalketigapada1Februari2011sehingga31Januari2012.

Sebelum ini beliau pernah berkhidmat sebagai KetuaSetiausahanegara,KetuaPengarahJabatanPerkhidmatanAwam,KetuaSetiausahaKementerianDalamnegeri,KetuaSetiausahaKementerianPerdaganganDalamnegeridanHalEhwalPengguna,SetiausahaPersekutuannegeriSabahdanTimbalanKetuaSetiausahaKementerianPengangkutan.

PadamasainibeliaumemegangjawatansebagaiPresidenPerbadanan Putrajaya, Pengerusi BIMB Holdings Bhd,Pengerusi Lembaga Pengarah Universiti Utara Malaysia(UUM)dan juga salah seorangdaripadaPengarahdi SimeDarbyBhd.BeliaujugatelahdilantikmenjadiProCanselorUniversitiMalaysiaTerengganu(UMT)danPengerusiKwasaLandSdnBhd.BeliaumemperolehiSarjanaPentadbiranAwamdaripadaPennsylvaniaStateUniversity,AmerikaSyarikat.

Tan Sri Samsudin bin Osman was appointed as theChairmanof the InvestmentBoardon1February 2007 foratwo-yeartermuntil31January2009.Hewasreappointedon1February2009until31January2011.Subsequentlyhewas reappointed for a third termon 1February 2011until31January2012.

Prior to this, he served as the Chief Secretary to theGovernment, Director General of the Public ServiceDepartment, Secretary General in the Ministry of HomeAffairs,SecretaryGeneralintheMinistryofDomesticTradeand Consumer Affairs, Federal Secretary of Sabah andDeputySecretaryGeneralintheMinistryofTransport.

Currently, he also serves as the President of PutrajayaCorporation,ChairmanofBIMBHoldingsBhd,Chairmanofthe Board of Directors of Universiti UtaraMalaysia (UUM)and as one of the Directors at Sime Darby Bhd. He wasalsoappointedastheProChancellorofUniversitiMalaysiaTerengganu (UMT)andChairmanofKwasaLandSdnBhd.He holds a Masters Degree in Public Administration fromPennsylvaniaStateUniversity,USA.



Dato’ Dr. Mohd Irwan Serigar bin Abdullah telah dilantiksebagai Ahli Lembaga wakil Kerajaan dan Ahli PanelPelaburan bermula 1 Januari 2011. Beliau memilikiIjazah Kedoktoran (Ekonomi) daripada Universiti IslamAntarabangsa Malaysia (UIAM). Beliau telah menghadiriAdvancedManagementProgramdiHarvardBusinessSchoolpadatahun2008.

Beliau memulakan kerjaya sebagai Penolong Pengarah diUnit Perancang Ekonomi, Jabatan Perdana Menteri padatahun1984.Beliaupernah terlibat secara langsungdalampersediaan bagi RancanganMalaysia Kelima (RMK-5) danbeberapa aktiviti lain di Jabatan Perdana Menteri. Padatahun2003,beliautelahbertukarkeKementerianKewangandan ditugaskan di Bahagian Ekonomi dan Antarabangsa.Beliautelahdiberikepercayaanuntukmengetuaibeberapabahagian di Kementerian Kewangan. Kini beliau adalahTimbalan Ketua Setiausaha Perbendaharaan (Dasar) diKementerianKewangan.

Selain berpengalaman luas dalam bidang pentadbiranKerajaan, beliau juga merupakan salah seorang AhliLembagabagibeberapasyarikatdanbadanKerajaansepertiTabungHaji,SuruhanjayaKoperasiMalaysia,UniversitiIslamAntarabangsaMalaysia (UIAM),SuruhanjayaPengangkutanAwamDaratsertaPengerusibagiAhliJawatankuasaRasmi,ASEAnInfrastructureFund.BeliaujugaadalahAhliLembagaKumpulanWangAmanahnegara(KWAn),KumpulanWangAmanah Persaraan (Diperbadankan) (KWAP), SuruhanjayaSekuriti (SC) dan juga Ahli Lembaga Pemegang AmanahYayasan Inovasi Malaysia (YIM). Beliau juga telah dilantiksebagaiPengerusiMalaysianDevelopmentHoldingSdnBhd(MDHSB).

DATO’ DR. MOHD IRWAN SERIGAR BIN ABDULLAH Timbalan Ketua Setiausaha Perbendaharaan (Dasar), Kementerian Kewangan (Timbalan Pengerusi – Wakil Kerajaan)/ Deputy Secretary General of Treasury (Policy), Ministry of Finance (Deputy Chairman – Government Representative)

DPSK, DIMP, SaP

([email protected])

Dato’ Dr. Mohd Irwan Serigar bin Abdullah was appointedas a Board Member representing the Government and aMemberof the InvestmentPaneleffective1 January2011.He holds a Doctorate in Economics from the InternationalIslamic University Malaysia (IIUM). He also attended theAdvanced Management Programme at Harvard BusinessSchoolin2008.

He started his career as an Assistant Director in theEconomicPlanningUnitofthePrimeMinister’sDepartmentin 1984.Hewas directly involved in the preparation of theFifthMalaysiaPlan(5MP)andseveralotheractivitiesinthePrimeMinister’sDepartment.In2003hewastransferredtotheMinistryofFinanceandwasassignedtotheEconomicsand International Division. Hewas entrustedwith headingseveral divisions in theMinistry of Finance.He is now theDeputySecretaryGeneralofTreasury(Policy)intheMinistryofFinance.

Aside from having wide experience in Governmentadministration, he is also a Board Member of severalcompaniesandGovernmentbodiessuchasLembagaTabungHaji,theCooperativeCommissionofMalaysia,InternationalIslamicUniversityMalaysia(IIUM),theLandPublicTransportCommission aswell as being the Chairman of the OfficialCommitteeof theASEAn InfrastructureFund.He isalsoaBoardmemberofKumpulanWangAmanahnegara(KWAn),KumpulanWang Amanah Persaraan (Incoporated) (KWAP)and theSecuritiesCommission (SC), aswell asaMemberof theBoardofTrusteesofYayasan InovasiMalaysia (YIM).He was also appointed as the Chairman of the MalaysianDevelopmentHoldingSdnBhd(MDHSB).



DATUK NOR SHAMSIAH BINTI MOHD YUNUSTimbalan Gabenor, Bank Negara Malaysia (Wakil Bank Negara Malaysia)/Deputy Governor, Bank Negara Malaysia (Representative of Bank Negara Malaysia)

PMK

([email protected])


DatuknorShamsiahbintiMohdYunustelahdilantiksebagaiAhliPanelPelaburanpada1Mac2008.BeliaumerupakansalahseorangTimbalanGabenordiBanknegaraMalaysia(BnM). Sebagai Timbalan Gabenor, beliau telah diberitanggungjawab mengawal selia bank perdagangan(konvensional dan Islam), bank pelaburan, syarikatinsurans(konvensionaldantakaful),institusipembangunankewangan dan Jabatan Pengurusan Risiko. Beliau jugabertanggungjawab menyelia fungsi-fungsi korporat danperkhidmatandiBnMtermasukJabatanPengurusanSumberManusiadanPusatPembangunanModalInsan.Disampingitu, beliau juga memantau unit-unit bertanggungjawabmembanteras/memerangikegiatanpenyalahgunaansistemkewangan.

Beliau adalah salah seorang Ahli Lembaga Pengarah diBnM.Beliau jugamerupakan salah seorang ahli di dalamJawatankuasa Dasar Monetari dan Jawatankuasa DasarKestabilanKewangandiBnM.Beliaujugamewakilibankdidalam beberapa forum serantau dan antarabangsa dalambidangpenyeliaanperbankan.

BeliaumenyertaiBnMpadaApril1987danberpengalamanluasdalampembentukanpengawalankehematan,undang-undang, dasardangaris panduanuntuk sektor kewangan.Beliau adalahpemegang IjazahSarjanaMudaPerakaunandaripadaUniversityofSouthAustraliadanjugamerupakanseorangAkauntanBertauliah.

Datuk nor Shamsiah binti Mohd Yunus was appointed asa member of the Investment Panel on 1 March 2008. Sheis currently the Deputy Governor of Bank negara Malaysia(BnM).AsDeputyGovernor,sheisresponsibleforthedivisionsthat supervise commercial banks (conventional and Islamicbanks),investmentbanks,insurancecompanies(conventionalandtakaful)anddevelopmentfinancialinstitutions.Shealsooversees theRiskManagementDepartmentandsupervisesBnM’scorporateandservicefunctions,includingtheHumanResourceManagementDepartment and theHumanCapitalDevelopmentCentre.Inaddition,shealsomonitorstheunitscombatingabusesinthefinancialsystem.

ShesitsasoneofthemembersofBnM’sBoardofDirectors.SheisalsoamemberoftheBnMMonetaryPolicyCommitteeandFinancialStabilityPolicyCommittee.Sherepresentsthebankinanumberofregionalandinternationalforumsintheareaofbankingsupervision.

ShejoinedBnMinApril1987andhasextensiveexperienceinthedevelopmentofprudentialregulation,legislation,policiesandguidelinesforthefinancialsector.SheholdsaBachelor’sDegreeinAccountancyfromtheUniversityofSouthAustraliaandisaCertifiedPractisingAccountant.


DATO’ MOHAMMED AZLAN BIN HASHIM Pengerusi D&O Green Technologies Bhd (Wakil Profesional)/ Chairman of D&O Green Technologies Bhd (Professional Representative)

DSPN

([email protected])


Dato’ Mohammed Azlan bin Hashim dilantik sebagai AhliPanel Pelaburan pada 1 Jun 2009. Beliau berkelulusanIjazahSarjanaMudaEkonomidaripadaMonashUniversity,Australia pada tahun 1978 dan memperolehi kelayakanAkauntanBerkanunpadatahun1981.BeliaujugamerupakanAhliFelowInstituteofCharteredAccountantsAustralia,AhliMalaysian Institute of Accountants, Ahli Felow MalaysianInstitute ofDirectors danAhli Felow Institute ofCharteredSecretaries and Administrators dan juga Ahli KehormatInstituteofInternalAuditors,Malaysia.

Kini, beliau memegang jawatan sebagai Pengerusidi beberapa perbadanan awam antaranya D&O GreenTechnologies Bhd dan SILK Holdings Bhd. Beliau jugamerupakan ahli lembaga pelbagai badan kerajaan danbadanbukankerajaantermasukLabuanFinancialServicesAuthority, Khazanah nasional Bhd dan Scomi Group Bhd.Beliau juga merupakan Ahli Panel Pelaburan KumpulanWangPersaraan(Diperbadankan).

Beliau turut mempunyai pengalaman yang luas di dalamsektor korporat termasuk perkhidmatan kewangan danpelaburan.BeliautelahberkhidmatsebagaiKetuaPegawaiEksekutif Bumiputra Merchant Bankers Bhd, PengarahUrusan Kumpulan Amanah Capital Malaysia Bhd danPengerusiEksekutifKumpulanBursaMalaysiaBhd.

DATO’ SRI MOHAMED NAZIR BIN ABDUL RAZAKKetua Eksekutif Kumpulan, CIMB Group Holdings Bhd (CIMB Group) (Wakil Profesional)/Group Chief Executive, CIMB Group Holdings Bhd (CIMB Group) (Professional Representative)

SIMP, DSaP, SSaP

([email protected])

Dato’ Sri Mohamed nazir bin Abdul Razak telah dilantiksebagai Ahli Panel Pelaburan mulai 1 Jun 2003. Beliaumerupakan Ketua Eksekutif Kumpulan/Pengarah UrusanCIMBGroupHoldingsBhd(CIMBGroup).

Beliau merupakan ahli Majlis Penasihat Pasaran ModalSuruhanjaya Sekuriti dan Jawatankuasa Eksekutif PusatKewanganIslamAntarabangsaMalaysia.

Beliau berkelulusan BSc (Hons) daripada University ofBristol dan Ijazah Sarjana Falsafah daripada University ofCambridge.

Dato’ Sri Mohamed nazir bin Abdul Razak was appointedasMemberof the InvestmentPanelon1June2003.He iscurrently the Group Chief Executive/Managing Director ofCIMBGroupHoldingsBhd(CIMBGroup).

He is a member of the Securities Commission’s CapitalMarket Advisory Council and the Executive Committee ofMalaysiaInternationalIslamicFinancialCentre(MIFC).

He graduated from the University of Bristol with a BSc(Hons) and later obtained anMPhil from the University ofCambridge.




ENCIK DAVID LAU NAI PEKWakil Profesional/Professional Representative

([email protected])

Dato’ Mohammed Azlan bin Hashim was appointed to theInvestment Panel on 1 June 2009. He graduated with aBachelor of Economics from Monash University, Australiain 1978 and qualified as a Chartered Accountant in 1981.He is also a Fellow Member of the Institute of CharteredAccountants,Australia,aMemberoftheMalaysianInstituteofAccountants,aFellowMemberoftheMalaysianInstituteofDirectors,aFellowMemberoftheInstituteofCharteredSecretaries and Administrators, as well as an HonoraryMemberoftheInstituteofInternalAuditors,Malaysia.

He currently serves as Chairman in several public listedentities, among others, D&O Green Technologies Bhd andSILKHoldingsBhd.He isalsoaBoardMemberof variousgovernment and non-government related organisationsincludingtheLabuanFinancialServicesAuthority,KhazanahnasionalBhdandScomiGroupBhd.HeisalsoamemberoftheKumpulanWangPersaraan(Diperbadankan)InvestmentPanel.

He has extensive experience in the corporate sectorsincludingfinancialservicesandinvestments,andhadservedas Chief Executive of Bumiputra Merchant Bankers Bhd,GroupManagingDirector of AmanahCapitalMalaysiaBhdandExecutiveChairmanofBursaMalaysiaBhdGroup.

Encik David Launai Pek telah dilantik sebagai Ahli PanelPelaburanpada1Jun2009.Beliaumempunyaipengalamanprofesional melebihi 35 tahun dalam bidang kewangantermasuk menerajui pelbagai organisasi kewangan diAustralia, Brunei, China, Malaysia, new Zealand, BelandadanUnited Kingdom.Baru-baru ini, iaitu padaOgos 2011,beliau telah bersara daripada Shell Malaysia setelahberkhidmat dengan Kumpulan Shell selama kira-kira 30tahun dan menyandang pelbagai jawatan. Antara tugasanutama beliau termasuklah berkhidmat sebagai PengarahKewanganuntukShellMalaysia,PengarahKewanganbagiShell China, Pengawal Global untuk Bahagian Eksplorasidan Pengeluaran di Royal Dutch Shell serta TimbalanPresiden Kewangan untuk Shell International ExplorationandProductionB.V.,Belanda.

Beliau memegang Ijazah Sarjana Muda Perdagangandaripada University of Canterbury, new Zealand. Beliauadalah ahli Institut Akauntan Malaysia dan juga ahliPersatuanAkauntannewZealand.

Beliau kini merupakan Pengarah Bukan Eksekutif sertaPengerusi Jawatankuasa Audit Lembaga Pengarah AxiataGroupBhd,iaitusebuahsyarikatsenaraiawamdanCelcomBhd, yang merupakan syarikat tidak tersenarai. Beliaujuga menjadi Pengarah Bukan Eksekutif dan PengerusiJawatankuasa Audit Lembaga Pengarah Malaysia AirlinesSystem Bhd di samping turut menduduki kerusi lembagapengarah Shell Refining Company (FOM) Bhd serta KKBEngineeringBhd.



Mr. David Lau nai Pek was appointed as member of theInvestmentPanelon1June2009.Hehasover35yearsofprofessional experience in finance and has led financialorganisations in Australia, Brunei, China, Malaysia, newZealand, the netherlands and the United Kingdom. Herecently retired from Shell Malaysia in August 2011 afterserving the Shell Group for about 30 years in variouscapacities.HismajorassignmentshaveincludedservingasFinanceDirectorforShellMalaysia,FinanceDirectorforShellChina, Global Controller for the Exploration & ProductionDivisionofRoyalDutchShellandasVice-PresidentFinanceforShell InternationalExplorationandProductionB.V., thenetherlands.

He holds a Bachelor of Commerce Degree from theUniversityofCanterbury,newZealand.He isamemberoftheMalaysianInstituteofAccountantsandthenewZealandSocietyofAccountants.

He is currently anon-ExecutiveDirector andChairman ofthe Board Audit Committee of Axiata Group Bhd, a publiclistedcompanyandCelcomBhd,anon-listedcompany.Heisanon-ExecutiveDirectorandChairmanoftheBoardAuditCommitteeofMalaysianAirlinesSystemBhd.Healso sitsontheboardofShellRefiningCompany(FOM)BhdandKKBEngineeringBhd.

Tan Sri Azlan Zainol dilantik menjadi Ketua PegawaiEksekutifdanAhliEx-OfficioLembagadanPanelPelaburanpada16April2001.BeliaujugaadalahPengerusiMalaysianResourcesCorporationBhd(MRCB)danRHBBankBhd,AhliLembagaPengarahRHBCapitalBhd,RHBInvestmentBankBhd, Jardine Cycle & Carriage Ltd (Singapore), TimbalanPengerusi Jawatankuasa Teknikal International SocialSecurityAssociation(ISSA)danAhliLembagaASEAnSocialSecurityAssociation(ASSA).

SebelummenyertaiKWSP,beliauadalahPengarahUrusanAmBank Bhd dari 1994 hingga 2001, AmFinance Bhd dari1982 hingga 1994 dan pengarah beberapa anak syarikatKumpulan AmBank dari 1996 hingga 2001, serta rakankongsi Tetuan BDO Binder. Beliau adalah Fellow Instituteof Chartered Accountants (England & Wales) serta ahliMalaysianInstituteofAccountantsdanMalaysianInstituteofCertifiedPublicAccountants.

TanSriAzlanZainolwasappointedasChiefExecutiveOfficerand an Ex-Officio Member of the Board and InvestmentPanelon16April2001.HeisalsotheChairmanofMalaysianResources Corporation Bhd (MRCB) and RHB Bank Bhd,a Board Member of RHB Capital Bhd, RHB InvestmentBank Bhd, Jardine Cycle & Carriage Ltd (Singapore), ViceChairman of the Technical Committee of the InternationalSocial Security Association (ISSA) and aBoardMember oftheASEAnSocialSecurityAssociation(ASSA).

Prior to joining the EPF, hewas theManagingDirector ofAmBankBhdfrom1994to2001,AmFinanceBhdfrom1982to 1994, a director of several subsidiaries of the AmBankGroup from 1996 to 2001, as well as a partner of MessrsBDO Binder. He is a Fellow of the Institute of CharteredAccountants (England & Wales), as well as a member ofthe Malaysian Institute of Accountants and the MalaysianInstituteofCertifiedPublicAccountants.

TAN SRI AZLAN ZAINOLKetua Pegawai Eksekutif Kumpulan Wang Simpanan Pekerja/Chief Executive Officer Employees Provident Fund

PSM, PJN, DPMS, DSaP, DMSM, PGBK

([email protected])



PENGuRuSaN KaNaNSEnIORMAnAGEMEnT

DARIKIRIKEKAnAn/FROMLEFTTORIGHT

DATO’IBRAHIMTAIB/TAnSRIAZLAnZAInOL/DATO’SHAHRILRIDZARIDZUAn


PENGURUSAN KANANsenioR manaGement

Dato’ Ibrahim Taib telah dilantik sebagai Timbalan KetuaPegawai Eksekutif, Bahagian Operasi KWSP pada Januari2007. Beliau telah memulakan kerjayanya di KWSP padaJulai1992sebagaiPengurusBesarKanan,JabatanUndang-Undang.

BeliauberkelulusanLLB(Kepujian),UniversitiMalaya(UM)Kuala Lumpur dan LLM daripada Queen Mary College,UniversityofLondon,UnitedKingdom.

Kerjaya undang-undang beliau bermula sebagai majistretdi Mahkamah Majistret Jalan Duta pada Jun 1978 danMahkamah Majistret Segamat pada Oktober 1978. Beliaumemegang jawatan Penasihat Undang-Undang, JabatanPengangkutanJalanpadatahun1982danPenasihatUndang-Undang, Kementerian Sumber Manusia pada tahun 1986.Beliau juga bertugas di Pejabat Peguam negara sebagaiTimbalan Pendakwa Raya, Selangor pada Oktober 1989.Sebelum memulakan perkhidmatan di KWSP pada tahun1992,beliaumemegangjawatansebagaiHakim,MahkamahSesyen,KotaBharu.

Pada masa ini, beliau juga merupakan salah seorangAhli Lembaga Pengarah di DRB-HICOM Bhd, Bandar EcoSetia Sdn Bhd, KWASA Properties Sdn Bhd dan IskandarInvestmentBhd.

BeliautelahmendapatAnugerahBintangKesatriaMangkunegara(KMn)pada1Jun2002danAnugerahDato’PadukaTuankuJa’afar(DPTJ)pada10november2008.

Dato’ IbrahimTaibwasappointedasDeputyChiefExecutiveOfficer, OperationsDivision of the EPF in January 2007.HebeganhistenureattheEPFinJuly1992astheSeniorGeneralManager,LegalDepartment.

He holds an LLB (Honours) fromUniversity ofMalaya (UM)KualaLumpurandLLMfromQueenMaryCollege,UniversityofLondon,UnitedKingdom.

HebeganhislegalcareerasamagistrateattheMagistrateCourtJalanDutainJune1978andwasalsoamagistrateattheMagistrateCourtSegamatfromOctober1978.HewastheLegalAdvisorfortheRoadTransportDepartmentin1982andtheLegalAdvisorfortheMinistryofHumanResourcesin1986.InOctober 1989, hewas attached to theAttorneyGeneral’sChambersasaDeputyPublicProsecutorforSelangor.PriortojoiningtheEPFin1992,hewasaJudgeoftheSessionsCourtKotaBharu.

Currently, he is one of the Directors at DRB-HICOM Bhd,BandarEcoSetiaSdnBhd,KWASAPropertiesSdnBhdandIskandarInvestmentBhd.

He was awarded the Anugerah Bintang Kesatria Mangkunegara(KMn)on1June2002andtheAnugerahDato’PadukaTuankuJa’afar(DPTJ)on10november2008.

DATO’ IBRAHIM TAIBTimbalan Ketua Pegawai Eksekutif, Bahagian Operasi/ Deputy Chief Executive Officer, Operations Division

DPTJ, KMN

([email protected]




Dato’ Shahril Ridza Ridzuan mula bertugas sebagaiTimbalan Ketua Pegawai Eksekutif (Pelaburan) pada1 Disember 2009. Beliau berkelulusan Ijazah SarjanaSastera (Kelas Pertama) daripada Cambridge Universitydan Ijazah Sarjana Muda Undang-Undang Sivil (KelasPertama)daripadaOxfordUniversity.

Sebelum menyertai KWSP, beliau merupakan PengarahUrusan Malaysian Resources Corporation Bhd (MRCB).Beliau juga merupakan individu yang bertanggungjawabdalam membangunkan KL Sentral sebagai salah sebuahpusat perdagangan utama di Malaysia. Kejayaannyadi MRCB telah melayakkan beliau dianugerahkanProperty CEO of The Year oleh Persekutuan HartanahAntarabangsa (FIABCI) cawangan Malaysia pada tahun2009.

Selain itu, beliau pernah berkhidmat dengan PengurusanDanaharta nasional Berhad dan terlibat dalammenguruskan pinjaman semula bank, pemulihan korporatdan penstrukturan semula kredit semasa krisis kewanganAsiapada1997.

Beliau juga merupakan Ahli Lembaga Pengarah BukanEksekutif Media Prima Bhd, Malaysian Building SocietyBerhad, Pengurusan Danaharta nasional Berhad danFeldaGlobalVenturesHoldingsBerhad.

Beliau bertanggungjawab mengendalikan dana pelaburanKWSP.

DATO’ SHAHRIL RIDZA RIDZUANTimbalan Ketua Pegawai Eksekutif, Bahagian Pelaburan/ Deputy Chief Executive Officer, Investment Division

D.S.I.S

([email protected])

Dato’ShahrilRidzaRidzuanjoinedtheEPFon1December2009 as Deputy Chief Executive Officer (Investment).He holds a Master of Arts (First Class) Degree fromCambridgeUniversityandBachelorofCivilLaw(FirstClass)DegreefromOxfordUniversity.

Prior to joining the EPF, hewas theManagingDirector ofMalaysian Resources Corporation (MRCB) where he wasresponsible fordevelopingKLSentral intooneof themaincommercialcentres inMalaysia.HissuccessatMRCBsawhimbeingnamedPropertyCEOof The Year by theFIABCIMalaysiabranch in2009.Asidefromthis,heusedtoservePengurusanDanahartanasionalBerhad.Hewasinvolvedinmanagingbankloansrescheduling,corporaterecoveryandcreditrestructuringduringtheAsianfinancialcrisisof1997.

He isalsoanon-ExecutiveBoardMemberofMediaPrimaBhd, Malaysian Building Society Berhad, PengurusanDanaharta nasional Berhad and Felda Global VenturesHoldingsBerhad.

HehasbeenentrustedwithhandlingtheEPF’s investmentfunds.


Pencapaian Akademik/Academic Achievementi. FellowoftheInstituteofCharteredAccountantsin

England&Walesii. MemberoftheMalaysianInstituteofCertifiedPublic

Accountantsiii. CharteredAccountant,MalaysianInstituteof

Accountants

Jawatan/PositionKetuaPegawaiEksekutif/Chief executive officer

TAN SRI AZLAN ZAINOL(PSM, PJN, DPMS, DSaP, DMSM, PGBK)

.

PENGuRuSaN KaNaNSEnIORMAnAGEMEnT



Pencapaian Akademik/Academic Achievementi. LLM,LondonUniversityii. LLB(Hons),UniversitiMalaya(UM)

Jawatan/PositionTimbalanKetuaPegawaiEksekutifBahagianOperasi/Deputy Chief executive officer operations Division

DATO’ IBRAHIM BIN TAIB(DPTJ, KMN)

.

Pencapaian Akademik/Academic Achievementi. MasterofArts,CambridgeUniversityii. BachelorofCivilLaws,OxfordUniversity

Jawatan/PositionTimbalanKetuaPegawaiEksekutifBahagianPelaburan/Deputy Chief executive officer investment Division

DATO’ SHAHRIL RIDZA BIN RIDZUAN(DSIS)

.

Pencapaian Akademik/Academic Achievementi. MasterofBusinessAdministration(Information

Technology&Management)MaastrichtSchoolofManagement(MSMInt./MalaysianInstituteofManagement(MIM))

ii. DiplomainManagementProgramme,MalaysianInstituteofManagement

Jawatan/PositionKetuaJabatanTeknologiMaklumat/Head information technology Department

ENCIK ANDY TAN ENG TEIK(KMN)

.

Pencapaian Akademik/Academic Achievementi. CertifiedPublicAccountant,MalaysianInstituteof

CertifiedPublicAccountantsii. CharteredAccountant,MalaysianInstituteof

Accountants

Jawatan/PositionKetuaJabatanPengurusanRisiko/Head Risk management Department

ENCIK JAMES LIM TUANG OOI

.



.Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi(EkonomiPertanian)

(Kepujian),UniversitiKebangsaanMalaysia(UKM)

Jawatan/PositionKetuaJabatanPengurusanSumberManusia/Head Human Resource management Department

ENCIK AZMI BIN AWANG(aMN, aSK)

.Pencapaian Akademik/Academic Achievementi. IjazahSarjanaSains(PembangunanSumber

Manusia),UniversitiPertanianMalaysia(UPM)ii. IjazahSarjanaMudaSainsKemasyarakatan&

Kemanusiaan(Komunikasi)(Kepujian),UniversitiKebangsaanMalaysia(UKM)

Jawatan/PositionKetuaJabatanPendaftaran&OperasiSokongan/Head Registration & support operation Department

TENGKU ROSHANI BINTI TENGKU EMBONG

.Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi(PentadbiranPerniagaan),

UniversitiMalaya(UM)ii. CertifiedDiplomainAccountingAndFinance

(CDipAF),ACCA

Jawatan/PositionKetuaJabatanPengurusanHarta/Head Property management Department

ENCIK TAMILWANAN A/L PALANIAPPAN


Pencapaian Akademik/Academic Achievementi. MasterofScienceinFinancialDecisionAnalysis,

UniversityofPortsmouth,UKii. IjazahSarjanaMudaSastera(Ekonomi),Universiti

Malaya(UM)

Jawatan/PositionKetuaJabatanAuditDalam/Head internal audit Department

ENCIK WONG CHEN CHEONG

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaSains(EkonomiSumber),

UniversitiPertanianMalaysia(UPM)ii. DiplomaPengajianIslam,UniversitiKebangsaan

Malaysia(UKM)

Jawatan/PositionKetuaJabatanPusatPengurusanPanggilan/Head Call management Centre Department

ENCIK BAHRUDIN BIN JAWADI

.



Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi(StatistikEkonomi),

UniversitiKebangsaanMalaysia(UKM)ii. DiplomainInvestmentAnalysis,Malaysian

AssociationofProductivityiii. DiplomainAccounting&Finance,TheChartered

AssociationofCertifiedAccountants

Jawatan/PositionKetuaJabatanPematuhanPelaburan/Head investment Compliance Department

PUAN CINDY TAN LER CHIN

.

Pencapaian Akademik/Academic Achievementi. MasterofBusinessAdministrationinFinancial

Studies,Universityofnottingham,UKii. IjazahSarjanaMudaSastera(Ekonomi),Universiti

Malaya(UM)iii. CertifiedDiplomainAccounting&Finance(CDipAF),

ACCAiv. AssociateMemberofCharteredInstituteof

Secretaries&Administrators,(ACIS),UK

Jawatan/PositionKetuaInstitutKWSP/Head ePF institute

ENCIK VIJAYA KUMAR A/L C. RAJARATNAM

.

.Pencapaian Akademik/Academic Achievementi. CharteredFinancialAnalyst(CFA)ii. BachelorofScience(Economics&Mathematics),

BristolUniversity,UK

Jawatan/PositionKetuaJabatanPenyelidikanEkuiti/Head equity Research Department

ENCIK NOR AZAM BIN YAHYA

.Pencapaian Akademik/Academic Achievementi. M.AActuarialScience,BallStateUniversity,Muncie,

Indiana,USAii. B.ScActuarialScience,BallStateUniversity,

Muncie,Indiana,USA

Jawatan/PositionKetuaJabatanKuantitatif&AnalisisPrestasi/Head Quantitative & Performance analysis Department

ENCIK BADRUL HISHAM BIN DAHALAN

.Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi,UniversitiMalaya(UM)

Jawatan/PositionKetuaJabatanPerbendaharaan/Head treasury Department

ENCIK WAN KAMARUZAMAN BIN WAN AHMAD



Pencapaian Akademik/Academic Achievementi. AssociateofCharteredCertifiedAccountants(ACCA),

UKii. BA(Hons)inAccountingandFinance,Southbank

University,Londoniii. DiplomaPerakaunan,UniversitiTeknologiMara(UiTM)

Jawatan/PositionKetuaJabatanKewangan/Head Finance Department

ENCIK SAZALIZA BIN ZAINUDDIN

.

Pencapaian Akademik/Academic Achievementi. AustralianSocietyofCertifiedPractisingAccountants

(ASCPA)ii. BachelorofCommerce(Accountancy),Australian

nationalUniversity,Canberra,Australia

Jawatan/PositionKetuaJabatanPasaranModal/Head Capital market Department

PUAN ROHAYA BINTI MOHAMMAD YUSOF

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi(Pentadbiran

Perniagaan)(Kepujian),UniversitiMalaya(UM)ii. CertifiedDiplomainAccountingandFinance(ACCA),

UK

Jawatan/PositionKetuaJabatanPengurusanProsesOperasi/Head operations Process management Department

ENCIK ONG HOCK CHYE

.


Pencapaian Akademik/Academic Achievementi. MasterofEconomics,FacultyofEconomicsand

SocialStudies,UniversityofManchester,UKii. IjazahSarjanaMudaEkonomi(Kepujian),Fakulti

EkonomidanPentadbiranAwam,UniversitiMalaya(UM)

Jawatan/PositionKetuaJabatanEkonomiDanPasaranModal/Head economics & Capital market Department

CIK NORASIKIN BINTI ABDUL HAMID

.



Pencapaian Akademik/Academic Achievementi. MScPublicRelations,UniversityofStirling,Scotland,UKii. DiplomaPerhubunganAwam,UniversitiTeknologiMara

(UiTM)

Jawatan/PositionKetuaJabatanKomunikasiKorporat/Head Corporate Communications Department

ENCIK NIK AFFENDI BIN JAAFAR(aSK)

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaSainsKemasyarakatan

(PengajianPembangunan),UniversitiSainsMalaysia(USM)

Jawatan/PositionKetuaJabatanRangkaianCawangan/Head Branch network Department

ENCIK KHALID BIN HARON @ SHAHRON

.

Pencapaian Akademik/Academic Achievementi. MasterofScienceinProfessionalAccounting,

UniversityofHartford,Connecticut,USAii. BachelorofScienceinBusinessAdministration

(Accounting),UniversityofHartford,Connecticut,USA

iii. DiplomaPerakaunan,UniversitiTeknologiMara(UiTM)

Jawatan/PositionKetuaJabatanCaruman/Head Contribution Department

CIK NORIZAH BINTI HASSALLI(PJK)

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaSasteraKepujian(SainsPolitik),

UniversitiKebangsaanMalaysia(UKM)

Jawatan/PositionKetuaJabatanPenguatkuasaan/Head enforcement Department

ENCIK HARDIAL SINGH A/L MITT SINGH

.



Pencapaian Akademik/Academic Achievementi. MasterofBusinessAdministration(MBA),Universiti

PutraMalaysia(UPM)ii. IjazahSarjanaMudaPengurusanPerniagaan

(Kepujian),UniversitiKebangsaanMalaysia(UKM)

Jawatan/PositionKetuaJabatanPengurusanPerolehanBekalan/Head Procurement management Department

PUAN ZAINAB BINTI HAMID

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaEkonomi(Kepujian),Universiti

Malaya(UM)

Jawatan/PositionKetuaJabatanPengeluaran/Head Withdrawal Department

PUAN ZALIKAR BINTI YUSOFF

.

Pencapaian Akademik/Academic Achievementi. MasterofScience(Investment),UniversityofStirling,

Scotland,UKii. IjazahSarjanaMudaSainsKemasyarakatan

(Ekonomi),UniversitiSainsMalaysia(USM)iii. CertifiedDiplomainAccounting&Finance,ACCA

Jawatan/PositionKetuaJabatanEkuitiLuarnegara/Head international equity Department

ENCIK MOHAMAD NASIR BIN AB LATIF

.

Pencapaian Akademik/Academic Achievementi. MasterofScienceinFinancialEconomics(Merit),

SchoolofOriental&AfricanStudies,UniversityofLondon,UK

ii. BachelorofScience(Economics),LouisianaStateUniversity,USA

Jawatan/PositionKetuaJabatanOperasiStrategik/Head strategic operation Department

ENCIK A. HUZAIME BIN ABDUL HAMID

.




Pencapaian Akademik/Academic Achievementi. CharteredFinancialAnalyst(CFA)ii. FellowoftheAssociationofCharteredCertified

Accountants(ACCA)iii. BachelorofScience(Economics)inAccountingand

Finance,LondonSchoolofEconomics,UK

Jawatan/PositionKetuaJabatanPasaranPersendirian/Head Private market Department

ENCIK MOHAMAD HAFIZ BIN KASSIM

.

Pencapaian Akademik/Academic Achievementi. MasterofBusinessAdministrationinInternational

Business,newHampshireCollege,USAii. BachelorofScienceinAccounting,newHampshire

College,USAiii. DiplomaPerakaunan,UniversitiTeknologiMara

(UiTM)

Jawatan/PositionKetuaJabatanEkuitiDomestik/Head Domestic equity Department

PUAN ZALINAH BINTI A. HAMID

.

Pencapaian Akademik/Academic Achievementi. IjazahSarjanaMudaUndang-Undang,Universiti

IslamAntarabangsa(UIA)

Jawatan/PositionKetuaJabatanUndang-Undang/Head Legal Department

PUAN NOR HAZQIAH BINTI CHE IDRIS

.



aNuGERaH DaN PENCaPaIaNAWARDSAnDACHIEVEMEnT



Tahun 2011merupakan tahun yangmembanggakanKWSP apabilamenerima pelbagai anugerahdan pencapaian yang cemerlang. Pencapaian ini adalah bukti usaha gigihKWSP untukmenambah baik tahap kemudahan dan perkhidmatan kepada ahliwalaupun ia telah lamadiiktiraf sebagai institusi simpanan terkemuka diMalaysia.

The year 2011 has been a year of accolades for the EPFwith the organisation bagging numerousawards and achievements. This accomplishment affirms the Fund’s dedication to continuouslyimprove its facilities and services tomembers despite being long established as the leadingsavings institution inMalaysia.

• Anugerah Setiausaha Persekutuan Sarawak 2010 danJohan Anugerah Perkhidmatan Kaunter Cemerlang2010sempenaPerhimpunanHariPerkhidmatanAwamnegeri Sarawak 2011 –KWSPKuching

– SarawakFederalSecretaryAward2010andWinnerofthe Excellent Counter Ser vice Award 2010 inconjunction with the Sarawak Civil Service AssemblyDay 2011 – EPFKuching

• Penarafan 5-Bintang bagi laman web KWSP (myEPF)serta menduduki ranking 10 laman web terbaik dikalangan 1,155 portal dan laman web kerajaan olehPenilaian Portal dan Laman Web Kerajaan Malaysia(MGPWA)

– 5-Star rating forEPF’smyEPFwebsiteand rankedasone of the top 10 websites among 1,155 governmentportals and websites by the Malaysia GovernmentPortals andWebsites Assessment (MGPWA)

• AnugerahSGAM(ShareGuideAssociationofMalaysia)Enterprise Security Excellence Awards 2011 melaluilaporan bagi projek Identity & Security ManagementProject (EXPRESSO) pada 6Oktober 2011

– SGAM Award (Share Guide Association of Malaysia)Enterprise Security Excellence Award 2011 for theIdentity & Security Management Project (EXPRESSO)onOctober 6, 2011

• Anugerah Kecemerlangan Pengurusan Kewangan4 -B in t ang b ag i k a tego r i B adan Ber kanunPersekutuan

– 4-StarFinancialManagementExcellenceAwardunderthe Federal StatutoryBodies category

• Disenaraikan sebagai pengurus dana pencenkesembilan terbesar dunia dari segi aset pada 2010olehsyarikatTowerWatson,iaitusyarikatperkhidmatanprofesional global yang berpangkalan di AmerikaSyarikat

– Listed as the ninth largest pension fund manager interms of assets in 2010 by Tower Watson, a globalprofessional services company based in the UnitedStates

• Ranking pertama seluruh negeri Pahang dalamAmalan Budaya Senyum untuk Agensi KerajaanHasil Mystery Shopper Pentadbiran Awam – KWSPKuantan

– Ranked first in the ‘Smile Culture Practice’ forGovernment Agencies by the Public AdministrationMystery Shopper – EPFKuantan

• Anugerah IDC Enterprise Innovation Awards 2011bagi Sis tem Pengurusan Identi t i Perniagaan(EXPRESSO)

– IDC Enterprise Innovation Award 2011 for BusinessIdentityManagement System (EXPRESSO)

• Pensijilan ISO/IEC 20000-1:2005 bagi pengurusan danpenyelenggaraanProvidentFundSystem(PFS),IFAMS(Financial System – SAP), MyEPF (Web Portal),Exchange Email & Sharepoint Portal dan HumanResourceManagement System (HRMS)

– ISO/IEC20000-1:2005Certificationforthemanagementandmaintenanceof theProvidentFundSystem (PFS),IFAMS(FinancialSystem–SAP),MyEPF (WebPortal),Exchange Email & Sharepoint Portal and HumanResourceManagement System (HRMS)

• Pensijilan Semula MS ISO 9001:2008 dari tahun 2011hingga 2014 tanpa sebarang penemuan nCR (nonConformance Report) mahupun OFI (Opportunity forImprovement)

– MSISO9001:2008Recertificationfrom2011until2014withoutanyfindingsofnCR(nonConformanceReport)or OFI (Opportunity for Improvement)

ANUGERAH DAN PENCAPAIANaWaRDs anD aCHieVement


KETUA CAWANGAN/KETUA PERKHIDMATAN/KETUA PENGUATKUASAANHeaD oF BRanCHes/HeaD oF seRViCes/HeaD oF enFoRCements

NEGERI/STATE TEMPAT/LOCATION

KETUA CAWANGAN/KETUA PERKHIDMATAN/KETUA PENGUATKUASAAN/HEAD OF BRANCHES/HEAD OF SERVICES/HEAD OF ENFORCEMENTS NAMA/NAME

WilayahPersekutuanKualaLumpur

SetapakPudu

KetuaCawangan/HeadofBranch

HasnanbinIbrahimMohdArriffSuboh

KLUtamaKepongCheras

KetuaPerkhidmatan/HeadofService

norzawatibintiMohdnohnorRohidabintiDinFatimahSambintiSalfudin

BandarKepongCheras

KetuaPenguatkuasaan/HeadofEnforcement

noorazmanbinAbdullahRoziliainibintiIsmailMohammadbinCheRus

Selangor

ShahAlamPetalingJayaKajangKlangPuchongGombakKualaSelangor


AhmadbinAbasMd.TarmuzibinMdSallehMohdApipibinYaacobParameswarana/lVVSubramaniamSuhaizambinIsmailnorzilahbintiHajiAbdulRazakKamarulHalimbinCheHim

Johor

JohorBahruBatuPahatKluangSegamatMuar


MohammadZulkiflybinZainalAbidinMohdAhyanbinShukimeeMaheranbinOthmanMelatibintiMohamedMohdDalibinJasmin

MersingKetuaPerkhidmatan/HeadofService

HuzaimahbintiHashim

PulauPinang

SeberangJayaGeorgetown


MohdRodzibinAbuBakarAminuddinbinAbdulAziz

BayanBarunibongTebal


MdSabribinHamidMohdSobribinWahab

Perak

IpohTaipingManjungTelukIntan


MohdKamalbinRasulMohdYasinbinAbuBakarMohdAminbinMatIsaDaudbinHerman

GrikKualaKangsar


SharulnizambinHamdanMohammadRuzaimibinJuani

KedahAlorSetarSungaiPetaniLangkawi


AbdulRazakbinRazaliAbdulLatifbinAdnanKhairuddinbinYahya

Perlis KangarKetuaCawangan/HeadofBranch

AhmadTamerinbinHajiAbdulAziz



NEGERI/STATE TEMPAT/LOCATION

KETUA CAWANGAN/KETUA PERKHIDMATAN/KETUA PENGUATKUASAAN/HEAD OF BRANCHES/HEAD OF SERVICES/HEAD OF ENFORCEMENTS NAMA/NAME

Kelantan

KotaBharuKualaKrai


norAzharbinAbdulMoktiTheyIyuJu

GuaMusangKetuaPerkhidmatan/HeadofService

RohanabintiCheAbdullah

Melaka

BandarMelakaKetuaCawangan/HeadofBranch

MohdnohanbinSalim

AlorGajahJasin


nasirudinbinHayonRozitabintiDaud

Pahang

KuantanTemerlohRaub


JeffarybinMohamedIsaMohamedZubirbinAliasMohdAnuarbinIsmail

JerantutKetuaPerkhidmatan/HeadofService

nazaruddinbinMohammed

negeriSembilanSerembanBahau


UsinbinIbin@HusinbinIbinMdAlibinMahmood

Terengganu

KualaTerengganuKemaman


MohammadBakribinMuhammadA.RahmanbinMustaffar

DungunBesut


MaisarahbintiMohamadWanRohaizaAinibintiWanIsmail

Sabah

KotaKinabaluTawauLahadDatuSandakanLabuanKeningauKudat


KelyJitilonJanaithLeeBernandLingganAzimanbinAwangPeterTanggang@AwangDamitShahranibinHajiIbrahimMahmunbinSayadi

BeaufortKetuaPerkhidmatan/HeadofService

HildaGeorge

Sarawak

KuchingBintuluSibuMiri


ChiaSweeChooUnyangDeng/nellieJawinga/knayangTeresaa/kStephenImpang

SriAmanSarikeiLimbang


MohamadMadhibinAtaJasnibintiJa’afarZalinahbintiTurusi

KETUA CAWANGAN/KETUA PERKHIDMATAN/KETUA PENGUATKUASAANHeaD oF BRanCHes/HeaD oF seRViCes/HeaD oF enFoRCements


CARTA ORGANISASIoRGanisation CHaRt

KETUA PEGAWAI EKSEKUTIFCHieF eXeCUtiVe oFFiCeR.TIMBALAN KETUA PEGAWAI EKSEKUTIF(BAHAGIAnOPERASI)

DEPUTY CHIEF EXECUTIVE OFFICER(oPeRations DiVision)

• InSTITUTKWSP ePF institUte • JABATAnOPERASISTRATEGIK stRateGiC oPeRation DePaRtment • JABATAnPERAnCAnGAnSTRATEGIK stRateGiC PLanninG DePaRtment • JABATAnPEnGURUSAnHARTA PRoPeRtY manaGement DePaRtment • JABATAnCARUMAn ContRiBUtion DePaRtment • JABATAnPEnGELUARAn WitHDRaWaL DePaRtment • JABATAnTEKnOLOGIMAKLUMAT inFoRmation teCHnoLoGY DePaRtment • JABATAnPEnGUATKUASAAn enFoRCement DePaRtment• JABATAnUnDAnG-UnDAnG LeGaL DePaRtment • JABATAnPEnGURUSAnPROSESOPERASI oPeRations PRoCess manaGement DePaRtment

• JABATAnRAnGKAIAnCAWAnGAn BRanCH netWoRK DePaRtment

• JABATAnPEMATUHAnPELABURAn inVestment ComPLianCe DePaRtment• JABATAnPEnDAFTARAn&OPERASISOKOnGAn ReGistRation & sUPPoRt oPeRations DePaRtment • JABATAnPUSATPEnGURUSAnPAnGGILAn CaLL manaGement CentRe DePaRtment

• SEKSYEnPEnGURUSAnPERHUBUnGAnPELAnGGAn CUstomeR ReLationsHiP manaGement seCtion

• SEKSYEnE-PERKHIDMATAn e-seRViCes seCtion

• CAWAnGAnKWSP ePF BRanCHes



. .• JABATAnPEnGURUSAnRISIKO RisK manaGement DePaRtment• JABATAnAUDITDALAM inteRnaL aUDit DePaRtment

• JABATAnPEnGURUSAnSUMBERMAnUSIA HUman ResoURCe manaGement DePaRtment• JABATAnKEWAnGAn FinanCe DePaRtment

• JABATAnKOMUnIKASIKORPORAT CoRPoRate CommUniCations DePaRtment

• PEJABATPERHUBUnGAnISSABAGIASIATEnGGARA

issa Liaison oFFiCe FoR soUtH east asia

TIMBALAN KETUA PEGAWAI EKSEKUTIF(BAHAGIAnPELABURAn)

DEPUTY CHIEF EXECUTIVE OFFICER(inVestment DiVision)

• JABATAnPERBEnDAHARAAn tReasURY DePaRtment• JABATAnEKUITILUARnEGARA inteRnationaL eQUitY DePaRtment• JABATAnPASARAnMODAL CaPitaL maRKet DePaRtment• JABATAnKUAnTITATIF&AnALISAPRESTASI QUantitatiVe & PeRFoRmanCe anaLYsis

DePaRtment• JABATAnPEnYELIDIKAnEKUITI eQUitY ReseaRCH DePaRtment• JABATAnPASARAnPERSEnDIRIAn PRiVate maRKet DePaRtment• JABATAnEKOnOMI&PASARAnMODAL eConomiCs & CaPitaL maRKet DePaRtment• JABATAnEKUITIDOMESTIK DomestiC eQUitY DePaRtment • JABATAnPEnGURUSAnPEROLEHAnBEKALAn PRoCURement manaGement DePaRtment

• PEJABATPEnGURUSAnPROGRAM PRoGRamme manaGement oFFiCe

CARTA ORGANISASIoRGanisation CHaRt


PERuTuSaN PENGERuSICHAIRMAn’SSTATEMEnT



TAHUN YANG KUKUH

Padatahun2011,KumpulanWangSimpananPekerja (KWSP)terusmemperkukuhkanterasyangtelahdibinapadatahunsebelumnyauntukmenghasilkanprestasikewangandanoperasiyangcemerlang.Disebalikketidaktentuanpasaranglobal,KWSP telahmemanfaatkanpeluangpasaranuntukmencatatkanprestasikewanganyangmemberangsangkandanrekodpendapatankasartertinggi.Darisegiprestasioperasi,KWSPtelahmeneruskanmomentumkukuhyangdibinapadatahun2010 untuk memperteguhkan kecekapan operasi, mempertingkatkan tahap khidmat pelanggan dan mencapai sasaranprestasiutama.

TahuninijugamenyaksikanKWSPmelaksanakanpelbagaiinisiatifpenambahbaikankualitiyangpentingsertaamalanterbaiktadbiruruskorporatdanpengurusanrisiko.Selainitu,KWSPtelahmelakukanperubahantaktikalterhadapstrategipelaburanKWSP dalam melindungi pelaburan KWSP secara keseluruhan dan menjajarkannya mengikut keperluan masa kini.Bersandarkanlangkah-langkahini,KWSPhariiniberadapadakedudukanyanglebihteguhdalammencapaisasaranmenjadisebuahorganisasikeselamatansosialbertarafduniayangmenyediakansimpananpersaraanterbaikbagirakyatMalaysia.

BagipihakLembagaKWSP,sayadengansukacitanyamembentangkanLaporanTahunanKWSPbagitahunkewanganberakhir31Disember2011.

A STRONG YEAR

In2011,theEmployeesProvidentFund(EPF)continuedtobuilduponthestrongfoundationslaid intheprecedingyeartodeliverexcellentfinancialandoperationalresults.Despiteglobalmarketuncertainties,wecapitalisedonmarketopportunitiestodeliverasoundfinancialperformanceandourhighestgrossincometodate.Intermsofouroperationalperformance,weleveragedonthestrongmomentumgainedin2010tostrengthenoperationalefficiencies,bolstercustomerservicelevelsanddeliveragainstkeyperformancetargets.

Theyearalsosawusrollingoutahostofsignificantqualityimprovementinitiativesaswellascorporategovernanceandriskmanagementbestpractices.Ontopofthis,wemadetacticalchangestotheFund’sinvestmentstrategiestosafeguardouroverallinvestmentsandalignthemwithpresent-dayneeds.Ontheaccountofallthesemeasures,theEPFtodayisinamuchstrongerpositiontoachieveourambitionofbecomingaworld-classsocialsecurityorganisationprovidingthebestretirementsavingsforMalaysians.

OnbehalfoftheEPFBoard,itismypleasureandprivilegetopresenttheAnnualReportoftheEPFforthefinancialyearended31December2011.

KAMI TELAH MELAKUKAN PERUBAHAN TAKTIKAL TERHADAP STRATEGI PELABURAN UNTUK MELINDUNGI PELABURAN KWSP SECARA KESELURUHAN

WEMADETACTICALCHAnGESTOTHEFUnD’SInVESTMEnTSTRATEGIESTOSAFEGUARDOUROVERALLInVESTMEnTS

“ “

PERUTUSAN PENGERUSICHaiRman’s statement


WEAK GLOBAL ECONOMIC CONDITIONS

The year 2011 saw the global economy registering weakerperformance as compared to the preceding year. Thedivergenceingrowthperformancebetweentheemerginganddeveloped economies remained relatively wide. Fiscal anddebt problems plagued the developed economies, whileinflationandmonetarytighteninghavecausedtheemergingeconomiesexperiencedmoderategrowth.Theslowergrowthwasattributabletoaseriesofevents includingtheendofastrong cyclical rebound; unprecedented political turmoil intheMiddleEastandnorthAfrica(MEnA);aseriesofmassivenaturaldisastersaroundtheglobeparticularlyinJapan;andthemoresevere thanexpectedcrises thathit theadvancedeconomies,particularlytheUnitedStatesandEurozone.

Onthedomesticfront,Malaysia’sexports,especiallyitselectricaland electronic products, were not spared the slowdown.nonethelessdomesticdemandremainedresilient,withprivateconsumptionremainingrobust,underpinnedbyahealthylabourmarket and firm commodity prices. The Government’saccommodativefiscalandmonetarypoliciessupportedgrowthduringtheyear.Malaysiaisforecasttoregister5to5.5percentGDPgrowthin2011(2010:7.2percent).

ROBUST FINANCIAL PERFORMANCE

Iamdelightedtoannouncethatdespitethesevolatileglobalmarketconditions,theEPFdeliveredacredibleinvestmentperformance in 2011. Our investment asset size grewRM28.70billionor6.52percenttoRM469.22billionin2011.Bysuccessfullyleveraginglong-termandprudentinvestmentstrategies to optimise our return on investment (ROI), wetouchedtheRM25.08billionmarkinnetincome,registeringa12.42percentincreaseovertheRM22.31billionrecordedin2010.Moreover,wedeliveredanROIrateof6.67percentsustainingthemomentumoflastyear’s6.41percentrateofreturn.Ourcommendableresultsaremainlyattributabletothe good capital gains garnered from equity investmentsespeciallyduringthefirsthalfoftheyear.

As a result of this robust financial performance, the EPFBoard,withtheapprovaloftheMinisterofFinance,declareda dividend rate of 6.00 per cent for 2011 in themonth ofFebruary 2012. This dividend ratewas a commendable 20basispointimprovementoverthe5.80percentpaidoutforthe year 2010, and is equivalent to RM24.47 billion - thehighest dividend pay-out amount ever. The EPF crediteddividendstomembers’accountson20February2012.

KELEMBAPAN EKONOMI GLOBAL

Tahun 2011memperlihatkan ekonomi globalmencatatkanprestasiyanglembapberbandingtahunsebelumnya.Jurangperbezaan dalam prestasi pertumbuhan di antara negarasedang pesat membangun dan negara maju kekal luas.Masalah fiskal dan hutang telah melanda negara maju,manakala kadar inflasi yang tinggi serta dasar monetariyanglebihketattelahmenyebabkanekonominegarasedangpesat membangun mengalami pertumbuhan sederhana.Pertumbuhan yang lebih perlahan ini adalah disebabkanoleh beberapa peristiwa termasuk berakhirnya lantunankitaran yang teguh; rusuhan politik yang belum pernahberlaku sebelum ini di Timur Tengah serta Afrika Utara(MEnA); beberapa kejadian bencana alam yang besar diserata dunia khususnya di Jepun; serta krisis yang lebihteruk dari jangkaan melanda negara maju, terutamanyaAmerikaSyarikatdanzonEuro.

Di dalam negara, eksport Malaysia, terutamanya produkelektrikdanelektroniktidakterlepasdaripadakelembapanini. namun demikian permintaan domestik tetap bertahandengan perbelanjaan swasta kekal teguh, didorong olehpasaran buruh yang mantap serta harga komoditi yangstabil. Dasar kewangan dan fiskal Kerajaan yang bersifatakomodatifmenyokongpertumbuhandisepanjangtahunini.KDnKMalaysiadiramalkanberkembangsebanyak5hingga5.5 peratus peratus pada tahun 2011 berbanding dengan7.2peratusyangdicatatkandalamtahunsebelumnya.

PRESTASI KEWANGAN YANG TEGUH

Sukacita saya mengumumkan bahawa meskipun keadaanpasaran global tidak menentu, KWSP telah mencatatkanprestasi pelaburan yangmeyakinkan pada tahun 2011. Saizaset pelaburan KWSP meningkat sebanyak RM28.70 bilionatau 6.52 peratus kepadaRM469.22 bilion pada akhir tahun2011. Bersandarkan strategi jangka panjang serta amalanpelaburanberhemahdalammengoptimumkankadarpulanganpelaburan (ROI), pendapatan bersih tahunan mencecahRM25.08 bilion, satu peningkatan sebanyak 12.42 peratusberbandingRM22.31bilionyangdirekodkanpadatahun2010.Prestasi ROI pada kadar 6.67 peratus yang dicatatkanmenunjukkan kelangsungan momentum ROI 6.41 peratusyang diperolehi pada tahun sebelumnya. Pencapaian yangmembanggakan ini banyak disumbangkan oleh keuntunganmodal yang memberangsangkan yang dijana daripadapelaburanekuiti,terutamanyapadasetengahtahunpertama.

Berdasarkanprestasikewanganyangteguhini,LembagaKWSP,dengan kelulusan Menteri Kewangan, telah mengisytiharkankadardividensebanyak6.00peratusuntuktahun2011padabulanFebruari2012.Kadardivideniniadalah20mataasaslebih baik berbanding 5.80 peratus kadar dividen tahunsebelumnya.JumlahdividenyangdiagihRM24.47bilionjugamerupakan jumlah pembayaran dividen yang tertinggisetakat ini. Amaun dividen ini telah dikreditkan ke dalamakaunahlipada20Februari2012.





MAINTAINING THE GOOD MOMENTUM

Theyearinreviewsawuscontinuingtomakegoodoperationalprogress as we strengthened the three key areas of coresystem performance, network expansion and frontlinecustomer service. By maintaining the good momentumachieved in the areas of systems, processes, operationalefficiencies and people development, the EPF now has astrongerservicedeliveryplatformtolaunchfrom.

Asof31December2011,thetotalnumberofEPFmembershadincreasedto13.15millionmembers,whilethenumberofemployersregisteredwithusroseto487,664employersas compared to 12.72 million members and 469,390registeredemployersrespectivelyin2010.Tokeeppacewiththeriseinnumbers,wecontinuedtoleveragetechnologicalinnovation to drive operational efficiencies and elevatecustomerservicelevels. In2011,wetappedICTtoprocess1,969,854 withdrawal applications amounting to RM23.30billionascomparedto1,996,881applicationsamountingtoRM21.89billionin2010.

Toensuremembersandemployersreceivethebestservicepossible,wecontinuetoprovidethemvariousservicedeliverychannels to interact with us at their convenience and incomfort. The year saw a higher number of members andemployersoptingtouseouronlineservicesandalternativeservice delivery channels as opposed to conducting over-the-counter(OTC)transactions.Electronicservicechannelssuch as myEPF website, the i-Akaun personalised onlineaccount and EPF Kiosks continued to be among themostpopularplatformregistering26percent,27percentand19percentincreasesinusagerespectively.

MENGEKALKAN MOMENTUM YANG MEMBERANGSANGKAN

Tahun yang dikaji menyaksikan KWSP terus menciptakemajuanoperasiyangbaikbersandarkanpengukuhantigabidang penting iaitu prestasi sistem teras, pengembanganrangkaiandankhidmatpelangganbarisanhadapan.Denganmengekalkanmomentum baik yang dicapai dalam bidangkecekapansistem,proses,operasidanpembangunaninsan,KWSPkinimempunyailandasanpenyampaianperkhidmatanyanglebihteguhuntukdigunakan.

Setakat31Disember2011,jumlahahliKWSPtelahmeningkatkepada13.15juta,manakalabilanganmajikanyangberdaftardenganKWSPtelahmeningkatkepada487,664berbandingdengan12.72 jutaahlidan469,390majikanberdaftarpada2010.Seiringdenganpertambahanbilanganini,KWSPterusmemanfaatkan inovasi teknologi bagi memacu kecekapanoperasidanmeningkatkantahapperkhidmatanpelanggan.Pada2011,KWSPtelahmenggunakanICTuntukmemproses1,969,854permohonanpengeluarandenganjumlahRM23.30bilion berbanding 1,996,881 permohonan yang berjumlahRM21.89bilionpada2010.

Bagimemastikanahlidanmajikanmenerimaperkhidmatanyang terbaik KWSP terus menyediakan pelbagai saluranpenyampaian perkhidmatan untuk memudahkan merekaberinteraksidenganKWSPdalamkeadaanselesa.Tahuninimenyaksikanbilanganahlidanmajikanyangmemilihuntukmenggunakan khidmat dalam talian serta saluranpenyampaian perkhidmatan alternatif semakin bertambahramai berbanding denganmenjalankan urus niaga melaluikaunter.SaluranperkhidmatanelektroniksepertilamanwebmyEPF,akaunperibadidalamtaliani-AkaundanKiosKWSPterusmenjadiantaraplatformpopulardenganmasing-masingmencatatkanpeningkatanpenggunaansebanyak26peratus,27peratusdan19peratus.


As a result of continual improvementsmade to the EPF’swebsite, myEPF received a 5-Star rating and was rankedamongthe10bestwebsitesoutof1,155governmentportalsand websites by the Malaysian Government Portals andWebsitesAssessment(MGPWA)body.

In line with our aim of enhancing the customer serviceexperience, we introduced several new technologicalplatforms. Among these were the Contribution PaymentKiosktofacilitateafteroffice-hourcontributionpaymentsbycheque; the mobile version of myEPF website for smartphoneusers;andtheMyCoIDfacilitytofacilitatehassle-freeemployerregistrationbyutilisingasinglecorporateidentitynumber.

Hasildaripadapenambahbaikanberterusanyangdibuatkeatas lamanwebKWSP,myEPF telahmenerimapenarafan5-Bintangdandibariskandikalangan10lamanwebterbaikdaripada1,155portaldan lamanwebkerajaanolehBadanPenilaian Laman Web dan Portal Kerajaan Malaysia(MGPWA).

Seiring dengan matlamat KWSP untuk meningkatkanpengalamankhidmatpelanggan,KWSPtelahmemperkenalkanbeberapa platform teknologi baru. Antaranya ialah KiosPembayaran Caruman bagi memudahkan pembayarancarumanmelalui cek selepaswaktu pejabat; versi telefonbimbit bagi laman web myEPF untuk pengguna telefonpintar; dan kemudahan MyCoID yang memudahkanpendaftaran majikan dengan menggunakan nomborpengenalankorporattunggal.




In2010,theEPFjoinedtherealmofsocialmediatoreachouttoalargerandbroaderrangeofaudiences. To leverage quick, accessible information exchange, we leveraged the “KumpulanWangSimpananPekerja”Facebookpageand“KWSPBuzz”ontheTwitterplatform.Bytheendof2011, thenumberofEPF friendshad increasedby466percent from15,594 friends in2010 to88,305friendsin2011indicatingthatoursocialmediaeffortsarehelpingustoinfluenceaudiencesandbuildtrustwiththem.

Tobroadenourreachandoffercustomersvalueaddedservices,wecontinuedtoplaceEPFKiosksatnewthirdpartyandpubliclocationsaswellasextendedtheoperatinghoursofthesekiosks.WealsoexpandedourMobileTeamservicebyintroducingaMobileTeamuniteachinJohorandPulauPinangasidefromourexistingunitsinSabah,SarawakandtheKlangValley.TheyearalsosawEPF Limbang Branch undergoing upgrading while our branches in Bayan Baru, Klang, KualaSelangor, Kemaman and GuaMusangwere relocated to new and bigger, strategically locatedpremisestooffermembersgreaterconvenienceandaccessibility.Goingforward,wewillcontinuetoexploreotherviablemeans toaddvalue toourcustomersandelevate thecustomerserviceexperience.

Evenasenhancedprocesses,systemsand facilityupgradesarehelping to improve theoveralleffectivenessoftheEPF,wearealsoundertakingmeasurestofurtherimproveourservicequality.Toinculcateacustomerserviceculturethroughouttheorganisation,wehavebeenimplementingorganisation-widetrainingandawarenessprogrammeswithanemphasisonsoftskillstraining.Tothisend,theEPFInstituteandoure-LearningPortalplayedanintegralpartin2011’speopledevelopmentefforts.

Pada2010,KWSPtelahmenyertaialammediasosialuntukmendekatikhalayakyanglebihramaidan luas. Bagi memanfaatkan pertukaran maklumat yang pantas dan mudah diakses, KWSPmengguna pakai halaman Facebook “Kumpulan Wang Simpanan Pekerja” serta “KWSPBuzz”menerusiplatformTwitter.Menjelangakhirtahun2011,bilanganrakanKWSPtelahbertambahsebanyak466peratusdari15,594pada2010kepada88,305pada2011.InimenunjukkanbahawausahaKWSPmenerusimediasosialtelahmembantumempengaruhiorangramaidanmembinakepercayaanmereka.

Demimemperluaskanjangkauandanmenawarkannilaitambahperkhidmatanpelanggan,kamiterusmenempatkanKiosKWSPdilokasipihakketigadanlokasiawamyangbaharudisampingmelanjutkanwaktuoperasidikios-kiosini.KWSPjugatelahmemperluaskankhidmatmobile team denganmemperkenalkanunitmobile teamsetiapsatudiJohordanPulauPinangselaindaripadaunityangsediaadadiSabah,SarawakdanLembahKlang.TahuninijugamenyaksikanCawanganKWSPdiLimbangmenjalaniprosesnaiktarafmanakalacawangandiBayanBaru,Klang,KualaSelangor,KemamandanGuaMusangtelahdipindahkankelokasibaharudanlebihbesarditempatyangstrategikbagimemudahkanahlimengunjungiKWSP.Dalammelangkahkehadapan,kamiakan terusmeneroka kaedah-kaedah lain yang berdayamaju demimemberikan nilai tambahkepadapelanggankamidanmeningkatkanpengalamankhidmatpelanggan.

Meskipun usaha meningkatkan proses dan sistem serta menaik taraf kemudahan membantumenambahbaikkeberkesananKWSPsecarakeseluruhan,kamiturutmengambillangkahlanjutuntukmenambahbaikkualitiperkhidmatan.Bagimemupukbudayakhidmatpelanggandiseluruhorganisasi,kami telah melaksanakan program latihan dan kesedaran dengan penekanan terhadap latihankemahiraninsaniah(soft skills).Berteraskanmatlamatini,InstitutKWSPsertaPortale-Learningkamitelahmemainkanperananpentingdalamusahapembangunaninsanpadatahun2011.



INITIATIVES ENHANCED

Overthecourseof2011,weimplementedvariouschangestoexistingfacilities.Asof1January2011,wehavedoneawaywith the maximum contribution limit for the VoluntaryContribution facility and 1Malaysia Retirement SavingsScheme. As such, contribution payments of more thanRM5,000forbothfacilitiesarenowallowedwhileaminimumpaymentofRM50remains.

In thewayofemployeecontributions,commencingwith theJanuary2011wage,thecontributionrateforemployeeswasincreasedto11percentfrom8percent.Previously,amidst2009’sweakeconomicenvironment,employeeshadtheoptionofreducingtheirmonthlystatutorycontributionratefrom11percentto8percentsoastohavemoredisposableincome.

Effective11April2011,membersmakingwithdrawalsundertheAge50,Age55andSavingsExceedingRM1Million,nolongerneedtosubmittheKWSP9WithdrawalFormorcopiesofothersupportingdocumentsiftheypresentthemselvesatthe counters. Under the EPF ‘Hassle-Free Withdrawals’initiative,theyonlyneedtopresenttheirMyKadtogetherwiththeirbankaccountbooksorbankstatementsandhavetheirthumbprintsauthenticated.Theseimprovements,whichaimto expedite OTC withdrawal applications for these specificcategories,helpedreducethetimetakentoprocess,approveandcreditwithdrawalamounts,whichledtoa13.25percentincreaseinapprovalsin2011.

On15July2011,thelistofapprovedcriticalillnessesundertheHealthWithdrawalinitiativewasexpandedfrom39typesof critical illnesses to 55 types, including three types ofmentalconditions.Theenhancementalsocoveredapprovalsfor the purchase of life support equipment for selectedcritical illnesses. These improvements led to a smootherapprovalprocesswithadecline in thenumberofdeferredapplications.Byendof2011,approximately4,458applicationswereapprovedundertheenhancementstothiswithdrawal.

INISIATIF DIPERTINGKATKAN

Sepanjangtahun2011,KWSPtelahmelaksanakanpelbagaiperubahan kepada kemudahan sedia ada. Pada 1 Januari2011,KWSPtelahmemansuhkanhadcarumanmaksimumbagi kemudahan Caruman Sukarela dan Skim SimpananPersaraan 1Malaysia. Justeru, bayaran caruman melebihiRM5,000 bagi kedua-dua kemudahan ini kini dibenarkanmanakalabayaranminimumRM50dikekalkan.

Darisegicarumanpekerjapula,bermuladenganbayarangajibagi Januari 2011, kadar caruman untuk pekerja telahdinaikkankepada11peratusdaripada8peratus.Sebelumini,berlatarkanpersekitaranekonomi2009yanglembap,pekerjadiberipilihanuntukmengurangkankadarcarumanberkanunbulanan mereka dari 11 peratus kepada 8 peratus agarmerekamempunyailebihbanyakpendapatanbolehguna.

Berkuatkuasa 11 April 2011, ahli-ahli yang membuatpengeluaran di bawah Umur 50, Umur 55 dan SimpananMelebihiRM1Juta,tidaklagiperlumengemukakanBorangPengeluaranKWSP9atausalinandokumensokonganyanglain sekiranya mereka hadir sendiri di kaunter. Di bawahinisiatif ‘Pengeluaran Mudah’ KWSP, mereka hanya perlumengemukakan MyKad berserta buku akaun bank ataupenyatabankdanmendapatkanpengesahanuntukcap ibujari mereka. Penambahbaikan ini yang bertujuanmempercepatkanpermohonanpengeluaranmelaluikaunteruntukkategorikhususini,membantumengurangkanmasadiambil untuk memproses, melulus dan mengkreditkanamaun pengeluaran, yang membolehkan peningkatankelulusansebanyak13.25peratuspada2011.

Mulai15Julai2011,senaraipenyakitkritikaldibawahinisiatifPengeluaranKesihatantelahditambahdari39jenispenyakitkritikalkepada55jenis,termasuktigajenispenyakitmental.Peningkatan ini turut meliputi kelulusan untuk membeliperalatanbantuanhayatuntukpenyakitkritikalyangterpilih.Penambahbaikaninitelahmemperlihatkanproseskelulusanyang lebih lancar dengan pengurangan dalam bilanganpermohonan tertunggak. Menjelang akhir 2011, kira-kira4,458permohonantelahdiluluskanmelaluipenambahbaikanterhadappengeluaranini.




CREDIBLE INVESTMENT PERFORMANCE

2011’s investmentenvironmentproved tobeachallengingonefortheEPF.Inthefirsthalfoftheyear,buoyantequitymarketsencouragedbyaflushofmarketliquidityprovidedexcellent opportunities for the EPF to capitalise on gains.However, in the third quarter of 2011, the equitymarketsexperienced heavy selling pressure in reaction to thedowngradingoftheUSratingaswellasdeepeningconcernsabouttheEurozonedebtcrisis.Throughouttheremainderoftheyear,themarketcontinuedtoremainvolatile.

Despite the year’s erratic market conditions, we madecredible strides forwardon the investment front. Year-on-yearourgrossinvestmentincomeincreased13.18percentor RM3.17 billion fromRM24.06 billion to RM27.24 billion.OurinvestmentportfolioyieldedanROIrateof6.67percentmaintainingthemomentumoftheprecedingyear’sROIrateof6.41percent. It isalsothehighestROIrecordedforthepast10years.

TheEquityportfoliowasthesinglelargestincomecontributor,generating RM13.29 billion with an ROI of 11.00 per cent.Thiswasfollowedbyfixedincomeassetsandinterest-basedinstrument portfolios which jointly contributed RM13.17billion, representing a weighted ROI of 4.94 per cent. Theremaining RM656.36 million (ROI of 3.43 per cent) andRM113.75million(ROIof6.36percent)werecontributedbyMoneyMarketInstrumentsandPropertiesrespectively.

As a retirement fund manager, long-term investmentperformanceismoreimportanttousthananysingleyear’sperformance. In executing the objectives of safeguardingandenhancingmembers’retirementsavingsvalue,theEPFaimstogenerateanannualrealdividend(inflation-adjusteddividend)ofmorethantwopercentoverthelongrun.Inthisregard,theEPFhashistoricallymanagedtoobtainaveragerealdividendsof3.97percent, 2.95percentand2.74percentfortherollingthree-year,five-yearandten-yearperiods,respectively, which meets our objective of ensuring realinflation-adjustedgrowthforourmembers’savings.

PRESTASI PELABURAN YANG BAIK

Persekitaran pelaburan pada tahun 2011 nyata amatmencabar bagi KWSP. Pada setengah tahun pertama,prestasi pasaran ekuiti yang memberangsangkan dandidorong oleh kecairan pasaran yang tinggi menyediakanpeluang yang amat baik buat KWSP untuk pengambilanuntung. Bagaimanapun, pada suku ketiga tahun 2011,pasaranekuitiberhadapandengansentimenjualansusulanreaksinegatifterhadappenurunantarafAmerikaSyarikatdisampingmeningkatnyakebimbanganterhadapkrisishutangkawasanEuro.Bakibulan-bulanberikutnya,pasarankekaltidakmenentu.

Disebalikketidaktentuanpasaran,KWSPtelahmemperolehhasilpulanganpelaburanyangmemberangsangkan.Jumlahpendapatan pelaburan kasar tahun ke tahun meningkatsebanyak 13.18 peratus atau RM3.17 bilion dari RM24.06bilion kepada RM27.24 bilion. Portfolio pelaburanmenghasilkan 6.67 peratus kadar ROI yang mana iamengekalkan momentum tahun sebelumnya pada kadar6.41peratus. Ia jugamerupakanROItertinggiyangpernahdicatatkansepanjang10tahunlalu.

Portfolio Ekuiti merupakan penyumbang pendapatanterbesar,menjanaRM13.29biliondenganROI11.00peratus.Ini diikuti oleh aset berpendapatan tetap serta portfolioinstrumenberasaskan faedah yangmenyumbangRM13.17bilion, dengan purata ROI sebanyak 4.94 peratus. BakiRM656.36 juta (ROI 3.43 peratus) dan RM113.75 juta (ROI6.36 peratus), masing-masing telah disumbangkan olehInstrumenPasaranWangdanHartanah.

Sebagaipengurusdanapersaraan,prestasipelaburandalamtempoh jangka panjang adalah lebih penting berbandingdengan prestasi bagi sesuatu tahun. Dalam memenuhiobjektif melindungi dan meningkatkan nilai simpananpersaraan ahli, KWSP mensasarkan untuk mencatatkandividen sebenar tahunan (dividen selepas mengambil kirainflasi) yang melebihi dua peratus dalam tempoh jangkapanjang.Dalamaspekini,KWSPtelahberjayamengekalkanpuratadividensebenarsebanyak3.97peratus,2.95peratusdan2.74peratus,masing-masinguntuktempohtigatahun,lima tahun dan sepuluh tahun yang memenuhi matlamatKWSP untuk memastikan pertumbuhan simpanan ahlimengatasikadarinflasi.



In line with our prudent strategy of ensuring members’savingsarewellprotected for the long term,weallocated60.79percentofour investments in lowriskfixed incomeassets and interest based instruments, namely Loans andBonds and Malaysian Government Securities. We alsoinvested35.64percent inEquitieswithintolerablelevelofrisk-returnwhiletheremaining3.18percentand0.39percent were invested in Money Market Instruments andPropertiesrespectively.

We have gradually reduced theweightage in fixed incomeinstruments,shiftingthematuringassetsintohigheryieldinginstruments, particularly equities, to reduce the impact ofthe prevailing low interest rate environment. The EPFremains fully committed to diversifying our investmentthroughreinvestingmaturingassetsandinvestmentincomeintoappropriateassetclasses.Aswedoso,wewillcontinueto keep an eye on market timing, liquidity and marketmovementswhilesimultaneouslyaligningouractivitieswithourlong-terminvestmentstrategies.

The EPF is also committed to playing a proactive role inshareholder value creation. By undertaking a number ofnotable transactions in2011,wecontinued toenhance thevalueoftheFundforthelong-term.In2011,wecarriedoutanumberofkeyinvestmenttransactions.TheseincludedtheacquisitionoffivepropertiesintheUnitedKingdombringingthetotalnumberofEPFpropertiesintheUKtoseven,andthe further capital drawdown of USD750 million in globalsukuks.Wealso injectedanadditionalUSD3.34billion intoglobalequitiesasweleveragedontheweakeningUSDollarand equity market corrections. We continue to undertakeinvestments intoglobalassets inaccordancewithourrisklimits.

SeiringdenganstrategipelaburanberhemahKWSPdalammemastikan simpanan ahli dilindungi sebaiknya untukjangkapanjang,KWSPtelahmemperuntukkan60.79peratusdaripada pelaburan di dalam pelaburan berisiko rendahseperti aset berpendapatan rendah serta instrumenberasaskan faedah, iaitu Pinjaman dan Bon dan SekuritiKerajaan Malaysia. KWSP juga telah melaburkan 35.64peratusdalamEkuitidalamtahaprisikodanpulanganyangdibenarkansementarabaki3.18peratusdan0.39peratus,masing-masingtelahdilaburkandalamInstrumenPasaranWangdanHartanah.

KWSPtelahberansur-ansurmengurangkanwajarandalaminstrumenberpendapatantetapdenganmelaburkansemulaamaun aset yang telah matang ke dalam instrumen yangmampu memberikan pulangan lebih tinggi, terutamanyaekuiti, untuk meminimumkan impak persekitaran kadarfaedahsemasayangrendah.KWSPkekalkomitedsepenuhnyadalammempelbagaikanpelaburandenganmelabursemulaasetyangtelahmatangsertapendapatanpelaburankedalamkelas aset yang bersesuaian. KWSP akan terus sentiasamemantau keadaan pasaran, kecairan dan pergerakanpasaranmanakalapadamasayangsamamenjajarkanaktivitiKWSPdenganstrategipelaburanjangkapanjang.

KWSP juga komited dalam memainkan peranan proaktifuntuk meningkatkan nilai pemegang saham. Denganmelaksanakanbeberapaurusniagapentingpada2011,kamiterusmemantapkannilaidanaKWSPuntukjangkapanjang.Pada2011,KWSP telahmenjalankanbeberapaurusniagapelaburanutama.InitermasukperolehanlimahartanahdiUnitedKingdomyangmenjadikanjumlahhartanahKWSPdiUnited Kingdom sebanyak tujuh serta penggunaan modalselanjutnya sebanyak USD750 juta dalam sukuk global.KWSP juga telah menyuntik dana tambahan sebanyakUSD3.34bilionkedalammandatekuitiglobaldalamusahamemanfaatkankeadaanDolarASyangsemakinlemahsertapembetulan pasaran ekuiti. KWSP terus melakukanpelaburandalamasetglobalmengikuthadrisikokami.




Inlinewithourtakingaproactiveroleinshareholdervaluecreation,theyearalsosawtheEPFandUEMGroupBerhadfinalisingtheacquisitionofallassetsandliabilitiesofPLUSthrough a co-investment vehicle, PLUSMalaysia Sdn Bhd(PMSB)amountingtoRM22.25billion.ThejointacquisitionofPLUS tolled highways business a key national asset,represents an opportunity to acquire amature, cash flowgenerating infrastructure asset. Matching our risk-returnprofile, itwill providememberswithstable returnsoveralong-terminvestmenthorizon.Theacquisitionalsosawthelargest global sukuk issuance of RM30.6 billion by ProjekLebuhraya Usahasama Berhad (PLUS Berhad), a whollyownedsubsidiaryofPMSB.ThisistodatethesinglelargestbondissuanceinMalaysiawiththehighestratingofAAA(IS)byMalaysianRatingCorporationBerhad.

Overthecourseof2011,ourinvestmentactivitiesattractedthe attention ofmany parties including ourmemberswhocontinuedtoprovidefeedbackonouractivities.AsthetrustfundholderforthemajorityofMalaysia’sworkingpopulation,theEPFwantstoassureallpartiesthatweremaincommittedtopreservingandaddingvaluetoourmembers’retirementsavings. This is our first priority and is governed by ourresponsibilitytoourmembers.

The EPF employs meticulous investment criteria andstringent procedures for each investment proposal. Allinvestmentdecisionsandactivitiesareanalysedandundergodetailed screening by the Management InvestmentCommittee,RiskManagementCommittee,InvestmentPanelRiskCommitteeandtheInvestmentPanelbeforewemoveforward.Weonlypassresolutionsafterevaluatinghowthesedealswillpositivelybenefitourmembers.TheEPFhasthefinancialstrengthandawideportfolioofcompanieswhichwecantaptoensurethesuccessofourprojects.

Selaras dengan peranan proaktif bagi mempertingkatkannilai pelaburannya, tahun ini juga menyaksikan KWSPbersama-sama UEM Group Berhad memuktamadkanpengambilalihan semua aset dan liabiliti PLUS menerusisyarikat pelaburan bersama, PLUS Malaysia Sdn Bhd(PMSB), yang berjumlah RM22.25 bilion. PengambilalihanperniagaanlebuhrayabertolPLUS,salahsatuasetutamanegara,merupakanpeluanguntukmemilikiasetinfrastrukturyangmatangdanmempunyaialirantunaiyangkukuh.Sesuaidengan profil risiko dan pulangan KWSP, ia diunjur akanmemberikan pulangan yang stabil bagi tempoh pelaburanjangka panjang. Pengambilalihan ini juga menyaksikanpenerbitan sukuk terbesar dunia pada nilai RM30.6 bilionolehProjekLebuhrayaUsahasamaBerhad,(PLUSBerhad),iaitu anak syarikatmilik penuh PMSB. Setakat ini, ia jugamerupakanpenerbitanbontunggalterbesardiMalaysiadanmendapatpenarafantertinggiAAA(IS)olehMalaysianRatingCorporationBerhad.

Sepanjang tahun 2011, aktiviti pelaburan KWSP telahmenarik perhatian banyak pihak termasuk ahli yang terusmemberikan maklum balas mengenai pelaburan KWSP.Sebagai pemegang amanah kepada simpanan persaraansebahagianbesarrakyatMalaysiayangbekerja,KWSPinginmemberi jaminan bahawa KWSP kekal komited dalammelindungidanmemberikannilaitambahkepadasimpananpersaraan ahli. Objektif tersebut menjadi keutamaan dantanggungjawabKWSPkepadaahli.

KWSP juga memberikan jaminan bahawa KWSPmengamalkan polisi pelaburan yang berhati-hati sertaprosedur yang ketat untuk setiap cadangan pelaburan.Semua keputusan dan aktiviti pelaburan telah diteliti danmenjalani proses saringan dan tapisan terperinci olehJawatankuasa Pengurusan Pelaburan, JawatankuasaPengurusanRisiko, JawatankuasaRisiko Panel PelaburandanPanelPelaburansebelumsesuatukeputusanmuktamaddiperoleh.KWSPhanyameluluskanresolusisetelahmenilaibagaimanasesuatupelaburaninidapatmemberikanmanfaatkepada ahli. KWSP mempunyai sumber kewangan yangteguh dan diversifikasi portfolio yang baik yang mampumenyokongperancanganpelaburannya.



EFFECTIVE CORPORATE GOVERNANCE & RISK MANAGEMENT

The Board is committed to undertaking good corporategovernanceandriskmanagementpracticesthatsafeguardstakeholders’interestsandEPF’sreputation.Weupholdthetenetsofintegrity,transparencyandaccountabilitythroughimplementing stringent internal and external controlsthroughoutouroperations.Wealsoensureethicalpracticesarecarriedoutatalllevelsofourorganisation.

In 2011, we were active in promoting various corporategovernance initiatives. Our corporate governance unitcontinuedtoengagewithregulators,institutionalinvestors,corporate governance agencies and listed companies topromote good practices in Malaysia. We also conductedawarenessprogrammeforourdirectors,InvestmentPanel,nomineedirectorsandseniormanagementtoenhancethestandardsofcorporategovernanceandinstilprofessionalismwithinourorganisation.

TheyearalsosawusimplementingaChineseWallPolicytoavoid conflicts of interest. The Chinese Wall policy andprocedure serves to safeguard insider information and toensure that no improper trading occurs. It is part of theorganisation’s internal arrangement to avoid conflict ofinterestbycontrolling,restrictingandmanagingtheflowofconfidential information within a specific department andbetweendepartments.

Inaddition,theEPFplayedhosttotheinauguralInternationalCorporate Governance network (ICGn) Conference inMalaysiainFebruary2011whichwasattendedbymorethan250 delegates from various countries.Moving forward,wewill continue to embark on more corporate governanceinitiativesaspartofouron-goingeffortstoelevateindustryskillsandawarenessoncorporategovernance.

TADBIR URUS KORPORAT & PENGURUSAN RISIKO YANG BERKESAN

LembagaKWSPkomiteddalammelaksanakan tadbiruruskorporat serta amalan pengurusan risiko yang baik bagimelindungikepentinganpemegangkepentingandanreputasiKWSP. Kami berpegang teguh kepada prinsip integriti,ketelusan dan akauntabiliti melalui pelaksanaan kawalandalaman dan luaran yang ketat di seluruh operasi kami.Kami juga memastikan amalan beretika dilaksanakan disemuaperingkatorganisasi.

Pada2011,KWSPaktifmempromosiberbagaiinisiatiftadbirurus korporat. Unit tadbir urus korporat kami terusberurusandenganpihakkawalselia,pelaburinstitusi,agensitadbir urus korporat serta syarikat tersenarai untukmenggalakkan amalan yang baik di Malaysia. Kami jugamengadakan program kesedaran untuk pengarah, PanelPelaburan, pengarah nomini dan pengurusan kanan bagimeningkatkanstandardtadbiruruskorporatdanmenyemaiprofesionalismedalamorganisasikami.

TahuninijugamemperlihatkanKWSPmelaksanakanPolisiChineseWallbagimengelakkonflikkepentingan.Dasardanprosedur Chinese Wall bertindak melindungi maklumatdalamandanmemastikantidakberlakudaganganyangtidakwajar. Ia adalah sebahagian daripada aturan dalamanorganisasi bagi mengelak konflik kepentingan denganmengawal,menyekatdanmengurusaliranmaklumatsulitdalamjabatantertentudandiantarajabatan.

Selainitu,KWSPturutmenjadituanrumahbagiPersidanganRangkaian Tadbir Urus Korporat Antarabangsa (ICGn) diMalaysia pada Februari 2011 yang telah dihadiri lebih 250delegasidaripelbagainegara.Dalammelangkahkehadapan,KWSPakanterusmelaksanakanlebihbanyakinisiatiftadbiruruskorporatsebagaisebahagiandaripadausahaberterusanuntuk meningkatkan kemahiran dan kesedaran industriterhadaptadbiruruskorporat.

Asan investor,webelieve thatgoodcorporategovernancepractices are key to attracting and retaining capitalinvestmentandensuring thesustainabilityandprofitabilityofbusinessperformance.Inlinewiththis,wewereactivelyinvolvedinprovidingfeedbackontheformulationofCorporateGovernance Blueprint 2011 to the Securities Commission(SC).Theblueprintrecognisestheimportantroleinstitutionalinvestorsplayinenhancingcorporategovernancepracticesandtheirvalueasanetworktopromotegovernancepracticesacrossinvesteecompanies.TheSChasrecommendedthatinstitutionalinvestorsworktogethertodrivetheformulationofthenewcodeandtheestablishmentofanumbrellabodyfor institutional investors.TheEPFwill lend its support totheimplementationofCorporateGovernanceBlueprint2011to allow Malaysia to take big strides forward to achieveexcellenceincorporategovernance.

The year also saw us completing the technologicalinfrastructure for our new investment trading system andframework.Thesedevelopmentsputusonparwithleadinginvestmentbanksand fundmanagersandwilldomuch tosupport our expanded global trading activities. We alsostreamlinedour custodianarrangements (relating to legalstructuresandtheriskmanagementframework)whichwillprovide added security and backroom support for all ourinvestmentactivities.

Operational risk management activities to remain a toppriorityattheEPF.In2011,wecontinuedtoundertakevariousactivitiestoenhancethelevelofinvestmentriskmanagementwithintheEPF.Theseincludedtheimplementationofannualreviews on policy, limits and non-compliance. Today, aBusinessContinuityManagementplanisinplacetoensurewe are able to minimise business disruption and recovercritical business operations in the event of an unforeseendisaster. Readers can find detailed reports on the EPFcorporategovernanceandriskmanagementbestpracticesintherespectivesectionsofthisAnnualReport.

Sebagaipelabur,kamipercayabahawaamalan tadbiruruskorporat yang baik adalah kunci dalam menarik danmengekalkan pelaburan modal serta memastikankemampanan dan keuntungan perniagaan. Sejajar denganini,KWSPterlibatsecaraaktifdalammemberikanmaklumbalasmengenaiPelanTindakanTadbirUrusKorporat2011kepada Suruhanjaya Sekuriti (SC). Pelan tindakan inimengiktiraf peranan penting yang dimainkan oleh pelaburinstitusi dalammeningkatkan amalan tadbir urus korporatdan nilai mereka sebagai sebuah rangkaian dalammenggalakkan amalan tadbir urus ke serata syarikatpenerima pelaburan. SC telah menyarankan agar pelaburinstitusibekerjasamabagimemacupenghasilankodbaharuserta penubuhan sebuah badan penaung untuk pelaburinstitusi. KWSP akan memberikan sokongan kepadapelaksanaan Rangka Tindakan Tadbir Urus Korporat 2011bagi membolehkan Malaysia melangkah maju ke hadapanuntukmencapaikecemerlangandalamtadbiruruskorporat.

Tahun ini juga menyaksikan kami menyempurnakaninfrastrukturteknologiuntuksistemdanrangkakerjaurusniagapelaburanyangbaharu.PerkembanganinimeletakkanKWSP setara dengan bank pelaburan dan pengurus danautamadanakanbanyakmembantumenyokongaktivitiurusniagaglobalkamiyangtelahdiperluaskan.Kamijugatelahmemperkemaskan urusan kustodian (berkaitan denganstruktur undang-undang dan rangka kerja pengurusanrisiko) yang akan memberikan jaminan tambahan sertasokongan belakang tabir untuk semua aktiviti pelaburankami.

Aktiviti pengurusan risiko operasi juga tetap merupakankeutamaan tertinggi di KWSP. Pada 2011, kami terusmelaksanakan berbagai aktiviti bagi meningkatkan tahappengurusan risiko pelaburan di KWSP. Ini termasukpelaksanaan kajian tahunan berkenaan dasar, had danketidakpatuhan. Kini, pelan Pengurusan KesinambunganPerniagaan telahpun tersedia untuk memastikan KWSPdapat meminimumkan gangguan perniagaan danmemulihkan operasi perniagaan yang kritikal sekiranyaberlaku bencana yang tidak diduga. Pembaca bolehmendapatkan laporan terperinci mengenai tadbir uruskorporatdanamalanterbaikpengurusanrisikoKWSPdalambahagianberkenaanLaporanTahunanini.



RESPONSIBLE CORPORATE PRACTICES

In 2011, we continued to elevate the wellbeing of thesociety through implementing education-related corporateresponsibilityinitiatives.

As part of the EPF’s efforts to forge organisationalexcellenceandestablishaqualityworkforce,wecontinuetoofferscholarshipsunderourExcellentStudentScholarshipProgramme. The scholarship programme benefitsundergraduateswho are pursuing their studies at premieruniversities abroad as well as pre-university studentsattending local colleges.Over time,wehaveexpanded thenumberofsubjectswithinthescholarshipprogrammeandtoday they include fields of study such as Economics,Investment, Finance, Accounting, Actuarial Science,Mathematics, Quantitative Analysis, Physics, Engineering,LawandInformationTechnology.

Of the 15 students awarded scholarships under the EPFExcellent Student Scholarship Programme between 2006and2011,eightofthemhavegraduatedandareworkingwiththeEPF,whiletheremainingsevenarestillpursuingtheirstudies. From 2012 onwards, we will collaborate with thePublicServiceDepartment(JPA)onthestudentintakeunderthescholarshipprogramme.

RECOGNISED FOR WORLD-CLASS PRACTICES

TheyearinreviewsawtheEPFcontinuingtoreceivevariousawardsandaccoladesforourimplementationofworld-classbest practices and global quality standards. For ourcommitment to adopting leading-edge technologies in theareaof informationsecuritymanagement, theEPFwon theIDC-EnterpriseInnovationAward2011attheCIOSummit2011and the Security Excellence Award at the Share GuideAssociationofMalaysia(SGAM)ICTAwards2011.WereceivedbothawardsforourimplementationoftheEnterpriseIdentityManagementSystemmarkinganothermilestoneinoperationalexcellencefortheEPF.Thesewinsaptlyreflecttheimportancethatweplaceontechnologyasanenabler tosafeguardtheconfidentiality, integrity and accountability of the data andinformationofmorethan13.15millionEPFmembers.

AMALAN KORPORAT YANG BERTANGGUNGJAWAB

Pada 2011, kami meneruskan usaha meningkatkankesejahteraan masyarakat dengan melaksanakan inisiatiftanggungjawabkorporatyangberkaitandenganpendidikan.

Sebagai sebahagian daripada usahaKWSP untukmenempakecemerlanganorganisasidanmewujudkantenagakerjayangberkualiti, KWSP terus menawarkan biasiswa di bawahProgramBiasiswaPelajarCemerlang.Programbiasiswa inimemberikanmanfaat kepadamahasiswa yangmelanjutkanpengajian mereka di universiti terulung luar negara sertapelajarpra-universitiyangmenuntutdikolej-kolejtempatan.DarisemasakesemasaKWSPtelahmemperluaskanbidangpengajiandibawahprogrambiasiswainidankiniiamerangkumibidangsepertiEkonomi,Pelaburan,Kewangan,Perakaunan,Sains Aktuari, Matematik, Analisis Kuantitatif, Fizik,Kejuruteraan,Undang-undangdanTeknologiMaklumat.

Daripada 15 pelajar yangdiberi biasiswadi bawahProgramBiasiswa Pelajar Cemerlang KWSP antara 2006 dan 2011,lapanpelajartelahmenamatkanpengajiandanbekerjadenganKWSP, manakala baki tujuh orang lagi masih menuntut.Bermulatahun2012danseterusnya,kamiakanbekerjasamadenganJabatanPerkhidmatanAwam(JPA)berhubungdenganpengambilanpelajardibawahprogrambiasiswaini.

DIIKTIRAF AMALAN BERTARAF DUNIA

Tahun yang dikaji menyaksikan KWSP terus menerimapelbagaianugerahdanpenghargaankeranamelaksanakanamalanterbaikbertarafduniadankualitimengikutstandardglobal. Bersandarkan komitmen kami dalam menggunapakaiteknologiterkinidalambidangpengurusankeselamatanmaklumat,KWSPtelahmemenangiiDC-enterprise innovation award 2011 di Sidang Kemuncak CIO 2011 serta security excellence awarddiMajlisAnugerahICT2011anjuranshare Guide association of malaysia (sGam).KWSPtelahmenerimakedua-dua anugerah tersebut kerana pelaksanaan SistemPengurusanIdentitiPerniagaanyangmencatatkansatulagiperistiwa penting dalam kecemerlangan operasi KWSP.Kemenangan ini menunjukkan kepentingan yang telahdiletakkan ke atas teknologi sebagai penggerak untukmelindungi kerahsiaan, integriti dan akauntabiliti data danmaklumatlebihdaripada13.15jutaahliKWSP.




TheEPFInformationSecurityManagementSystems(ISMS)servestohighlighthowseriousweareaboutimplementingglobally recognised standards in respect of informationsecurity policies and procedures. The effectiveness of theISMSwasfurtherunderscoredwhenwesuccessfullyretainedISO/IEC27001:2005certificationforthesystemfrom2010to2013. I am also pleased to announce that in linewith ourefforts toensureexcellence in the ITServiceManagementprocess, we attained ISO/IEC 20000-1:2005 certification inMarch2011.

MOVING FORWARD INTO 2012

The global economic environment in 2012 is expected toremainchallengingasdemonstratedbyaseriesofgrowthdowngradesoftheglobaleconomybymultilateralagenciesandmarket economists. This ismainly due to heighteneduncertainty globally, primarily driven by the problematicfiscal position in developed countries, in particular theEurozone. While this weak global scenario is expected toaffect Malaysia’s exports, the country is expected to besupportedbyresilientdomesticdemandandaccommodativepolicies thatwill cushion theeconomy from furtherglobalweaknesses. Potential downside risk could be from policymistakesundertakenbythepolicymakersinthedevelopedeconomies which could potentially lead to much deeperEurozone recession that will affect the US economy andChina,leadingtoasevereglobalslowdown.

As a retirement fund, the EPF’s primary objective is topreserveandenhancemember’sretirementsavings.Tothisend, we will continue to maintain a prudent and low-riskinvestmentapproach,backingthisupwiththoroughresearchandaligning itwith investmentbestpracticestosafeguardmembers’ retirement savings over the long-term. OurinvestmentstrategieswillcontinuetobebroadlyguidedbyourprudentStrategicAssetAllocation(SAA)modelwhichisanintegralpartofourbroaderriskmanagementframework.TheSAAhasbeencustom-designedtofittheEPF’sriskandreturnprofileand it serves tohelpusmaintain consistentreturnsoverthelongrunwithinthetolerablerisklimitsforeach asset class. To ensure its continued effectiveness inresponding to thecomplexitiesof themarketand theeverevolving investment landscape, we conduct regular andsystematicreviewsof theSAAincludingthecorrespondingTacticalAssetAllocation(TAA)plans.

Sistem Pengurusan Keselamatan Maklumat (ISMS) KWSPbertindak menonjolkan betapa seriusnya kami dalammelaksanakan standard yang diiktiraf di peringkat globalberhubung dengan dasar dan prosedur keselamatanmaklumat. Keberkesanan ISMS ini terus disahkan apabilakami berjaya mengekalkan pensijilan ISO/IEC 27001:2005untuk sistem tersebut dari tahun 2010 hingga 2013. SayadengansukacitanyamengumumkanbahawaseiringdenganusahakamiuntukmemastikankecemerlangandalamprosesPengurusan Perkhidmatan IT, kami telah memperolehpensijilanISO/IEC20000-1:2005padaMac2011.

MELANGKAH KE TAHUN 2012

Persekitaran ekonomi global pada 2012 dijangka kekalmencabar seperti yang diperlihatkan dalam beberapa siripenurunan jangkaan pertumbuhan ekonomi global olehpelbagai agensi serta ahli-ahli ekonomi. Keadaan inisebahagianbesarnyadisebabkanmeningkatnyaketidaktentuandi peringkat global yang didorong terutamanya olehkedudukanfiskalyangbermasalahdinegara-negaramaju,khususnya di kawasan Euro. Sungguhpun senario globalyanglemahinidijangkamemberikankesankepadaeksportMalaysia, negara dijangka akan disokong oleh permintaandomestik yang mapan serta polisi monetari yang akanmenampan ekonomi daripada kegawatan global yangselanjutnya. Risiko kegawatan boleh berpunca daripadakesilapanpolisiyangdilaksanakanolehparapembuatdasardinegara-negaramajuyangberpotensimemburukkanlagisituasikemelesetankawasanEurodanmenjejaskanekonomiAmerika Syarikat serta China, lantas menyebabkankelembapanglobalyanglebihteruk.

Sebagai sebuah dana persaraan, matlamat utama KWSPadalahuntukmemeliharadanmeningkatkannilaisimpananpersaraan ahli. Justeru, KWSP akan terus mengekalkanpendekatan pelaburan yang berhemah dan berisiko rendah,disokongolehpenyelidikandananalisisyangtelitisertaamalanpelaburan terbaik bagimelindungi simpananpersaraanahliuntuktempohjangkapanjang.StrategipelaburanKWSPakanterusberpandukanmodelAlokasiAsetStrategik (SAA) yangmerupakanbahagianpentingdalamrangkakerjapengurusanrisiko.SAAinitelahdirekakhasbagimenepatiprofilrisikodanpulangan KWSP dan ia berfungsi membantu mengekalkanpulanganyangkonsistendalamjangkapanjangdenganjulatrisiko yang bersesuaian untuk setiap kelas aset. Untukmemastikan keberkesanannya berterusan dan berpadanandengan kompleksiti pasaran serta lanskap pelaburan yangsentiasa berubah-ubah, KWSP sentiasa menyemak semulaSAA dari semasa ke semasa secara sistematik, termasukpelanAlokasiAsetTaktikal(TAA).



Going into2012, theEPFBoard foresees thatourprospectswillrestontheperformanceofboththedomesticandglobaleconomies. In view of the expected volatility in the financialmarketsthatmayaffecttheperformanceofourinvestmentsand future income, we have taken measures to protectourselves fromexternalmarket forces.Whileweexpect themajorityofourinvestmentsin2012toremaininlow-riskfixedincome instrumentswithastablestreamof income,weareready tomake tactical changes depending on themarket’sfuturecourseofdirection.

Asadefinedcontributionpensionfund,theEPFfocusesondeliveringadvancedrisk-adjustedreturnsforalonger-terminvestmenthorizon.WeanticipatepositiveinflowstotheFundforatleastthenext10yearsfrommembers’netcontributions.Given the constraints on the domestic front, the EPF willcontinuetodiversifyandexpanditsportfoliooverseaswherethepaceofassetgrowthismuchfasterwithmoreopportunitiesforportfoliodiversification.

FollowingtheGovernment’sapprovalfortheEPFtoinvestupto 23 per cent of its fund size overseas (based on thecustomised SAA model), as at December 2011, we hadinvestedabout13.37percentofourtotalinvestmentassetsglobally.Weaimtocarefullyallocateupto20percentofourtotal fund size in global investments by 2013 on a gradualbasis.Inthenearfuture,althoughourdomesticinvestmentsas a percentage of total assets will gradually reduce, theabsolute amount invested domestically will remain on theuptrend.

Aswemove forward torealiseourambitionofbecomingatrulyeffective,world-class,service-orientatedsocialsecurityorganisation,theEPFwillcontinuetostreamlineitsresourcesandstrengthenitsservicedeliveryfundamentals.Atthesametime,wewill leverage technological innovation todriveourefforts. This will enable us to meet the increasinglysophisticatedneedsofourgrowingcustomerbaseandraiseourqualitybenchmarks.Asweelevateourservicedeliveryeffortsandimplementnewstandardsofexcellence,wewillwork to maximise our return objectives within the riskappetiteframeworkthatweoperate.

Melangkah ke tahun 2012, Lembaga KWSP menjangkabahawaprospekdanprestasipelaburanKWSPakanbanyakbergantung kepada prestasi kedua-dua pasaran domestikdanglobal.Mengambilkiraketidaktentuandalampasaranyangbolehmenjejaskanprestasipelaburandanpendapatanpada masa hadapan, KWSP telah mengambil langkah-langkah sewajarnya untuk melindungi pelaburan KWSPdaripadatekananpasaran.SungguhpunKWSPmensasarkansebahagian besar daripada aset pelaburan KWSP dalamtahun 2012 akan kekal dalam instrumen berpendapatantetapyangberisikorendahdanmempunyaialiranpendapatanyang stabil, KWSP bersedia untuk membuat perubahantaktikalbergantungkepadahalatujupasaran.

Sebagai sebuah dana persaraan bercirikan caruman yangditetapkan,KWSPmemberikantumpuanuntukmenghasilkanpulangan terlaras risiko bagi tempoh pelaburan jangkapanjang. KWSP menjangkakan aliran masuk dana yangpositif untuk sekurang-kurangnya 10 tahun akan datangdaripadacarumanbersihahli.Disebabkankekangandalampasaran domestik, KWSP akan terus mempelbagai danmemperkembangkanportfoliopelaburannyakeluarnegaradimanakepesatanpertumbuhanaset adalah lebihpantasdanmampumenawarkanlebihbanyakpeluanguntuktujuanpempelbagaianporfolio.Susulan kelulusan yang diberikan Kerajaan untuk KWSPmelaburkansehingga23peratusdaripadadananyadipasaranluar negara (berdasarkan model SAA), setakat Disember2011, KWSP telah melaburkan kira-kira 13.37 peratusdaripadakeseluruhanasetpelaburandidalampasaranglobal.KWSP mensasar untuk mempertingkatkan peganganpelaburan di luar negara dengan berhati-hati secaraberperingkat sehingga 20 peratus daripada jumlah saizpelaburanmenjelang2013.Sungguhpunperatusanpelaburandomestikakanmenunjukkanpenguranganberbandingjumlahkeseluruhanasetdimasahadapan,darisegiamaun,jumlahpelaburandomestikakanterusmeningkat.

Dalam melangkah ke hadapan untuk merealisasikan visiKWSPmenjadisebuahorganisasikeselamatansosialyangefektif, bertaraf dunia dan berorientasikan perkhidmatan,KWSP akan terus memperkemaskan sumber danmemperteguhkan teras penyampaian perkhidmatannya.Padamasayangsama,KWSPakanmemanfaatkan inovasiteknologi bagi memacu usaha dan inisiatif. Ia akanmembolehkanKWSPmemenuhikeperluanpelangganyangjumlahnya semakin bertambah yang kian sofistikated danmempertingkatkan tahap kualiti perkhidmatan KWSP.Sambil memantapkan usaha penyampaian perkhidmatandanmelaksanakan standard kecemerlangan yang baharu,KWSP akan terus berusaha memaksimumkan pulanganberlandaskanprofilrangkakerjarisiko.




ACKNOWLEDGEMENTS

On behalf of the EPF Board, I wish to express my utmostappreciation to our members and stakeholders for theirunwavering support and continued confidence in ourorganisation. The year’s robust performance comes on thebackof thehardworkandsacrificesmadebyourdedicatedmanagementteamandstaff.Therecognitionandaccoladeswehavegarneredtooisowingtoourpeople’son-goingcommitmenttoexcellenceandwearedeeplyindebtedtothem.

I am also deeply grateful to our Board Members and theMembersoftheInvestmentPanelfortheirworthy insightsandwisecounselthathelpedguideusthroughyetanotherchallenging year. My sincere appreciation to the variousgovernmentagencies,inparticulartheMinistryofFinance,Bank negara Malaysia, the Ministry of Home Affairs, theSecuritiesCommissionand theCompaniesCommissionofMalaysia,fortheirsteadfastsupportandcooperation.

IwishtoputonrecordmysincereappreciationtoTuanSyedShahirSyedMohamudandEncikAhmadShahMohdZinwhohadservedasBoardmembersfrom1May2005aswellasMrAndrewLoKiannyianwhohadfaithfullyservedtheEPFsince1June1998untiltheirretirementon31May2011.Weare sincerely grateful for these gentlemen’s worthycontributions to the EPF and wish them every success intheirfutureendeavours.

PleasejoinmeinwelcomingDatukAbdulHamedHajiSepawi,EncikMohdKhalidAtan,MadamLokYimPengandMrHengHockChengtotheBoard.Wecertainlylookforwardtotheirinsightsandcontributions.

While 2012 will have its fair share of challenges andopportunities,ItrustthatallourstakeholderswillcontinuetolendustheirfirmsupportandcooperationaswecontinuetosteertheEPFforwardonitsjourneytogrowthandsuccess.Aswemoveforward,restassuredthattheEPFwillcontinueto safeguard all our stakeholders’ interests and createenduringvalueforthem.Thankyou.

PENGHARGAAN

Bagi pihak Lembaga KWSP, saya ingin menyampaikansetinggi-tinggi penghargaan kepada ahli dan pemegangkepentingandiatassokonganpadudankeyakinanmerekayangberterusankepadaKWSP.PrestasiKWSPyangteguhpada tahun ini adalah hasil kerja keras dan pengorbananyang dilakukan oleh pasukan pengurusan dan kakitangankami yang berdedikasi. Pengiktirafan dan anugerah yangdiperoleh jugaadalahbersandarkankomitmenberterusanwargakerjakamiterhadapkecemerlangandankamiamatterhutangbudikepadamereka.

Saya jugaamatberterimakasihkepadaAhliLembagadanAhliPanelPelaburanataswawasanbijakdannasihatbernasmerekayang telahmembantukitamelalui satu lagi tahunyangmencabar.Penghargaanikhlasjugadiucapkankepadapelbagai agensi kerajaan, terutamanya KementerianKewangan, Bank negara Malaysia, Kementerian Dalamnegeri, Suruhanjaya Sekuriti dan Suruhanjaya SyarikatMalaysia,atassokongandankerjasamamereka.

Saya ingin merakamkan penghargaan ikhlas kepada TuanSyedShahirSyedMohamuddanEncikAhmadShahMohdZinyangtelahberkhidmatsebagaiAhliLembagabermula1Mei2005sertaEncikAndrewLoKiannyianyangsetiaberkhidmatdengan KWSP sejak 1 Jun 1998 sehingga mereka bersarapada31Mei2011.KamibegituberterimakasihatassumbanganmerekakepadaKWSPdanmengucapkanselamatmajujayadalamsegalausahamerekadimasahadapan.

Marilah kita bersama-sama mengalu-alukan pelantikanDatukAbdulHamedHaji Sepawi, EncikMohdKhalidAtan,PuanLokYimPengsertaEncikHengHockChengkedalamLembagaKWSP.Kamiberharapmendapatsumbangandanpandanganbernasdaripadamereka.

Biarpun 2012 bakal diwarnai cabaran dan peluang, sayayakin bahawa semua pemegang kepentingan akan terusmemberikan sokongan teguh dan kerjasama sambil kitaterus mengemudi KWSP mencapai pertumbuhan dankejayaan.Dalammelangkahkehadapan,percayalahbahawaKWSPakanterusmelindungikepentingansemuapemegangkepentingan dan mewujudkan nilai berpanjangan untukmereka.Terimakasih.

TAN SRI SAMSUDIN OSMAN Pengerusi/Chairman



ulaSaN OPERaSIREVIEWOFOPERATIOnS



Despite2011’suncertainglobalmarketenvironmentandlingeringconcernsoverthesovereigndebtcrisis, theEmployeesProvidentFund (EPF)made themostof thestrongmomentumgained in theprecedingyeartodeliveranotheryearofexcellentresults.Strongbusinessfundamentals,anastuteasset investment strategy as well as enhanced operational efficiencies and service deliveryefforts helped usmeet our key performance targets and fulfil customer expectations. It ismyprivilege to present an overview of theEPF’s operations and key achievements for the year ended31December2011.

Walaupun keadaanpasaran global pada 2011 tidakmenentu dan kebimbanganberterusan ke ataskrisis hutang kerajaan asing, KWSPmemperolehmomentum yang kuat pada tahun sebelumnyauntukmenghasilkansatulagitahunyangcemerlang.Fundamentalperniagaanyangkukuh,strategiaset pelaburan yang bijak serta peningkatan kecekapan operasi dan penyampaian perkhidmatanmembantumemastikanKWSPmencapaiprestasisasaranutamadanmemenuhikehendakpelanggan.SayaberbanggauntukmembentangkangambarankeseluruhanoperasidanpencapaianutamaKWSPbagitahunberakhir31Disember2011.

ULASAN OPERASIReVieW oF oPeRations

Kami menunjukkan pretasi pelaburan yang cemerlang melalui strategi pelaburan berhemah dan bersifat jangka panjang untuk mengoptimumkan pulangan pelaburan

Weturnedinacredibleinvestmentperformancesuccessfullyleveragingonourlong-termandprudentinvestmentstrategiestooptimiseourReturnonInvestment

“

“


2011 OPERATING ENVIRONMENT

2011sawtheglobaleconomyregisteringarelativelyweakerperformanceincomparisontotheprecedingyear,withtheInternational Monetary Fund (IMF) in its World EconomicOutlook (Update, January 2012) estimating that globalGDPwillgrowat3.8percent in2011 (2010:5.2percent).The end of a strong inventory cycle rebound, continuousfiscal consolidation, supply chain disruption followingthe earthquake and tsunami in Japan together with theunprecedented political turmoil in the Middle East andnorth Africa had adversely affected growth. Meanwhile,the uncertainties surrounding the developed economiestranslatedintoanextremelyvolatileglobalfinancialmarketduring the year. The heightened uncertainty also led toinvestorsmaintaining theirposition insafehavens like theUSTreasury papers, causingbond yields to remain at lowlevels.

PERSEKITARAN OPERASI 2011

Tahun 2011 menyaksikan ekonomi global mencatatkanprestasi yang agak lemah berbanding tahun sebelumnya.Tabung Kewangan Antarabangsa (IMF) dalam TinjauanEkonomi Dunia yang dikemaskini (Januari 2012)menganggarkan Keluaran Dalam negara Kasar (KDnK)globalakantumbuh3.8peratuspada2011(2010:5.2peratus).Pemulihan kitaran inventori yang teguh, konsolidasi fiskalyangberterusan,bekalantergendalaberikutangempabumidan tsunami di Jepun ditambah dengan kemelut politik diTimurTengahdanAfrikaUtaratelahmemberikesankepadapertumbuhan ekonomi. Sementara itu ketidaktentuanmenyelubungiekonomimajumenjadikanpasarankewanganglobalsangattidakmenentupadatahunini.Ketidaktentuanjugamenyebabkanpelaburkekalmelaburdalamasetyangselamat seperti kertas Perbendaharaan Amerika Syarikatdanmenyebabkan kadar hasil bon kekal pada tahap yangrendah.

PRESTASI EKONOMIECONOMICPERFORMANCE




PRESTASI EKONOMIECONOMICPERFORMANCE


OntheMalaysianfront,economicgrowthmoderatedin1H11,expandingby4.7percent(1H10:9.5percent),primarilydueto thehighbaseeffect in theprecedingyear,moderation ininvestment,coupledwithaslowdowninexports.nonetheless,domestic demand remained relatively robust, supported byboththepublicandprivatesectorsconsumptions.Meanwhile,economic expansion continued in the second half of 2011(2H11) with stronger momentum, underpinned partly bygovernmentfiscalexpansionandresilientexportperformance.ThissawrealGDPexpandingby5.5percentin2H11.Theyear2011alsosawtheexecutionoftheEconomicTransformationProgramme(ETP)yieldingpositiveresults,withanestimatedRM15billionwasrealisedin2011.Allsectorsoftheeconomy,with theexceptionofmining,postedpositivegrowth for theyear.For thewholeof2011, theMalaysiaeconomygrewby5.1per cent compared to7.2per centgrowth registered in2010, with private consumption continuing to be the maindriverofgrowth.

Flush liquidity following the unconventional monetarymeasuresundertakenbythedevelopedeconomies,relativelystrongeconomicfundamentals,togetherwithpositiveinterestratedifferentialshaveattractedmassivecapitalinflowsintotheAsianregionespeciallypriortothereneweduncertaintyin the advanced economies. In Malaysia, the averagebenchmark yields for government securities remainedsuppressedincomparisontotheirhistoricalspreadwiththeOPR,whiletheKualaLumpurCompositeIndex(KLCI)hitanewrecordhighinJuly2011.Amidstthisbackdrop,theRinggitcontinuedtoshowsomestrengthagainsttheUSD,reachingitsstrongestlevelagainsttheUSDsincethe1997/98AsianFinancialCrisis inJuly2011.However,Malaysia’sdebtandequitymarketwasnotsparedfromarisingvolatilityinglobalfinancialmarket, following heightened uncertainty in Euroarea,aswellasdysfunctionalUSdemocracyindealingwithitsmassivepublicdebt.ARM23.3billionaccumulationofnetoutflowsrecorded in themonthsofAugustandSeptember2011,althoughthiswasproventobetemporary.

Malaysiaweatheredaveryrough2011,astheeconomywasimpacted by the negative spill over effect from developedmarkets channelling into the country, although severalfactors had helped to shelter it from theworst. All in all,Malaysiaended2011onagoodnotewithactualGDPgrowthcameinwithinthegovernment’sforecast.ThisputsMalaysiaon track to achieve its vision of transforming itself into adeveloped,high-incomenationby2020.

DiMalaysia,pertumbuhanekonomibergeraksederhanapadasetengah tahun pertama 2011 (S1 2011), berkembangsebanyak 4.7 peratus (S1 2010: 9.5 peratus), sebahagianbesarnyadisebabkanolehkesanasasyangtinggipadatahunsebelumnya, penyederhanaan aktiviti pembangunan, disamping penurunan dalam eksport. Sungguhpun begitu,permintaandomestiksecararelatifnyakekalberdayatahan,disokong oleh perbelanjaan kedua-dua sektor awam dansektor swasta. Sementara itu, perkembangan ekonomiberterusan pada suku tahun kedua 2011 (S2 2011) denganmomentum yang lebih mantap, yang mana sebahagiannyadisokongolehperkembanganfiskalkerajaan,sertaprestasieksport yang berdaya tahan. Ini membolehkan KDnKberkembang 5.5 peratus pada S2 2011. Tahun 2011 turutmenyaksikan pelaksanaan Program Transformasi Ekonomi(ETP) telahmemberikanpulanganhasilyangpositifdenganjangkaanRM15biliontelahdirealisasikandalamtahun2011.Semua sektor ekonomi kecuali perlombongan telahmenunjukkanpertumbuhanpositifpadatahunini.Sepanjang2011,ekonomiMalaysia tumbuh5.1peratusberbanding7.2peratus dicatatkan pada 2010 dengan penggunaan swastaterusmenjadipemacuutama.

Mudahtunaiyangmelonjakekorandaripadadasarmonetariyang tidak konvensional di negaramaju, asas yang kukuhbersamaperbezaankadarfaedahpositiftelahmenarikaliranmasuk modal besar-besaran ke rantau Asia terutamanyasebelum berlaku ketidaktentuan dalam ekonomi maju. DiMalaysia tanda aras purata untuk hasil sekuriti kerajaankekal tertekan berbanding dengan rekod OPR manakalaIndeks Komposit Kuala Lumpurmencecah rekod tertinggibarupadaJulai2011.Berlatarkankeadaanini,Ringgitterusmempamerkan kedudukan paling kukuh berbanding USDsejak Krisis Kewangan Asia 1997/98, pada Julai 2011.PasaranekuitidanhutangMalaysiatidakterkecualidaripadapeningkatan turun naik pasaran kewangan dunia, ekoranketidaktentuanyangmemuncakdi zonEropah,di sampingkegagalan sistem demokrasi di Amerika Syarikat untukberfungsi bagimenanganimasalah hutang awamnya yangbesar. Aliran keluar bersih terkumpul sebanyak RM23.3bilion dicatatkan pada bulan Ogos dan September 2011,tetapiiniterbuktihanyabersifatsementara.

Malaysiatelahmengharungitahun2011yangamatmencabar,di mana ekonomi menghadapi tekanan daripada pasaranmaju yang melimpah ke dalam negara, namun beberapafaktor telah membantu melindunginya daripada situasipaling teruk.Secarakeseluruhannya,Malaysiamengakhiritahun 2011 dengan baik dimana Keluaran Dalam negaraKasar (KDnK) selaras dengan ramalan kerajaan. InimeletakkanMalaysiadilandasanyangbetuluntukmencapaivisimenjadi negaramaju berpendapatan tinggimenjelang2020.


INVESTMENT ACTIVITIES IN 2011

In 2011, the investment environment continued to be achallengingandaneventfulonefortheEPF.AmidstMiddleEasttensionsthatresultedintheArabSpring,aswellasthefalloutfromtheJapaneseearthquakeandtsunami,thefirsthalf of 2011 saw buoyant equitymarkets encouraged by aflushofmarketliquiditythatprovidedexcellentopportunitiesfor the EPF to capitalise on gains. However, in the thirdquarterof2011,boththedomesticandglobalequitymarketscameunderheavysellingpressureasinvestorsrespondednegativelytothedowngradingoftheUSratingbyStandard&Poor’saswellasdeepeningconcernsabouttheEuro-zonedebtcrisis.

Despite the global economic uncertainties and volatilemarkets, 2011 was a year of sound accomplishment fortheEPF.We turned inacredible investmentperformance,successfully leveraging on our long-term and prudentinvestmentstrategiestooptimiseourReturnonInvestment(ROI)andexploremorelucrativeinvestmentprospects.Asaresult,wedeliveredaROIrateof6.67percent,maintainingthemomentumoflastyear’s6.41percentrateofreturn.

In2010,EPFwasplacedasthefifthlargestsovereignpensionfund in theworldandthe third in theAsianregion,behindJapan and SouthKorea. In 2011,we continued to registerhealthyinvestmentassetgrowthof6.52percentorRM28.70billiontoRM469.22billionincomparisontoRM440.52billionin2010,despitetheequitymarketdownturninthesecondhalfoftheyear.ThiswasmainlyattributabletotheencouraginginvestmentearningsontopofthepositivenetcontributionsfromEPFmembersandemployers.With2011’sassetsizegrowth, theEPF is expected to remain among theworld’slargestsovereignpensionfundsintermsofassetsize.

PRESTASI PELABURANINVESTMENTPERFORMANCE

AKTIVITI PELABURAN PADA 2011

Persekitaranpelaburanyangtidakmenentusertaberlakunyapelbagai peristiwa yang memberi implikasi kepada duniakewanganmerupakancabaranbuatKWSPpadatahun2011.Setengah tahun pertama 2011 memperlihatkan suasanapasaran ekuiti yang memberangsangkan walaupun duniadikejutkandenganketeganganyangtercetusdiTimurTengahserta bencana alam yang melanda Jepun. Tahap kecairanpasaran dalam tempoh tersebut membolehkan KWSPmelaksanakanaktivitipengambilanuntung.Bagaimanapun,pada suku tahun ketiga 2011, kedua-dua pasaran ekuitidomestik dan global telah dipengaruhi oleh sentimenjualanyangkuatolehpelabursusulandaripadapenurunantaraf kreditAmerikaSyarikat olehStandard&Poor’s sertapeningkatan tahap kebimbangan terhadap krisis hutangkawasanEuro.

Sungguhpun diselubungi ketidaktentuan pada ekonomidan pasaran dunia, KWSP berjaya mencatat pencapaianyang kukuh pada tahun 2011. KWSP mempamerkanprestasi pelaburan yang cemerlang melalui strategipelaburan berhemahdan bersifat jangka panjang di dalammengoptimumkanpulangan serta terusmenerokapeluangpelaburanyangmenguntungkan.Hasilnya,KWSPmerekodkankadarpulangankeataspelaburansebanyak6.67peratusdanmengekalkanmomentumtahunsebelumnya,6.41peratus.

Padatahun2010,KWSPmerupakandanapersaraannasionalkelimaterbesardiduniadanketigadi rantauAsia,selepasJepun dan Korea Selatan. Tahun 2011menyaksikan KWSPterusmencatatkanpertumbuhanasetpelaburanyangkukuhsebanyak6.52peratusatauRM28.70bilionkepadaRM469.22bilion berbanding RM440.52 bilion pada tahun sebelumnyawalaupunpasaranekuitimenyusutpadaenambulanterakhirtahun 2011. Selain daripada penerimaan jumlah carumanbersihpekerjadanmajikanyangpositif,pertumbuhansaizasetpelaburan turut disumbangkan oleh pendapatan pelaburanyang memberangsangkan. Berdasarkan pertumbuhantersebut,KWSPdijangkaakanterusberadadikalangandanapersaraanterbesardidunia.





Inlinewithourfocusondeliveringrisk-adjustedreturnsforthelong-term,2011sawusmaintainingthebulkofourinvestmentassetsinstableandlowriskfixedincomeinstrumentswithLoansandBondsat34.24percentandMalaysianGovernmentSecurities(MGS)at26.55percent.Withintolerableriskexposure,Equitiesrepresented35.64percentoftotalassetswhiletheremaining3.18percentand0.39percentwereallocatedfortheMoneyMarketInstrumentsandPropertiesassetclasses,respectively.

2011assetallocationshowsasignificanttransitionfromourposition10yearsagowhenweallocated37.02percentinMGS,followedby24.27percentinLoansandBonds,22.01percentinEquities,15.99percentinMoneyMarketInstrumentsand0.71percentinProperties.Inviewofthedeclininginterestratesoverthelastdecades,theEPFhasgraduallyshiftedfrominvestingintraditionalMGSandincreasedtheinvestmentportioninhigheryieldinginstruments,particularlyEquity.Exceptfor theMoneyMarket Instrumentsassetclass thatwasminimisedtooptimiseoverallreturns, theamount foreachassetclasshasshownconsistentandpositivegrowthovertheyears.Overall,theEPFexperiencedmassiveassetsizegrowthofRM284.65billioninjustoveradecadefromRM184.57billionin2001toRM469.22billionin2011.

SelarasdenganfokusKWSPdidalammenjanapulanganjangkapanjangyangstabilsetelahmengambilkirarisiko,KWSPmasihmengekalkansebahagianbesarpelaburandidalaminstrumenberpendapatantetapdimana34.24peratusdidalamPinjamandanBonserta26.55peratusdidalamSekuritiKerajaanMalaysia(SKM)padatahun2011.Sejajardenganpendedahanrisikoyangdibenarkan,35.64peratusdaripadajumlahasetadalahdidalampelaburanEkuitimanakalabaki3.18peratusdan0.39peratusmasing-masingdilaburkandidalamkelasasetInstrumenPasaranWangdanHartanah.

Alokasi Aset pada tahun 2011 memperlihatkan peralihan yang signifikan berbanding kedudukan pelaburan KWSP pada10 tahunyang laludimana37.02peratusadalahdidalamSKM,diikutiPinjamandanBonsebanyak24.27peratus,22.01peratusEkuiti,15.99peratusInstrumenPasaranWangdan0.71peratuspelaburanHartanah.Mengambilkirakadarfaedahyangmenunjukkan penurunan sejak sedekad lalu, KWSP beransur-ansur beralih daripada pelaburan tradisional denganmeningkatkanlagipendedahandidalampelaburanyangmempunyaikadarpulanganyanglebihtinggiterutamanyaEkuiti.KesemuakelasasetkecualiInstrumenPasaranWangmemperlihatkanpertumbuhanyangkonsistendanpositifdaritahunke tahun. Pegangan di dalam kelas aset Instrumen Pasaran Wang dikurangkan bagi tujuan mengoptimumkan potensipulanganpelaburanKWSP.Secarakeseluruhan,asetpelaburanKWSPtelahmengalamipertumbuhanyangbesarsebanyakRM284.65biliondalamjangkamasasedekadkepadaRM469.22bilionsetakatakhirtahun2011berbandingRM184.57bilionpadatahun2001.

JUMLAH ASET PELABURAN/TOTAL INVESTMENT ASSETS




In 2011, we accomplished a number of notable transactionsthatenhancedthevalueoftheFundovertime.Amongtheyear’skey investment transactions were the acquisition of fiveproperties in theUnitedKingdom(UK)atacombinedcostof£693.47million.ThisbringsthetotalnumberofEPFpropertiesin theUK to seven. Other key transactionswere the furthercapitaldrawdownofUSD750millioninGlobalSukukinvestmentsandgradualadditionalinjectionofUSD3.34billionintoGlobalEquitiesasamovetoleverageontheweakeningUSDollarandequitymarketcorrectionsespeciallyduringthelows.

Inaddition,theEPFtogetherwithUEMGroupBhdcompletedtheacquisitionofallassetsandliabilitiesofPLUSExpresswayBhd through co-investment vehiclePLUSMalaysiaSdnBhd.Thisjointacquisitionofthetolledhighwaysbusiness,anationalkey asset, provides a mature, cash-flow generatinginfrastructureassetwithanattractiverisk-returnprofile.Thisdeal, whichmatches the EPF’s risk and return profile as aprovidentfund,willprovidememberswithstablereturnsoveralong-terminvestmenthorizon.

As at end 2011, the positive inflow ofmembers’ annual netcontributionsbroughtinRM13.90billiontotheEPF.Weremainfullycommittedtodiversifyingthisnewmoneyinflowaswellas reinvesting maturing assets and investment income intoappropriate asset classes within tolerable level of risk tooptimise returns. While doing so, we will work to sustain asmooth asset transition, take into consideration liquidity andmarketmovements,aswellassimultaneouslyalignthiswithourlong-terminvestmentstrategies.

Dalamtahun2011,KWSPberjayamenyempurnakanbeberapaurus niaga penting yang mampu meningkatkan lagi nilaipelaburan KWSP pada masa hadapan. Antara transaksipelaburan utama tahun 2011 yang dilaksanakan adalahpembelian lima hartanah di United Kingdom (UK) yangmelibatkan kos £693.47 juta menjadikan jumlah hartanahKWSP di United Kingdom sebanyak tujuh. Transaksi laintermasuksuntikandanatambahanberjumlahUSD750jutadidalampelaburanSukukGlobaldansuntikandanatambahanberjumlahUSD3.34bilionkedalampelaburanEkuitiGlobal,memanfaatkankadarpertukaranDolarASyangrendahdanpembetulanpasaranekuiti.

Selain itu, KWSP bersama-sama dengan UEM Group BhdtelahmenyempurnakanpengambilalihankesemuaasetdanliabilitiPLUSExpresswayBhdmenerusisyarikatpelaburanbersamaPLUSMalaysiaSdnBhd.Pengambilalihanbersamaperniagaan lebuh raya bertol ini, yang merupakan asetpenting negara, menyediakan aset infrastruktur penjanaalirantunaiyangmatangdenganprofilrisikopulanganyangmenarik.Urusniagaini,berpadanandenganprofilrisikodanpulanganKWSP,dijangkaakanmemberiahlipulanganyangstabilbagitempohpelaburanjangkapanjang.

Padapenghujung tahun2011,aliranmasukpositifdaripadacarumantahunanbersihahliadalahsebanyakRM13.90bilion.KWSP kekal komited sepenuhnya dalam mempelbagaikanpelaburankeatascarumanbaruyangditerimainidisampingmelaburkan semula kedua-dua aset yang matang danpendapatanpelaburan yangdiperoleh, ke dalamkelas asetpelaburan tertentu mengikut tahap risiko yang dibenarkanbagimengoptimumkanpulangan.Dalammelaksanakannya,KWSP akan berusaha agar proses peralihan aset berjalanlancar dengan mempertimbangkan tahap kecairan danpergerakanpasaran,di sampingmenyelaraskannyadenganstrategipelaburanjangkapanjang.


SekuritiKerajaanMalaysia/MalaysianGovernmentSecurities

PinjamandanBon/LoansandBonds

Ekuiti/Equity

InstrumenPasaranWang/MoneyMarketInstruments

Hartanah/Properties




INVESTMENT INCOME IN 2011

In 2011, we achieved total gross investment income ofRM27.24billionas compared toRM24.06billion in 2010, agrowth of 13.18 per cent year-on-year. This achievementwasa consequenceof ourastuteasset allocationstrategyand long-term investment objectives of preserving andaddingvaluetothemembers’savingsduringandfollowingtheglobalfinancialcrisisandcycles.Ontopofthis,incisivetradingstrategywithinourEquityportfoliohelpedusdeliverastrongerperformance.

TheEquity portfoliowas the largest contributor of incomegenerating48.81percentoftheyear’sincome,followedbyLoansandBondsandMGScontributing27.68percentand20.67 per cent of income respectively. Money MarketInstruments and Properties contributed another 2.41 percentand0.42percentrespectively,whilethebalance0.01percentorRM1.66millionwasderivedfrommiscellaneousinvestmentincome.

Being a long-term retirement fund manager, long-terminvestmentperformance ismore important tous thananysingle year’s performance which will vary greatly. Inexecuting the objectives of safeguarding and enhancingmembers’ retirement savings value, the EPF aims togenerateanannualrealdividend(inflation-adjusteddividend)ofmorethan2percentoverthelongrun.Inthisregard,theEPFhashistoricallymanagedtoobtainaveragerealdividendsof3.97percent,2.95percentand2.74percentforrollingthree-year,five-yearandten-yearperiods,respectively.

PENDAPATAN PELABURAN PADA 2011

Bagi tahun 2011, KWSP berjaya memperoleh jumlahpendapatan pelaburan kasar berjumlah RM27.24 bilionberbanding RM24.06 bilion pada tahun sebelumnya,peningkatansebanyak13.18peratus.Pencapaianiniadalahhasil daripada strategi alokasi asetKWSP yang berhemahdanselarasdenganobjektifpelaburanjangkapanjanguntukmemeliharadanmenambahnilaisimpananahlisemasadanselepas krisis kewangan global. Selain itu, aktivitipengambilan untung oleh portfolio Ekuiti telahmembantuKWSPdalammencatatprestasiyanglebihteguh.

PortfolioEkuitimerupakanpenyumbangutamakepadajumlahpendapatanpelaburanKWSPdengan48.81peratus,diikutiolehPinjamandanBon sertaSKM,masing-masingmenyumbang27.68peratusdan20.67peratus.InstrumenPasaranWangdanHartanah pula, masing-masing menyumbang kepada 2.41peratusdan0.42peratus,danbaki0.01peratusatauRM1.66jutaadalahhasildaripadapendapatanpelaburanpelbagai.

Sebagai pengurus dana persaraan, prestasi pelaburanjangka panjang adalah lebih penting kepada KWSP,berbanding dengan prestasi dalam sesuatu tahun. Dalammelaksanakanmatlamatuntukmelindungidanmeningkatkannilai simpanan persaraan ahli, KWSPmensasarkan untukmenjana dividen sebenar tahunan (dividen selepasmengambil kira inflasi)melebihi 2 peratus dalam tempohjangka panjang. Dalam hal ini, KWSP telah berjayamemperolehpuratadividensebenarsebanyak3.97peratus,2.95peratusdan2.74peratus,masing-masinguntuktempohtigatahun,limatahundansepuluhtahun.

JUMLAH PENDAPATAN KASAR/TOTAL GROSS INCOME


mil

Gross Income


MALAYSIAN GOVERNMENT SECURITIES (MGS)

Investments in Malaysian Government Securities (MGS)accounted forRM124.57billionofour total investmentsasatDecember 2011, an increase ofRM6.05 billion from theposition last year. In termsofweightage, theMGS fractionshowedaslightdecreaseto26.55percent,ascomparedto26.90percentin2010.

SEKURITI KERAJAAN MALAYSIA (SKM)

Pelaburan terkumpul di dalam Sekuriti KerajaanMalaysia(SKM)adalahberjumlahRM124.57bilionsetakatDisember2011,meningkatRM6.05biliondaripadatahunsebelumnya.Dari segiperatusan,SKMmenunjukkansedikit penurunankepada26.55peratus,berbanding26.90peratuspadatahun2010.


PELABURAN SKM/MGS INVESTMENTS

PENDAPATAN KASAR SKM/MGS GROSS INCOME


Cumulative Investments Total Assets

Gross Income

mil



This instrumentgeneratedRM5.63billion,withannualROIof4.74percentin2011.ThisannualincrementofRM330.01millionascomparedtothepreviousyear’sachievementwasintandemwithMGSassetsizegrowth.

LOANS AND BONDS

In 2011, accumulated investments in this asset class,which were mainly in long-terms loans guaranteed bythe Government or government-linked entities as well asinvestmentgradedbonds,roseby12.67percentorRM18.07billionfromRM142.61billionin2010.TheEPFparticipatedinRM24.1billionworthofnewdomesticLoansandBondsdealsthroughout2011.ThisgrowthalsoincludedaUSD750millioncapitalinjectionintoGlobalSukukmandatesviainternalandexternalmanagers.Additionally,theEPFhasalsoincreasedits investment in domestic IslamicLoansandBonds, fromRM39.12billionin2010toRM45.36billionin2011.

The Loans and Bonds portfolio recorded RM7.54 billionof investment income on the back of a steady stream ofincomeassociatedwithlowriskstofixedincomeinvestment.However,thisachievementshowedadecreasedROIrateof5.10percentinviewofthelowinterestrateenvironmentin2011.

Instrumen ini telahmenjanapendapatanberjumlahRM5.63bilion, dengan ROI tahunan sebanyak 4.74 peratus padatahun 2011. Kenaikan tahunan sebanyak RM330.01 juta ini,berbandingpencapaianpadatahunsebelumnyaadalahselarasdenganpertumbuhansaizpegangandidalaminstrumenini.

PINJAMAN DAN BON

Padatahun2011,pelaburanterkumpuldalamkelasasetini,yangmana sebahagian besarnya adalah di dalampinjamanjangka panjang yang dijamin oleh Kerajaan atau entitiberkaitankerajaansertabonbergredpelaburan,meningkat12.67peratusatauRM18.07biliondaripadaRM142.61bilionpadatahun2010.TerdapatpelaburanbaruPinjamandanBondomestik yang bernilai RM24.1 bilion dilakukan sepanjangtahun2011.Pertumbuhankelasasetinijugaadalahtermasuksuntikan modal bernilai USD750 juta ke dalam mandatSukukGlobalmelaluipengurusdanadalamandanluaran.Disamping itu, KWSP turut mempertingkatkan pelaburannyadidalamPinjamandanBonIslamik,daripadaRM39.12bilionpadatahunsebelumnyakepadaRM45.36biliondalamtahun2011.

PortfolioPinjamandanBonmencatatkanRM7.54bilionjumlahpendapatanpelaburandisokongolehaliranpendapatanyangkonsisten selaras dengan profil pelaburan yang berisikorendah. Bagaimanapun, pencapaian kadar ROI sebanyak5.10 peratus pada tahun 2011 menunjukkan penurunanberbandingtahunsebelumnyaberikutanpersekitarankadarfaedahsemasayangrendah.


PELABURAN PINJAMAN DAN BON/LOANS AND BONDS INVESTMENTS

PENDAPATAN KASAR PINJAMAN DAN BON/LOANS AND BONDS GROSS INCOME


Cumulative Investment % Total Assets Gross Income

mil


EQUITY

In 2011, the value of EPF’s Equity portfolio was shapedby volatile equity market movements worldwide. As atend 2011, the value of the EPF’s Equity portfolio stood atRM167.21 billion, showing an increase from its RM153.53billionpositionduring thepreceding year’s close.Fromaninvestmentperspective, thedrop insharepricesespeciallyduringthemarketslumpofferstheEPFgoodopportunitiestosecureattractiveandfundamentallysoundequityatalowervaluation.Inlinewiththis,therewasalsoanadditionalcapitaldrawdown of USD3.34 billion for global equity mandatesmadethroughbothinternalandexternalmanagers.

EKUITI

Sepanjang tahun 2011, nilai portfolio Ekuiti KWSP telahdipengaruhi oleh turun naik pergerakan pasaran ekuiti diseluruhdunia.SetakatDisember2011,nilaiportfolioEkuitiKWSP telah mencecah RM167.21 bilion, memperlihatkanpeningkatan daripada RM153.53 bilion semasa penutupantahun sebelumnya. Daripada perspektif pelaburan,kejatuhanhargasahamterutamanyasewaktukemerosotanpasaran telah memberi peluang yang baik kepada KWSPuntuk meningkatkan pegangan dalam saham-sahamyangmempunyai fundamental yang kukuh pada nilai yangrendah. Selaras dengan ini, terdapat tambahan suntikanmodalsebanyakUSD3.34bilionuntukmandatekuitiglobalmenerusikedua-duapengurusdalamandanluaran.


PELABURAN EKUITI/EQUITY INVESTMENTS


Cumulative Investment % Total Assets



Despite2011’svolatileEquitymarkets,theEPFmanagedtoseizegainsfromprofittakingactivities.Thesurgeinshareprices in domestic and global equitymarkets, particularlyduring the first half of 2011, along with the encouragingtrading volume that ensued, created liquidity that enabledtheEPFtocapitaliseonEquitygains.Asaresult,werealisedan annual accumulative income of RM13.29 billion fromEquityinvestments.ThisrepresentsaROIrateof11.00percent,alaudableRM2.36billionor21.56percentjumpfrom2010’sachievementofRM10.94billioninincome.ThereturnsfromtransactiondealonPLUSExpresswayBhdcontributedRM961.79millionorabout7percentoftotalEquityincomein2011.

Sungguhpun pasaran Ekuiti tidak menentu sepanjangtahun 2011, KWSP berjaya meraih hasil pulangan yangmemberangsangkan daripada aktiviti pengambilan untung.Lonjakan harga saham di dalam pasaran ekuiti domestikdan global, khususnya pada setengah tahun pertama tahun2011, serta terdapatnya kecairan untuk transaksi dagangandalamvolumyangtinggimembolehkanKWSPmemanfaatkanpeluang perolehan keuntungan modal. Hasilnya, KWSPtelahmemperoleh pendapatan terkumpul tahunan sebanyakRM13.29biliondaripadapelaburanEkuiti.InimencatatkankadarROI sebanyak11.0peratus, iaitu lonjakanRM2.36bilionatau21.56 peratus, berbanding pencapaian pendapatan sebanyakRM10.94bilionpadatahun2010.PulangandaripadaperjanjianpengambilalihanPLUSExpresswayBhdtelahmenyumbangkanRM961.79 juta atau lebih kurang 7 peratus daripada jumlahpendapatankeseluruhanEkuitipadatahun2011.


PENDAPATAN KASAR EKUITI/EQUITY GROSS INCOME


Gross Income

mil


MONEY MARKET INSTRUMENTS

Asatendof2011,thetotalMoneyMarketInstrumentsbalancestoodatRM14.94billionor3.18percentofouroverallassets.This representedadecreaseofRM9.05billionor37.73percentfrom2010’spositionofRM23.99billion.Inconsiderationof our commitment to covering members’ withdrawals,administrativeexpenditureandthedrawdownforotherassetclass investments, the EPF will always maintain sufficientcash holdings while minimising the weightage of thisinstrumentaswesetoursightsonoptimisingreturnswithbiggerallocationsinhigheryieldinginvestments.

Our Money Market Instruments portfolio collected totalincomeofRM656.36millionincomparisontotheprecedingyear’s incomeofRM703.60million.Thiswasattributable toitsreducedholdingsandrepresentsanimprovedROIrateof3.43percentforthisassetclass,ascomparedtolastyear’s3.03percent.

INSTRUMEN PASARAN WANG

Setakat penghujung tahun 2011, jumlah aset dalamInstrumenPasaranWangadalahberjumlahRM14.94bilionatau3.18peratusdaripadakeseluruhanaset.Iamenunjukkanpenurunan sebanyak RM9.05 bilion atau 37.73 peratusdaripadajumlahRM23.99bilionpadatahun2010.Disebalikkomitmen KWSP untukmemenuhi pengeluaran simpananahli,perbelanjaanpentadbiransertaalokasipelaburankelasasetyanglain,KWSPakansentiasamengekalkanpegangantunai yang mencukupi sambil meminimumkan peratusaninstrumeninidalamusahauntukmengoptimumkanpulangandenganalokasi yang lebihbesarkedalam instrumenyangmampumemberikankadarpulanganyanglebihtinggi.

Portfolio Instrumen Pasaran Wang telah mengumpulpendapatanberjumlahRM656.36juta,berbandingRM703.60jutapadatahunsebelumnya.IniselarasdenganpengurangansaizpegangandanmenunjukkanpeningkatankadarROI3.43peratus oleh instrumen ini, berbanding 3.03 peratus padatahunlalu.


PELABURAN INSTRUMEN PASARAN WANG/MONEY MARKET INSTRUMENTS INVESTMENTS

PENDAPATAN KASAR INSTRUMEN PASARAN WANG/MONEY MARKET INSTRUMENTS GROSS INCOME


Cumulative Investment % Total Assets Gross Income

mil



PROPERTIES

ThroughourPropertyinvestments,wepredominantlyfocusontheacquisitionofcommercialpropertiesandlandbanksfor development projects that offer long-term guaranteesandfavourableROI.Attheendof2011,netofdepreciation,the EPF Property investments stood at RM1.82 billion,maintainingabout0.39percentoftotalassets.

In2011,incomefrominvestmentinPropertiescontinuedtoregister growth.Rental income from this asset class grewby12.96percenttoRM113.75millionincomparisontotheincomeofRM100.70million in2010.This reflectsahigherROIrateof6.36percentforthisassetclass.

Aspartofour investmentstrategytoexploreopportunitiesandexpandourinvestmentsoverseas,wehaveacquiredfivemorebuildingsthroughout2011intheUKthroughaspecialpurposevehicle(SPV),namelyKwasaGlobal(Jersey)PtdLtd,foratotalpurchasepriceofapproximately£693million.OurinvestmentsthroughSPVswillenableustobettermanageour investmentaswellasmitigaterisksand liabilities.Wehaveundertakentheseacquisitionsatatimewhenpropertyratesoverseashavebeenonthedecline.Theseinvestmentshavealsopresenteduswiththeopportunitytodiversifyintonewandpotentiallylucrativeassetsthatoffergoodreturnsoverthelong-termwithstrongtenantcovenants.

HARTANAH

MenerusipelaburanHartanah,KWSPmemberikankeutamaankepada pemerolehan hartanah komersial serta bank tanahuntuk projek pembangunan yang menawarkan jaminanpelaburanjangkapanjangdanROIyangmemuaskan.Setakatpenghujungtahun2011,selepasmengambilkirasusutnilai,jumlahpelaburanHartanahKWSPadalahsebanyakRM1.82bilion,merangkumi0.39peratusdaripadajumlahaset.

Padatahun2011,pendapatandaripadapelaburanHartanahtelahmenunjukkanpeningkatan.Pendapatansewadaripadakelas aset ini meningkat 12.96 peratus kepada RM113.75jutaberbandingpendapatanberjumlahRM100.70jutapadatahun 2010. Ia jugamemperlihatkan kadar ROI yang lebihtinggisebanyak6.36peratusbagikelasasetini.

Sebagai sebahagian daripada strategi pelaburan untukmeneroka peluang danmemperluaskan pelaburan ke luarnegara, KWSP telah membeli lima buah bangunan lagi diUnited Kingdom sepanjang tahun 2011 menerusi syarikattujuankhas(SPV),iaituKwasaGlobal(Jersey)PtdLtd,denganhargapembelianberjumlahsekitar£693juta.

Pelaburan menerusi SPV akan membolehkan KWSPmenguruskan pelaburannya dengan lebih baik di sampingdapat mengurangkan risiko dan liabiliti. KWSP telahmelaksanakan pemerolehan ini semasa nilai hartanahluar negara mengalami kejatuhan. Pelaburan ini turutmemberikanpeluangkepadaKWSPuntukmempelbagaikanpelaburandidalamasetbaruyangberpotensimenawarkanpulangan yang baik dalam jangka masa panjang bersertawaadpenyewayangterjamin.


PELABURAN HARTANAH/PROPERTIES INVESTMENTS


Cumulative Investment % Total Assets

mil


2011alsosawtheEPF,throughsubsidiaryKWASALandSdnBhd(KWASALand),seal thesaleandpurchaseagreementwith Aset Tanah nasional Berhad (ATnB) and LembagaGetah Malaysia (LGM) for the Rubber Research Institute’sland in Sungai Buloh. KWASA Land will play the role ofmasterdeveloperforthisplannedintegratedtownshipwithits assortment of residential, commercial and industrialpropertiesaswellascomprehensivefacilitiesandamenities.This sustainable development project bodes well for theEPF’s long term investment strategy and is expected toproducetangiblebenefitsforourmembersinthefuture.TheEPF’s involvement in real estate investments viaSPVshasbeenincorporatedintotheEquityinvestmentssegment.

ACCUMULATED INVESTMENTS

AsattheendofDecember2011,totalcumulativeinvestmentsgrewbyRM28.70billionor6.52percenttoRM469.22billionincomparisontoRM440.52billionasattheendof2010.Thisrisewascontributedbythepositivenetannualcontributionsfrom themembers and employers aswell as encouraginginvestmentperformance.

ACCUMULATED ASSETS

Fortheyearunderreview,theEPF’stotalcumulativeassetsgrew by 7.10 per cent to RM477.51 billion from RM445.85billiontheyearbefore,alignedwithaccumulatedinvestmentsgrowth.

Tahun 2011 turut menyaksikan KWSP, menerusi anaksyarikatnyaKWASALandSdnBhd(KWASALand),memeteraiperjanjianjualbelidenganAsetTanahnasionalBerhad(ATnB)dan Lembaga Getah Malaysia (LGM) bagi pemilikan tanahInstitut Penyelidikan Getah di Sungai Buloh. KWASA Landakanbertindaksebagaipemajuindukperbandaranbersepaduyang terancang ini, dengan campuran hartanah kediaman,komersial dan perindustrian berserta kemudahan yangkomprehensif.ProjekpembangunanyangmampaniniadalahseiringdenganstrategipelaburanjangkapanjangKWSPdandijangkadapatmemberikanfaedahkepadaahlidimasadepan.PenglibatanKWSPdalampelaburanhartanahmenerusiSPVtelahdinyatakandidalamsegmenpelaburanEkuiti.

PELABURAN TERKUMPUL

SetakatDisember2011, jumlahpelaburanterkumpultelahmeningkat sebanyak RM28.70 bilion atau 6.52 peratuskepada RM469.22 bilion berbanding RM440.52 bilion padaakhirtahun2010.Kenaikaninidisumbangkanolehcarumantahunanbersih yangpositif daripadaahli danmajikandanpulanganpelaburanyangmenggalakkan.

ASET TERKUMPUL

Padatahunyangdiulas,jumlahasetterkumpulKWSPtelahmeningkat sebanyak 7.10 peratus kepada RM477.51 biliondaripada RM445.85 bilion pada tahun sebelumnya, sejajardenganpertumbuhanpelaburanterkumpul.


PENDAPATAN KASAR HARTANAH/PROPERTIES GROSS INCOME


Gross Income

mil



INTERNATIONAL INVESTMENTS

Giventhesizeofourinvestmentfund,theEPFfacesconstraintsgiventhelimitedbreadthofinvestmentproductsandliquiditytotradeinlargevolumeslocally.Itisonlyappropriatethatwediversifyandexpandourportfoliointooverseasinvestments.Thishasbecomeallthemoreimportantgiventhatthepaceofourinvestmentassetgrowthismuchfasterrelativetolocalmarketgrowth.Asidefrommitigatingtheconcentrationriskin thedomesticmarket,overseas investmentsofferhigheropportunities forcapitalisationof returnsovera long-terminvestmenthorizon.

In line with our investment diversification strategy, andto complement our long-term investment plan, we havegradually increased our international investment assets inphases, in tandem with the movement of the markets. In2011, an additional USD5.54 billion worth of investmentsinoverseas investmentmandateswasmade.This includedinvestments of USD3,335 million in Global Equities,equivalents of USD1,187 million for Global Real Assets,anotherUSD750millioninGlobalSukuk,andthebalanceinPrivate Equities. Cumulatively, the total capital drawdownintonon-Ringgitinvestmentsasatyearend2011wasaboutUSD17billion.

PELABURAN ANTARABANGSA

Disebabkan saiz dana pelaburan yang besar, KWSPberhadapandengankekanganpeluangdanprodukpelaburansertakecairanyangterhaduntuktransaksidagangandalamjumlahyangbesardidalampasarandomestik.Justeruitu,menjadisatukeperluanbagiKWSPuntukmempelbagaidanmemperluaskan portfolio pelaburannya ke dalam pasaranluar negara. Malah, ia menjadi lebih kritikal disebabkankadar pertumbuhan aset pelaburan KWSP adalah lebihpantasberbandingpertumbuhanpasarantempatan.Selaindapatmengurangkanrisikoyangtertumpukepadapasarandomestik,pelaburanluarnegaramampumemberipeluangpulangan keuntungan modal yang lebih baik bagi tempohpelaburanjangkapanjang.

Selarasdenganstrategipempelbagaianportfoliopelaburandalamperancanganpelaburanjangkapanjang,KWSPtelahmempertingkatkan aset pelaburan luar negara secaraberperingkat, seiring dengan pergerakan pasaran. Padatahun 2011, sebanyak USD5.54 bilion jumlah pelaburantambahan telah dibuat ke dalam mandat pelaburan luarnegara. Ini termasuk tambahan dana berjumlahUSD3,335jutadidalamEkuitiGlobal,amaunberjumlahUSD1,187jutauntukhartanahluarnegara,USD750 jutadalampelaburanSukuk Global, dan bakinya di dalam pelaburan EkuitiPersendirian. Jumlah suntikan dana kumulatif di dalampelaburan bukan Ringgit setakat penghujung tahun 2011adalahsebanyaklebihkurangUSD17bilion.


SUNTIKAN DANA PELABURAN ANTARABANGSA/INTERNATIONAL INVESTMENT DRAWDOWN


Cumulative Drawdown % of Total Assets

mil


FollowingtheapprovalbytheGovernmentforustoinvestupto23percentofourfundsizeoverseas,asatendDecember2011ourtotalexposureinglobalinvestmentassets(intermsofcost),was13.37percent.Weareanticipatingthatwewillallocateupto20percentofour total fundsize intoglobalinvestmentsby2013.This transitionplan into internationalassets does not imply that the EPF is shifting domesticinvestmentsoutofthecountry.Thisissimplybecause,eventhoughthepercentageofdomesticassets isonareducingtrend, intermsof theabsoluteamountof investments, thedomesticassetsizehasbeenandwillcontinuetoexperiencepositiveaveragegrowthofsome4percentperannum.

The year 2011 saw the establishment and implementationofhedgingpolicies,guidelinesandstrategiestoprotecttheEPF’s overseasportfolio against unpredictable and volatilecurrencymovement,inparticular,intheareaofGlobalSukukholdings.ThisapproachhasallowedtheEPFtomitigatethecurrency risk in obtaining consistent and smoother forextranslations.

Goingforward,wewillcontinuetobeexceptionallycautiousandvigilantofour investmentstrategiesoverseasandwillworktobuildupourexpertiseinthesemarkets.Atthesametime,wewillcontinuetotakeeveryprecautiontomanagethechallenges and risks associated with overseas investmentexposure.

BerikutankelulusanolehKerajaanuntukKWSPmelaburkansehingga 23 peratus daripada saiz dana di luar negara,setakat penghujung Disember 2011, jumlah pendedahanKWSPdidalamasetpelaburanglobal(darisegikos)adalah13.37peratus.KWSPmensasarkanuntukmempertingkatkanpelaburan globalnya sehingga 20 peratus daripada jumlahsaiz aset menjelang tahun 2013. Rancangan transisipelaburan aset luar negara ini tidak bermakna bahawaKWSP akanmemindahkan pelaburan domestiknya ke luarnegara. Ini kerana sungguhpun peratusan pegangan asetdomestik memperlihatkan trend pengurangan, dari segiamaunpelaburan,saizasetdomestikmasihdanakanterusmengalami purata pertumbuhan yang positif sebanyak 4peratussetahun.

Mulaitahun2011,KWSPtelahmelaksanakanpolisi,strategidangarispanduanlindungnilai(hedging)untukmelindungiportfolio KWSP di luar negara daripada pergerakan turunnaik luar jangka matawang asing, khususnya, dalampegangan Sukuk Global. Pendekatan ini membolehkanKWSPmengurangkanrisikovolatilitimatawangasing.

Melangkah ke hadapan, KWSP akan terus lebih berhati-hatidanberwaspadadalammelaksanakanstrategipelaburanluarnegaradanakanberusahamempertingkatkanpengetahuandankepakarandalampasaran-pasaranyangdiceburi.Padamasayangsama,KWSPakanterusmengambillangkahberjaga-jagadalammenghadapicabarandanrisikoyangberkaitandenganpendedahanterhadappelaburanluarnegara.





STRATEGIC ASSET ALLOCATION / TACTICAL ASSET ALLOCATION (SAA/TAA)

The SAA serves as an optimal asset allocation strategy tomaximiseexpectedreturnsforagivenlevelofrisk.Hence,theEPF’sSAA/TAAmodelwasdesignedinaccordancewithits investment objective of maintaining consistent returnsoverthelongrunwithintolerableriskslimitsforeachassetclass. The model takes into consideration the EPF’s riskappetites, constraints, and relevant rules and regulationsthattheEPFhastoadhereto.

Asaretirement fund, theEPF iscommittedtomaintainingaprudentandlowrisk investmentpolicy.Assuch,theriskmanagement strategy has always been to ensure that theappropriateamountofriskisassignedtoeachassetclass.In the process of determining the most appropriate SAAapproachfortheEPF,parameterssuchasassetassumptionsfor economic variables, asset class returns and cash flowprojections,areimputedintothemodeltoidentifyanassetmixthatbestsuitstheinvestmentobjectivesassociatedwithanassetclass’risk/returnprofile.

As a long-term investor, the EPF does not revise the SAAoneverymarketeventoreconomiccrisis.However,wedomaketacticalassetallocationchanges(TAA)withintheSAArangedependingonthemarket’sfuturecourseofdirection.To date, the EPF hasmanaged to put in place sound andsufficientriskmanagementpracticestosafeguarditsoverallinvestments. We review these regularly to ensure theircontinuedeffectiveness.

ALOKASI ASET STRATEGI / ALOKASI ASET TAKTIKAL (SAA/TAA)

SAA adalah strategi pengurusan aset pelaburan yangoptimum dalam memaksimumkan jangkaan pulanganberdasarkantahaprisikoyangtelahditetapkan.Justeruitu,modelSAA/TAAKWSPtelahdirangkaberlandaskanobjektifpelaburannyadalammencapaipulanganyangkonsistenuntuktempoh jangka panjang dalam julat risiko yang dibenarkanuntuk setiapkelas aset.Model inimengambilkira toleransirisikodankekangansertaperaturandankaedahyangrelevanyangharusdipatuhiolehKWSP.

Sebagai sebuah dana persaraan, KWSP sentiasa komiteddalam mengekalkan dasar pelaburan yang berhemah danberisiko rendah. Justeru itu, strategi pengurusan risikosentiasa memastikan pendedahan risiko yang sewajarnyabagi setiap kelas aset dipatuhi. Dalam prosesmenentukanpendekatanSAAyangpalingsesuaiuntukKWSP,parameter-parametersepertiandaianpembolehubahekonomi,jangkaanpulangandaripadasetiapkelasasetsertaunjuranalirantunaipadamasa akan datang telah ditaksirkan ke dalammodeluntukmengenalpastikombinasikelasasetsertaprofilrisikodanpulanganyangpalingmenepatiobjektifpelaburan.

Sebagai pelabur jangka panjang, KWSP tidak semestinyamemindaSAAsetiapkaliberlakunyakegawatanekonomiataukrisispasaran.Sebaliknya,KWSPmelakukanperubahandanpenyesuaian alokasi aset taktikal (TAA) dalam lingkunganSAA, bergantung kepada hala tuju pasaran pada masadepan. Sehingga kini, KWSP telah mengamalkan amalanpengurusan risiko yang teguh dan berkemampuan untukmelindungi pelaburannya secara keseluruhan. KWSP jugasentiasa menyemaknya untuk memastikan keberkesanandankelangsungannyaadalahberterusan.




AsthetrusteeandholderofthebiggestfundinMalaysia,theEPFisresponsibleforensuringthatmembers’savingsaresecureandthattheyreceiveappropriatereturnsintheformofannualdividends. In2011,wecontinued to implementahostofinitiativestoaccomplishtheseaimsaswellasensurewemadestrongstridesforwardontheoperationalfront.Thefollowingkey indicatorsunderscore theprogressachievedbytheEPFasat31December2011.

MEMBERS

Asat31December2011,thetotalnumberofEPFmembersincreased to13.15millionmembersascompared to12.72million members as at the end of 2010. Of this total, thenumber of active members (members who continue tocontribute) increased by 3.64 per cent to 6.26 million ascomparedto6.04millionmembersin2010.

EMPLOYERS

In2011,thenumberofemployersregisteredwithusroseby3.89percentto487,664employersincomparisonto469,390registeredemployersin2010.Ofthistotal,55,457werenewemployersregisteredwiththeEPFin2011ascomparedto52,637newemployersin2010.

Sebagai pemegang amanah dan dana yang terbesar diMalaysia, KWSP bertanggungjawabmemastikan simpananahlinya adalah selamat dan mereka menerima pulanganyangsewajarnyadalambentukdividentahunan.Pada2011,KWSPterusmelaksanakanpelbagaiinisiatifbagimencapaimatlamatinisertamemastikanoperasiterusdiperkukuhkan.Penunjuk-penunjukpentingberikutmenggariskankemajuanyangdicapaiolehKWSPsetakat31Disember2011.

AHLI

Setakat31Disember2011,jumlahahliKWSPtelahmeningkatkepada 13.15 juta berbanding 12.72 juta pada akhir 2010.Daripadajumlahini,bilanganahliyangaktif(ahliyangmasihmencarum)meningkat sebanyak3.64peratuskepada6.26jutaberbanding6.04jutaahlipada2010.

MAJIKAN

Pada 2011, bilangan majikan berdaftar dengan KWSPbertambah3.89peratuskepada487,664majikanberbanding469,390 majikan yang berdaftar pada 2010. Daripadajumlah ini, 55,457merupakanmajikan baru yang berdaftardengan KWSP pada 2011, berbanding 52,637 majikan barupada2010.

PENUNJUK UTAMA 2011KEYINDICATORSIN2011





CONTRIBUTION RATE

Previously, in line with the implementation of a 2009governmentpolicyundertheeconomicstimuluspackagetoincreasedisposableincomeandlocaldemand,EPFmembershadtheoptionofreducingtheirmonthlyrateofcontributionbythreepercentagepointsfromthestatutoryrateof11percent to 8 per cent. This policy came into effect in January2009andendedinDecember2010.CommencingwiththeirJanuary2011salaries, thecontributionrate foremployeesrevertedtothemandatory11percentmonthlycontribution.Theemployer’scontributionratehasremainedintactat12percentthroughoutthistime.

ANNUAL CONTRIBUTION

In 2011, total contributions amounting to RM41.43 billionwere collected and credited intomembers’ accounts. Thisrepresentsa15.86percentincreasefor2011incomparisontotheRM35.76billionincontributionscollectedin2010.Theincreasecameonthebackofthereversionoftheemployeecontribution rate from the temporary 8 per cent to themandatory11percentmonthlycontribution.

DIVIDEND PAYMENT POLICY

AsperSection27of theEPFAct 1991, theFund,with theapprovaloftheMinisterofFinance,istodeclareaminimumof 2.50 per cent dividend on themembers’ savings at theend of each financial year. It has always been the EPF’sobjective toaddvaluetoourmembers’retirementsavingsand consistently pay a positive real dividend of 2 per centoveranyrollingthree-yearperiod.Theannualdividendformembersisdeclaredbasedonallrealisedincomederivedfrom total assets in a particular year and may thereforediffer fromyear to yeardependingonprevailingeconomicandmarketconditions.

As the bulk of the EPF’s assets are in fixed incomeinstruments, our returns are highly influenced by interestrate movements. For instance, the dividend rates duringthe 1980s and 1990s were higher as the interest ratesduringthoseyearswereasmuchastwiceourcurrentrates.nevertheless,overthelast30years–withtheexceptionoftwooccasionsin1981and2008–theEPFhaspaiddividendsabove the inflationrate.Particularlynoteworthy is the factthat since 2001 (discounting the 2008 financial crisis), ourdividendrateshavebeenontheuptrend.

KADAR CARUMAN

Sebelum ini, seiring dengan pelaksanaan dasar kerajaanpada 2009 di bawah pakej rangsangan ekonomi untukmeningkatkan pendapatan boleh guna serta permintaandomestik, ahli KWSP mempunyai pilihan untukmengurangkan kadar caruman bulananmereka sebanyak3 peratus daripada kadar berkanun 11 peratus kepada 8peratus.DasarinitelahberkuatkuasapadaJanuari2009danberakhirpadaDisember2010.MulaigajibulanJanuari2011,kadarcarumanberkanunbahagianpekerjatelahdinaikkansemula kepada 11 peratus. Sepanjang tempoh ini, kadarcarumanmajikankekalpada12peratus.

CARUMAN TAHUNAN

Pada2011,jumlahcarumansebanyakRM41.43biliontelahdikutipdandikreditkankedalamakaunahli.Iamerupakanpeningkatan15.86peratuspada2011berbandingRM35.76bilion kutipan caruman pada 2010. Peningkatan ini adalahberikutankenaikansemulakadarcarumanpekerjadaripadakadarsementara8peratuskepadacarumanwajibbulanan11peratus.

DASAR PEMBAYARAN DIVIDEN

Mengikut Seksyen 27, Akta KWSP 1991, KWSP, dengankelulusanMenteriKewangan,perlumengisytiharkanminimum2.50peratusdividendaripadasimpananahlipadaakhirsetiaptahunkewangan.IasememangnyamenjadimatlamatKWSPuntuk memberi nilai tambah kepada simpanan persaraanahli dan membayar dividen benar yang positif sebanyak 2peratussecarakonsistenselamatempohtigatahunberturut-turut. Dividen tahunan untuk ahli diisytihar berdasarkansemuapendapatanyangdirealisasiyangdiperolehidaripadakeseluruhanasetdalamtahunberkenaandanjusteruitubolehberbeza dari tahun ke tahun bergantung kepada keadaanekonomidansuasanapasaransemasa.

Memandangkan sebahagian besar daripada aset KWSPadalahdidalaminstrumenberpendapatantetap,pulangannyaamatdipengaruhiolehperubahankadarfaedah.Contohnya,kadar dividen pada tahun 1980-an dan 1990-an ternyatalebih tinggimemandangkankadar faedahsepanjangtahuntersebut adalah dua kali lebih tinggi berbanding kadarsemasa.namundemikian,sejak30tahunyanglalu–kecualibagiduakeadaanpadatahun1981dan2008–KWSPtelahmembayardividenyangmelebihikadarinflasi.Perludiberiperhatian khususnya ialah hakikat bahawa sejak 2001(kecualisemasakrisiskewangan2008),kadardividenKWSPsemakinmeningkat.



ItisimportantthatourmembersunderstandthattheEPFisaretirementfundwithinvestmentobjectives,strategiesandriskappetitesthatarequitedifferentfromotherinvestmentfunds or institutions. Despite our commercial approachto investment opportunities, we have to strike a balancebetween safeguarding the interests of our members andensuringthegrowthoftheirnestegg.

MEMBERS’ ACCOUNTS

AllEPFmembershaveanAccount1andAccount2withuswhereby70percentofeachmember’smonthlycontributionis paid into Account 1 with the remainder into Account 2.SavingsinAccount1areforthepurposeofretirementandcanonlybewithdrawnuponamemberreaching55yearsofage.nonetheless,beforetheyturn55,membersmayutilisepartoftheirsavingsinAccount1toinvestinapprovedinvestmentinstruments.SavingsinAccount2canbewithdrawnwhenamemberreaches50ormaybeutilisedtopurchaseahouse,fundeducationoroffsetmedicaltreatmentcost.

In 2011, we continued to carry out campaigns to createawarenessonourvariousofferingstoprotecttheinterestsof members and their next-of-kin. Our efforts includedcampaigns to educate members on the importance ofnominatingbeneficiaries.Tothisend,werolledoutradioandprintmediacampaignswithboldheadlinesandstrongvisualsthatcalleduponmemberstoprioritisethewelfareoftheirfamiliesintheeventofanyuntowardincident.Alongsidetheadvertisingcampaign,promotionswerecarriedoutthroughEPFservicecountersandourCallCentre,aswellasthroughEPF’s official Facebook page (Kumpulan Wang SimpananPekerja)andTwitter(KWSPBuzz).

OureffortsprovedfruitfulwithamuchbiggernumberoftheEPFmembersnowawareof the importanceofnominatingbeneficiaries. The nomination exercise serves to ensurethat members’ next-of-kin do not have to go throughlengthy processes to obtain the money of members whohavepassedon.2011sawnominationsgrowingby12.93percent to 5,186,123 nominations in comparison to 4,592,149nominationsin2010.


Penting bagi ahli KWSP untuk memahami bahawa KWSPadalah sebuah dana persaraan dengan objektif, strategidan risiko pelaburan yang agak berbeza berbanding danaatau institusi pelaburan yang lain.Meskipunmengamalkanpendekatan komersial kepada peluang pelaburan, KWSPperlumenyeimbangkandiantaramelindungikepentinganahlidanmemastikanpertumbuhansimpananpersaraanmereka.

AKAUN AHLI

SemuaahliKWSPmempunyaiAkaun1danAkaun2denganKWSPdimana 70 peratus daripada carumanbulananahlidikreditkankeAkaun1manakalabakinyakedalamAkaun2.SimpanandalamAkaun1adalahuntuktujuanpersaraandan hanya boleh dikeluarkan apabila ahli mencapai umur55 tahun. namun begitu, sebelum mencapai umur 55,ahli boleh mengggunakan sebahagian daripada simpananmereka dalamAkaun 1 untukmelabur dalam kemudahanpelaburan yangdiluluskan.SimpanandalamAkaun2pulabolehdikeluarkanapabilaahlimencapaiumur50tahunataudigunakan untuk membeli rumah, membiayai pendidikanataukosrawatanperubatan.

Pada 2011, KWSP terus menjalankan kempen bagimewujudkan kesedaran mengenai pelbagai usaha KWSPdalammelindungikepentinganahlidanwaristerdekatahli.Ini termasukkempenmendidikahlimengenaikepentinganmembuat penamaan. Untuk tujuan ini, KWSP telahmengadakan kempen di radio serta media cetak dengantajuk berita serta visual yang menarik minat di mana iamenyeru ahli agar mengutamakan kebajikan keluargamereka sekiranya berlaku sebarang kejadian yang tidakdiingini. Di samping kempen pengiklanan, promosi turutdiadakanmenerusikaunterperkhidmatanKWSPdanPusatPanggilan, serta melalui halaman rasmi Facebook KWSPdanTwitter(KWSPBuzz).

Usaha kami nyatamembuahkan hasil apabila lebih ramaibilangan ahli KWSP kini sedar mengenai kepentinganmembuat penamaan. Penamaan memastikan waristerdekatahlitidakperlumelaluiprosesyangpanjanguntukmendapatkanwangahliyangtelahmeninggaldunia.Tahun2011 menyaksikan penamaan meningkat sebanyak 12.93peratuskepada5,186,123berbanding4,592,149pada2010.




WITHDRAWALS

Theyear2011sawatotalof1,969,854withdrawalapplicationsapproved a decrease of 1.35 per cent in comparison tothe 1,996,881 applications approved in 2010. In 2011, thetotal withdrawal amount increased by 6.44 per cent toRM23.30 billion as compared to RM21.89 billion in 2010.TheincreasewasduetoFlexibleAge55YearsWithdrawals,InvestmentWithdrawalsandHousingWithdrawals.

DEFAULTING EMPLOYERS

TheEPFbeingthecustodianoftheretirementsavingsofitsmembersisalwaysmindfulofprotectingandadvocatingtherightsofemployeesbyensuring thatemployers fulfil theirstatutoryobligationtoremitEPFcontributionspromptly.TheEPFhadbeensuccessfulinmaintainingahighcompliancerateamongstemployers through itseffectiveenforcementmeasuresand in 2011, the compliance ratewas98.64percentwhichcomprises503,509employers.Asaresultofthevarious enforcement strategies initiated by EPF, only 1.36percentor6,920ofthetotal510,451registeredemployersdefaulted in 2011, as compared to 1.49 per cent or 7,227employers of the total 484,822 registered employers whohaddefaultedin2010.


BILANGAN PENGELUARAN/NUMBER OF TOTAL WITHDRAWALS

PENGELUARAN

Tahun 2011menyaksikan sejumlah 1,969,854 permohonanpengeluarandiluluskan,menurun1.35peratusberbanding1,996,881permohonanyangdiluluskanpada2010.Pada2011,jumlahsimpananyangdikeluarkanmeningkatsebanyak6.44peratus kepada RM23.30 bilion berbanding RM21.89 bilionpada 2010. Peningkatan ini disebabkan oleh PengeluaranUmur 55 Tahun Fleksibel; Pengeluaran Pelaburan sertaPengeluaranPerumahan.

MAJIKAN GAGAL MENCARUM

KWSP sebagai penjaga simpanan persaraan ahlinyasentiasamenyedari akan keperluan untukmelindungi danmemperjuangkan hak para pekerja dengan memastikanmajikanmemenuhitanggungjawabberkanunmerekauntukmembayar caruman KWSP dengan segera. KWSP berjayamengekalkan kadar pematuhan yang tinggi di kalanganmajikan menerusi langkah-langkah penguatkuasaannyayangberkesandanberhemat.Pada2011,kadarpematuhanadalah 98.64 peratus yang meliputi 503,509 majikan.Hasil daripada pelbagai strategi penguatkuasaan yangdilaksanakan oleh KWSP, hanya 1.36 peratus atau 6,920daripada sejumlah 510,451 majikan berdaftar gagalmencarumpada 2011, berbanding 1.49 peratus atau 7,227majikandaripadasejumlah484,822majikanberdaftaryanggagalmencarumpada2010.


BILANGAN MAJIKAN BERDAFTAR & MAJIKAN GAGAL MENCARUM/NUMBER OF REGISTERED EMPLOYERS & DEFAULTING EMPLOYERS

Numbers

YearsYears

Numbers



TheEPFcontinuestoadoptamoderateandholisticapproachwhen dealing with defaulting employers, especially thosewhofacedseriouscash-flowproblems.Reasonableinstalmentpayment plans were granted to employers in financialdifficulties as a caringmeasure and to ensure that theseemployerscancontinuetobeinbusiness.

ENFORCEMENT ACTIVITIES

In2011,wecontinuedtostepupeffortstorecoveroutstandingcontributionsandprotectemployees’ interests.Adoptingafirm,yetprudentandholisticapproachtowardsenforcementactivities,weundertookseveralmeasuresincludingcriminalandcivilactionsagainstemployerswhofailedtoremittheircontributions. Employers who defaulted on remittingemployees’contributionswithin thestipulatedperiodwereprosecutedunderSection43(2)oftheEPFAct1991.Atotalof11,970 cases were brought to court in 2011 where 416employers were found guilty and imposed fines totallingRM487,600.TheEPFalsosuccessfullycollectedarrearsofcontribution amounting to RM14.89 million through courtorders.Asat31December2011,some1,922employerspaida total of RM38.44 million in arrears of contributionconsequentuponprosecutionaction.

As another remedial measure to recover outstandingcontributions, the EPF constantly institutes civil actionpursuant toSection65andSection46of theEPFAct1991against defaulting companies and its directors who arejointly and severally liable for any remaining unpaidcontributions.Asat31December2011,2,239caseshadbeenfiled in the Courts and in the course of which judgmentagainst 5,177 defendants were obtained and a sum ofRM62.53millionwerecollectedfromdelinquentemployers.

As part of the EPF’s continuous efforts to protect theinterests of employees, stern actions were taken againsterrantcompanydirectorsbysubmittingtheirnamestotheImmigrationDepartment to restrict them from leaving thecountry.Some1,311namesofdirectorsweresubmitted in2011underthisexercisewiththeEPFsuccessfullycollectingRM13.86million.Since2002,atotalof7,402directorshavebeenrestrictedfromleavingthecountryasprovidedunderSection39oftheEPFAct.

KWSPterusmengamalkanpendekatansederhanadanholistikapabila berurusan dengan majikan yang gagal mencarum,terutamayangmenghadapimasalahalirantunaiyangserius.Pelan pembayaran ansuran yang munasabah dibenarkanuntukmajikanyangmengalamikesulitankewangansebagailangkah prihatin dan untuk memastikan majikan tersebutdapatterusmenjalankanperniagaanmereka.

AKTIVITI PENGUATKUASAAN

Pada 2011, KWSP terus meningkatkan usaha untukmendapatkancarumantertunggakdanmelindungikepentinganpekerja. Dengan mengamalkan pendekatan yang tegas,berhemat dan holistik dalamaktiviti penguatkuasaan,KWSPtelahmengambilbeberapalangkahtermasuktindakanjenayahdan sivil terhadap majikan yang gagal membayar carumanmereka.MajikanyanggagalmembayarcarumanpekerjadalamtempohmasayangditetapkantelahdidakwadibawahSeksyen43(2)AktaKWSP1991.Sejumlah11,970kestelahdihadapkankemahkamahpada2011dimana416majikandidapatibersalahdan dikenakan saman berjumlah RM487,600. KWSP jugaberjayamengutiptunggakancarumansebanyakRM14.89jutamenerusi perintah mahkamah. Setakat 31 Disember 2011,seramai 1,922majikan telahmembayar tunggakan carumanberjumlahRM38.44jutaberikutantindakanpendakwaan.

Sebagai suatu langkah pemulihan untuk mendapatkansemula caruman tertunggak, KWSP turut mengambiltindakanguamansivilberdasarkanperuntukanSeksyen65dan Seksyen 46 Akta KWSP 1991 terhadap syarikat yanggagal mencarum serta pengarahnya yang dipertanggung-jawabkan secara bersama dan berasingan untuk apa-apacarumanyangmasihbelumdijelaskan.Setakat31Disember2011,sebanyak2,239kestelahdifailkandiMahkamahyangmana penghakiman terhadap 5,177 defendan telah dibuatdansejumlahRM62.53jutatelahdipungutdaripadamajikanyangbersalah.

SebagaisebahagiandaripadausahaberterusanKWSPuntukmelindungi kepentingan pekerja, tindakan tegas telahdiambil terhadap pengarah syarikat yang tidakmencarumdengan menyerahkan nama mereka kepada JabatanImigresenbagimelarangmerekakeluarnegara.Sebanyak1,311namapengarahtelahdiserahkanpada2011dibawahtindakan ini di mana melaluinya KWSP berjaya mengutipRM13.86 juta. Sejak 2002, sejumlah 7,402 pengarah telahmenerima perintah larangan ke luar negara seperti yangdiperuntukkandibawahSeksyen39AktaKWSP.




The EPF also continued to emphasise on compliancescreening enforcement nationwide to ensure maximumemployerandemployeecoverage.In2011,thefocuswasoninspectingemployers’premiseswithindesignatedareastoensure that employers who were liable to contribute hadregisteredwiththeEPFandhadsubmittedcontributionsforall theiremployeesbasedonthespecifiedrates.Atotalof35,037 employers’ premises were inspected in 2011 anddiscovered that about 76.31 per cent or 26,737 employershad proper records and compliedwith the EPF Act, whilesome422employersand406newmembershadregisteredwiththeEPF.Awarenesscampaignsviatheprintmediaweredone to increase awareness among employers on theirobligationtocontributetotheFund.

Over the course of 2011, the EPF continued to bolsterstrategicallianceswiththirdpartiestoenhanceenforcementactivities.Asaresultofthesecollaborativeefforts,RM4.54million in contribution arrears were collected from theemployersinvolved.

The EPF continues to collaborate with various licensingagenciesunder theMinistryofFinance,andespecially theMinistryofHomeAffairs,MinistryofHigherEducationandthePrimeMinister’sDepartmenttoensureemployersremittheircontributions.Throughsuchcollaboration,theagenciesinvolvedhaveagreed to impose thecondition that licenceswillonlyberenewedorissuediftherearenocontributionsowingbyemployers.Theseeffortshaveproveneffective increating awareness among employers to carry out theirresponsibilitytoremitEPFcontributionspromptly.

Asweventure forth,wewillcontinue tostrive toensureahighercompliancerateamongstemployersthrougheffectiveenforcement.


KWSP juga terus memberi penekanan terhadappenguatkuasaanpemeriksaanpematuhandiseluruhnegarabagi memastikan liputan majikan dan pekerja yangmaksimum.Pada2011,usahatertumpukepadapemeriksaanpremismajikandikawasanyangditentukanbagimemastikanmajikan yang layak mencarum telah mendaftar denganKWSP dan telah membayar caruman bagi semua pekerjamengikut kadar yang ditetapkan. Sejumlah 35,037 premismajikantelahdiperiksapada2011dandidapatibahawalebihkurang76.31peratusatau26,737majikanmempunyairekodyang teratur dan mematuhi Akta KWSP, manakala 422majikan dan 406 ahli baru telah berdaftar dengan KWSP.KempenkesedaranmelaluimediacetaktelahdilaksanakanuntukmeningkatkankesedarandikalanganmajikantentangtanggungjawabmerekauntukmencarumkepadaKWSP.

Sepanjang 2011, KWSP terus mengukuhkan pakatanstrategiknyadenganpihakketigabagimeningkatkanaktivitipenguatkuasaan. Melalui kerjasama ini sebanyak RM4.54jutatunggakancarumantelahdikutipdaripadamajikanyangterlibat.

KWSPterusbekerjasamadenganbeberapaagensipelesenandi bawah Kementerian Kewangan, Kementerian Dalamnegeri,KementerianPendidikanTinggidanJabatanPerdanaMenteri bagi memastikan majikan membayar carumanmereka. Menerusi kerjasama sedemikian, agensi yangterlibat telah bersetuju untukmengenakan syarat bahawalesenhanyaakandiperbaharuiataudikeluarkanjikamajikantiada lagi tunggakan caruman. Usaha ini nyata berkesandalammewujudkan kesedaran di kalanganmajikan untukmelaksanakantanggungjawabmerekamembayarcarumanKWSPdengansegera.

Dalammelangkahkehadapan,KWSPakanterusberusahamemastikan kadar pematuhan yang tinggi di kalanganmajikanmenerusipenguatkuasaanyangberkesan.



PENGELUARAN PERSARAAN RETIREMENTWITHDRAWALS

FLEXIBLE AGE 55 YEARS WITHDRAWALS

The Flexible Age 55Withdrawal facility was introduced in2007 and is still popular among members as the bestalternativeforfinancialplanningafterretirement.Underthefacility, amember is given a variety of flexiblewithdrawaloptions. These include lump sum payments, minimummonthlypaymentsofRM250foraperiodofnotlessthanoneyear,aswellasad-hocwithdrawalssubject toaminimumof RM2,000 with 30-day intervals between withdrawals.Members may choose any one or a combination of thesepaymentoptions.

In 2011, 277,040 applications were approved under theFlexible Age 55 Withdrawals facility, an increase of17.42 per cent from the 235,931 applications in thepreceding year. The total amount withdrawn under thisfacility reflected an increase of 20.10 per cent fromRM8.52billionin2010toRM10.23billionin2011.

BILANGAN PENGELUARAN UMUR 55 TAHUN/NUMBER OF AGE 55 WITHDRAWALS

PENGELUARAN FLEKSIBEL UMUR 55 TAHUN

Kemudahan Pengeluaran Umur 55 Tahun Fleksibel telahdiperkenalkanpada2007danbertambahpopulardikalanganahli sebagai pilihan terbaikmerancang kewangan selepaspersaraan. Di bawah kemudahan ini, ahli diberi pelbagaipilihan pengeluaran yang fleksibel. Ini termasuklahpembayaransemuasimpanansecarasekaligus,pembayaranbulananminimumRM250bagitempohtidakkurangdaripadasatu tahun, serta pengeluaran pada sebarang masa yangtertaklukkepadajumlahminimumRM2,000denganselang30haridiantarapengeluaran.Ahlijugabolehmemilihsatuataukombinasipilihanpembayaranyangdisediakanini.

Pada2011,sebanyak277,040permohonantelahdiluluskandibawahkemudahanPengeluaranUmur55TahunFleksibel,iaitumeningkat17.42peratusdaripada235,931permohonanyang diluluskan pada tahun sebelumnya. Jumlah amaunyang dikeluarkan di bawah kemudahan ini menunjukkanpeningkatan20.10peratusdaripadaRM8.52bilionpada2010kepadaRM10.23bilionpada2011.


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BILANGAN PENGELUARAN UMUR 50 TAHUN/NUMBER OF AGE 50 WITHDRAWALS

PENGELUARAN PRAPERSARAAN PRE-RETIREMENTWITHDRAWALS

BILANGAN PENGELUARAN PERUMAHAN/NUMBER OF HOUSING WITHDRAWALS

AGE 50 WITHDRAWALS

Under the Age 50 Withdrawals, members who reach 50yearsofage,havetheoptionofwithdrawingalltheirsavingsinAccount2.In2011,atotalof130,586memberswithdrewRM3.61 billion as compared to 123,101 members whowithdrewRM3.21billionin2010.

HOUSING WITHDRAWALS

EPFmembersmaywithdraw their savings inAccount2 topurchase or build a house, reduce a housing loan, or paymonthlyinstalmentsontheirhousingsloanorthatoftheirspouses.In2011,1,343,935housingwithdrawalapplicationswereapprovedtotallingRM4.35billion.Thiswasanoveralldecrease of 5.50 per cent as compared to 1,422,189applicationstotallingRM4.31billionin2010.

PENGELUARAN UMUR 50 TAHUN

Di bawah kemudahan Pengeluaran Umur 50 Tahun, ahlimempunyai pilihan untukmengeluarkan semua simpananmerekadalamAkaun2apabilamencapaiusia50tahun.Pada2011, seramai 130,586 ahli telah mengeluarkan RM3.61bilionberbanding123,101ahli yangmengeluarkanRM3.21bilionpada2010.

PENGELUARAN PERUMAHAN

Ahli KWSP boleh mengeluarkan simpanan mereka dalamAkaun2untukmembeliataumembinarumah,mengurangkanpinjaman perumahan, atau membayar ansuran bulananpinjaman perumahan ahli atau pasangan. Pada 2011,sebanyak 1,343,935 permohonan pengeluaran perumahantelah diluluskan dengan jumlah RM4.35 bilion. Secarakeseluruhan, ia merupakan penurunan sebanyak 5.50peratus berbanding 1,422,189 permohonan berjumlahRM4.31bilionpada2010.


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BILANGAN PENGELUARAN PENDIDIKAN/NUMBER OF EDUCATION WITHDRAWALS

HEALTH WITHDRAWALS

Under the Health Withdrawals facility, members maywithdrawtheirsavingsinAccount2topayforthecostoftheirownmedicaltreatmentorthatoftheirparents,spousesorchildrensufferingfromcriticalillnesses.However,theyarenot eligible to withdraw their savings for these purposesif suchcostshavealreadybeenborne in fullbymembers’employers. In theyearunder review, therewasa3.43percent increase in thenumberofapplicationsapprovedwith4,458 applications utilising RM39.40 million under criticalillnesswithdrawals in comparison to 4,310 applications in2010utilisingwithdrawalsamountingtoRM35.34million.

EDUCATION WITHDRAWALS

This facility allows members to withdraw their savingsinAccount2 topay for theireducationor theeducationoftheir childrenatdiploma level andabove. In2011, severalinstitutions that were providing loans for the purpose ofeducation financing were listed as approved institutions,allowing those enrolled in these institutions to withdrawtheir savings to finance their studies there. In 2011,62,537 EPF members took advantage of the educationwithdrawals totalling RM277.97 million, an increase of4.43percentascomparedto59,886applicationsamountingtoRM269.87millionin2010.


PENGELUARAN KESIHATAN

Di bawah kemudahan Pengeluaran Kesihatan, ahli bolehmengeluarkan simpanan mereka dalam Akaun 2 untukmembayar kos rawatan perubatanmereka atau untuk ibubapa, pasanganatauanak-anak yangmenghidapi penyakitkritikal. Bagaimanapun, ahli tidak layak mengeluarkansimpanan mereka bagi tujuan ini sekiranya kos tersebutditanggung sepenuhnya oleh majikan mereka. Bagi tahunyangdiulas,bilanganpermohonanyangdiluluskanmeningkat3.43 peratus dengan 4,458 permohonan yang berjumlahRM39.40 juta di bawah pengeluaran penyakit kritikalberbanding 4,310 permohonan pada 2010 dengan jumlahpengeluaransebanyakRM35.34juta.

PENGELUARAN PENDIDIKAN

Kemudahaninimembolehkanahlimengeluarkansimpanandalam Akaun 2 untukmembiayai pendidikanmereka atauanak-anakmerekadiperingkatdiplomadankeatas.Pada2011,beberapainstitusipemberipinjamantelahdisenaraikansebagai institusi yang dibenarkan bagi tujuan pembiayaanpendidikan, justerumembolehkanmereka yangmendaftardi institusi tersebut mengeluarkan simpanan untukmembiayai pengajian mereka. Pada 2011, seramai 62,537ahli KWSP telahmenggunakan peluang denganmembuatpengeluaran berjumlah RM277.97 juta, meningkat 4.43peratus berbanding 59,886 permohonan dengan jumlahpengeluaranmencecahRM269.87jutapada2010.

BILANGAN PENGELUARAN KESIHATAN/NUMBER OF HEALTH WITHDRAWALS


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BILANGAN PENGELUARAN PELABURAN/NUMBER OF INVESTMENT WITHDRAWALS

INVESTMENT WITHDRAWALS

Under the Basic Savings structure introduced in February2008, more EPF members are now eligible to invest anamount in excess of their Basic Savings in unit trusts.Previously, members needed to have savings exceedingRM55,000intheirAccount1forinvestmentpurposes.WiththeenhancedflexibilityinBasicSavings,memberscannowmakewithdrawalsoftheexcessamountinaccordancewiththe Basic Savings amount which varies with age levels.Theyoungerthemembersare,thelowerthebasicsavingsrequiredforthemtobeeligibletoinvesttheirsavings.

Theyear2011sawanincreaseinthenumberofinvestmentwithdrawalsduetothehighernumberofmemberseligiblefor this type of withdrawal as well as the introduction ofan enhanced delivery system. The Members ElectronicInvestment Option (e-PPA), an enhancement to theinformation delivery process between fund managementinstitutions (FMI) and theEPF,hasdonemuch toexpeditethe payment process to approved FMIs. A total of 768,793applications amounting to RM6.60 billion were approvedin 2011 in comparison to 506,950 applications amountingtoRM4.42billion in2010.Thisrepresentsa51.65percentincreaseinthenumberofinvestmentwithdrawalapplicationsapprovedanda49.32percentincreaseinfundsinvested.


PENGELUARAN PELABURAN

DibawahstrukturSimpananAsasyangdiperkenalkanpadaFebruari2008,lebihramaiahliKWSPkinilayakmelaburkansimpananmereka yangmelebihi Simpanan Asas di dalamsahamamanah.Sebelumini,ahliperlumempunyaisimpananminimummelebihiRM55,000dalamAkaun1merekauntuktujuan pelaburan. Dengan bertambahnya fleksibiliti dalamSimpanan Asas, ahli kini boleh membuat pengeluaran keatasamaun lebihansejajardenganamaunSimpananAsasyang berbeza mengikut peringkat umur. Lebih muda usiaahli, lebih rendah simpanan asas yang diperlukan untukmelayakkanmerekamelaburkansimpanan.

Tahun 2011 menyaksikan peningkatan dalam bilanganpengeluaran pelaburan kesan daripada pertambahanbilanganahliyanglayakmemohonuntukpengeluaraninidisamping pengenalan kepada penambahbaikan sistempenyampaian. Pilihan Pelaburan Elektronik Ahli (e-PPA),yang merupakan penambahbaikan kepada prosespenyampaianmaklumatdiantarainstitusipengurusandana(IPD) dan KWSP, telah banyak mempercepatkan prosespembayarankepadaIPDyangdiluluskan.Sebanyak768,793permohonanberjumlahRM6.60biliontelahdiluluskanpada2011 berbanding 506,950 permohonan berjumlah RM4.42bilionpada2010.Inimerupakanpeningkatan51.65peratusdalambilanganpermohonanyangdiluluskandandanayangdilaburkanmeningkatsebanyak49.32peratus.


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WITHDRAWALS FOR SAVINGS EXCEEDING RM1 MILLION

Members with savings exceeding RM1 million are giventheopportunitytowithdraw,manageandinvesttheexcessamount on their own, subject to a minimum of RM50,000with at least a three-month interval betweenwithdrawals.The EPF processed 1,875 applications for withdrawalsamounting to RM482million in 2011, an increase of 27.90percentascomparedto1,466applicationsin2010involvingsavingstotallingRM362.43million.

BILANGAN PENGELUARAN HILANG UPAYA/NUMBER OF INCAPACITATION WITHDRAWALS

PENGELUARAN LAIN otHeR WitHDRaWaLs

PENGELUARAN BAGI SIMPANAN MELEBIHI RM1 JUTA

Ahli yang mempunyai simpanan melebihi RM1 juta diberipeluang untuk mengeluar, mengurus dan melaburkansendiri jumlah lebihan simpanan yang mereka miliki,tertaklukkepadapengeluaranminimumRM50,000denganselang di antara pengeluaran sekurang-kurangnya tigabulan. KWSP telah memproses 1875 permohonanpengeluaran berjumlah RM482 juta pada 2011,meningkat27.90peratusberbanding1,466permohonanpada2010yangmelibatkansimpananberjumlahRM362.43juta.

BILANGAN PENGELUARAN BAGI SIMPANAN MELEBIHI RM1 JUTA/NUMBER OF WITHDRAWALS FOR SAVINGS EXCEEDING RM1 MILLION



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PENGELUARAN HILANG UPAYA

Ahli KWSP yang hilang upaya dari segi fizikal danmentalmempunyai pilihan untuk mengeluarkan keseluruhansimpananmereka.Pada2011,sebanyak6,658permohonanpengeluaranhilangupayatelahdiluluskanberbanding6,456permohonan pada 2010 yang merupakan peningkatansebanyak3.13peratus.SimpananberjumlahRM325.84jutatelah dikeluarkan di bawahkemudahanhilangupaya pada2011berbandingRM289.98jutapengeluaranpada2010.

INCAPACITATION WITHDRAWALS

EPF Members who become physically and mentallyincapacitated have the option of withdrawing theirentire savings. In 2011, a total of 6,658 applications forincapacitationwithdrawalswere approved as compared to6,456applicationsin2010representinganincreaseof3.13percent.TotalsavingsamountingtoRM325.84millionwaswithdrawnunderthisincapacitationfacilityin2011comparedtosomeRM289.98withdrawnin2010forthesame.



BILANGAN PENGELUARAN KEMATIAN/NUMBER OF DEATH WITHDRAWALS


DEATH WITHDRAWALS

Upon thedeathofEPFmembers, their nomineesornext-of-kin can apply towithdraw the savings of the deceased.ThenomineesofMuslimmembers,however,canonlyactasexecutorsoradministratorsof thedeceased’ssavingsandarerequired todistribute this inaccordancewith the lawsof faraid.2011sawa totalof41,125applications fordeathwithdrawalssubmittedincomparisonto41,027applicationsin2010,representinganincreaseof0.24percent.Approveddeathwithdrawalsin2011amountedtoRM731.45millionascomparedtoRM660.86millionapprovedin2010.

LEAVING THE COUNTRY WITHDRAWALSUnder this facility, EPFmemberswho are foreign citizensand intending to leaveMalaysiamaywithdraw their entiresavings. Members who are Malaysian citizens and areleaving Malaysia with no intention of returning, maywithdraw all their savings provided they revoke theirMalaysian citizenship. 2011 saw 2,690 members makingwithdrawals under this facility, reflecting an increase of5.00percentamountingtoRM189.84million,ascomparedtosome2,564memberswithdrawingsavingsamountingtoRM185.95millionin2010.

PENGELUARAN KEMATIAN

Selepas kematian ahli KWSP, penama atau waris terdekatahlibolehmemohonuntukmengeluarkansimpanansimati.Bagaimanapun,penamabagiahliyangberagamaIslamhanyabolehbertindaksebagaiwasiataupentadbirsimpanandanperlumengagihkannyamenurutHukumFaraid.Tahun2011menyaksikan 41,125 permohonan pengeluaran kematiandikemukakan berbanding 41,027 permohonan pada 2010,meningkat sebanyak0.24peratus.SejumlahRM731.45 jutatelah diluluskan bagi pengeluaran kematian pada 2011berbandingRM660.86jutayangdiluluskanpada2010.

PENGELUARAN MENINGGALKAN NEGARA

Dibawahkemudahanini,ahliKWSPyangmerupakanwarganegara asing dan berhasratmeninggalkanMalaysia bolehmengeluarkankeseluruhansimpananmereka.Ahliberstatuswarganegara Malaysia yang ingin meninggalkan Malaysiadan tidak berhasrat untuk kembali semula, bolehmengeluarkan kesemua simpanan dengan syarat merekaperlumembatalkanstatuskewarganegaraanmereka.Tahun2011menyaksikan2,690ahlimembuatpengeluarandibawahkemudahan ini, peningkatan 5.00 peratus yang berjumlahRM189.84 juta, berbanding 2,564 ahli dengan jumlahpengeluaransebanyakRM185.95jutapada2010.


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BILANGAN PENGELUARAN MENINGGALKAN NEGARA/NUMBER OF LEAVING THE COUNTRY WITHDRAWALS

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BILANGAN PENGELUARAN PEKERJA BERPENCEN/NUMBER OF PENSIONABLE EMPLOYEES WITHDRAWALS

PENGELUARAN PEKERJA BERPENCEN

KWSP membenarkan pekerja sektor awam berpencenmengeluarkan bahagian caruman mereka, sementarapekerja yangmemilih untuk bersara awal daripada sektorawamjugabolehmengeluarkankesemuabahagiansimpananmereka sepanjang tempoh perkhidmatan dalam sektorawam.Jumlahpengeluaranuntukkemudahaninimeningkat1.08 peratus pada 2011 dengan 93,174 pekerja berpencenmengeluarkansimpananmerekaberjumlahRM3.03bilion,berbanding 92,180 pekerja berpencen mengeluarkansimpananberjumlahRM4.01bilionpada2010.

PENSIONABLE EMPLOYEES WITHDRAWALS

Weallowpensionablepublicsectoremployeestowithdrawalltheirshareofcontributions,whileemployeeswhooptforearly retirement from thepublic sector canalsowithdrawalltheirshareofsavingsduringtheirtenureofserviceinthepublicsector.Thetotalwithdrawalsforthisfacilityincreasedby1.08percentin2011with93,174pensionableemployeeswithdrawing their savings totalling RM3.03 billion, ascompared to 92,180 pensionable employees withdrawingsavingstotallingRM4.01billionin2010.


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MANFAAT LAINotHeR BeneFits

INCAPACITATION AND DEATH BENEFITS

TheEPF’sincapacitationbenefitanddeathbenefitfacilitiesareformsofsympathyassistancegiventomembersortheirnext-of-kinordependants.DerivedfromtheFund’srevenueandnotmembers’ savings, thesebenefitsaim toease thefinancialburdenofmembers,theirnext-of-kinordependantswho have suffered because ofmembers’ incapacitation ordeath.Undertheincapacitationwithdrawal,anincapacitationbenefitofRM5,000willbepaid tomembers,whileadeathbenefitofRM2,500willbegiven tonext-of-kin/dependantsuponamember’sdeath.

In 2011, theEPFpaid outRM4.72million in incapacitationbenefits as compared to RM4.79million paid out in 2010.Death benefits paid out tomembers’ dependants or next-of-kinin2011decreasetoRM37.80millionascomparedtoRM38.24millionpaidoutinthepreviousyear.

MANFAAT HILANG UPAYA DAN KEMATIAN

Manfaat hilang upaya dan manfaat kematian KWSPmerupakanbantuansimpatiyangdiberikankepadaahliatauwaristerdekatahliatautanggunganahli.Diperolehdaripadahasil keuntunganKWSPdan bukannya daripada simpananahli, manfaat ini bertujuanmeringankan beban kewanganahli,waris terdekatatau tanggunganmerekayang terjejasakibat kehilangan upaya atau kematian ahli. Di bawahpengeluaranhilangupaya,manfaathilangupayasebanyakRM5,000 akan dibayar kepada ahli, manakala manfaatkematian sebanyak RM2,500 akan diberikan kepada waristerdekat/tanggunganahliberikutankematianahli.

Pada 2011, KWSP telah membayar sejumlah RM4.72 jutamanfaathilangupayaberbandingRM4.79jutayangdibayarpada 2010. Manfaat kematian yang dibayar kepadatanggungan atau waris terdekat ahli pada 2011 menurunkepadaRM37.80jutaberbandingRM38.24jutayangdibayarpadatahunsebelumnya.


TheEPFcontinuestomakeeffortstoensurethatitsofferingsarecustomer-orientatedandareinkeepingwiththetimes.2011 saw us introducing several new facilities as well asimplementingchangestoexistingfacilitiesforthebenefitofourmembers.

CHANGES TO EXISTING EPF FACILITIES

Revocation of Maximum Limits for Voluntary Contributions/Retirement Savings Facilities

Effective 1 January 2011, the EPF has removed themaximumcontribution limit for the VoluntaryContributionand1MalaysiaRetirementSavings.Assuch,contributionofmorethanRM5,000areallowedforbothwiththeminimumcontributionofRM50remaininginforce.

Improvements to Withdrawal for Age 50/55 and Savings Exceeding RM1 Million

Implemented on 11 April 2011, the improvements aim toexpediteandfacilitatewalk-inover-the-counterwithdrawalapplications for theAge50,Age55andSavingsExceedingRM1 Million categories. Currently, members no longerneed to submit theKWSP9Withdrawal Formand copy ofsupporting documents. They only need to present theirMyKad together with their savings account book or bankstatement.AuthenticationoftheinformationontheMyKadisdoneviaathumbprintscan.Thisinitiativehashelpedreduceprocessing,approvingandcreditingtimes.

INISIATIF TRANFORMASItRansFoRmation initiatiVes

KWSP terus berusaha memastikan bahawa segala yangdisediakannyaadalahberorientasikanpelanggandanseiringdenganperedaranzaman.Tahun2011menyaksikanKWSPmemperkenalkan beberapa kemudahan baru di sampingmelaksanakan perubahan kepada kemudahan sedia adabagimanfaatahlinya.

PERUBAHAN KEPADA KEMUDAHAN KWSP SEDIA ADA

Pembatalan Had Maksimum untuk Kemudahan Caruman Sukarela/Simpanan Persaraan

Berkuatkuasa 1 Januari 2011, KWSP telahmenghapuskanhad caruman maksimum untuk kemudahan CarumanSukarela dan kemudahan Simpanan Persaraan 1Malaysia.Justeru itu, pembayaran caruman yang melebihi RM5,000untuk kedua-dua kemudahan adalah dibenarkan.Bagaimanapun, pembayaran minimum sebanyak RM50masihdikekalkan.

Penambahbaikan kepada Pengeluaran Umur 50/55 Tahun dan Simpanan Melebihi RM1 Juta

Dilaksanakanpada11April2011,penambahbaikaninibertujuanuntuk mempercepat dan memudahkan permohonanpengeluaranolehahli yangdatangsendirikekaunterbagikategoriPengeluaranUmur50Tahun,Umur55TahundanSimpananMelebihiRM1Juta.Padamasaini,ahlitidaklagiperlu mengemukakan Borang Pengeluaran KWSP 9 dansalinandokumen-dokumensokongan.MerekahanyaperlumengemukakanMyKadbersertabukuakaunsimpananataupenyatabank.PengesahanmaklumatpadaMyKaddilakukanmenerusiimbasancapibujari.Inisiatifinitelahmembantumengurangkan masa pemprosesan dan kelulusanpermohonansertapengkreditanamaunpengeluaran.




INISIATIF TRANFORMASItRansFoRmation initiatiVes


Penambahbaikan kepada Pengeluaran Kesihatan

Pada 15 Julai 2011, KWSP telah melakukan lagipenambahbaikan kepada Pengeluaran Kesihatan denganmemperluaskan senarai penyakit kritikal yang diluluskandaripada39kepada55penyakitkritikal,termasuktigajenispenyakit mental. Penambahbaikan ini turut meliputipembelian peralatan sokongan perubatan dan tambahanuntuk penyakit kritikal terpilih. Bagi membolehkan ahliKWSP memanfaatkan simpanan mereka dalam Akaun 2,KWSP memberi ahli peluang untuk meringankan bebankewangan yang ditanggung oleh mereka serta keluargamereka. Senarai penyakit kritikal yang lebih menyeluruhbanyak membantu dalam memastikan ahli serta waristerdekatmerekabenar-benarmeraihmanfaatdaripadanya.

Penambahbaikan kepada kemudahan ini secarakeseluruhannya telahmembawa kepada proses kelulusanyanglebihlancar.Keseluruhannya,sebanyak95.10peratuspermohonanpengeluarantelahdiluluskandalamtempoh21hari. SetakatDisember 2011, sebanyak 4,458 permohonantelahdiluluskanberbanding4,310permohonanpada2010.

PENGURUSAN DAN PENGAWALAN KOS OPERASI KWSP

Sebagai sebuah organisasi pemegang amanah kepadasimpanan bagi lebih 13 juta ahli KWSP, adalah menjaditanggungjawab Pengurusan untuk memantau sertamengawal perbelanjaan operasi KWSP dalam usahamemastikanpulanganyangoptimumbagisetiapringgityangdibelanjakan.

Pengurusan akan terus melaksanakan langkah-langkahkawalanperbelanjaandarisegiteknologi,semakankaedahproseskerja,penggunaanruangpejabatyanglebihefisyenserta penerapan budaya kerja berkonsepkan kesedarankos yang lebih berkesan tanpa menjejaskan tahap kualitiperkhidmatan KWSP kepada ahli dan pemegangkepentingan.

Enhancement to Health Withdrawal

As of 15 July 2011, wemade further enhancement to ourHealthWithdrawalbyexpandingthelistofapprovedcriticalillnesses from 39 to 55 critical illnesses, including threetypesofmentalconditions.Theenhancementalsocoversthepurchaseofmedicalsupportequipmentandperipheralsforselected critical illnesses. In allowing theEPF’smemberstoleveragethesavingsintheirAccount2,weareprovidingthem the opportunity to reduce the financial burden uponthemselves and their families. The more comprehensivecriticalillnesseslistgoesalongwayinensuringmembersandnextofkintrulybenefitfromthis.

Overall, the improvementstothefacility ledtoasmootherapprovalprocess.Altogether,95.10percentofwithdrawalapplicationswereapprovedwithin21days.AsatDecember2011,4,458applicationswereapprovedascomparedto4,310applicationsin2010.

OPERATING COSTS MANAGEMENT AND CONTROL

Asthetrusteeforourmorethan13millionEPFmembers,it is the responsibility of theManagement tomonitor andcontrol the operating expenditure of the EPF as well asensureoptimumreturnsforeveryringgitspent.

The EPF Management will continue to contain costs byeffectivelyleveragingoninformationtechnology,continuousimprovementstocurrentworkprocessesaswellasbytheefficientuseofofficespace.Wewillendeavourtodoallthiswithoutcompromisingthequalityofourservicestomembersandstakeholders.


INISIATIF TRANSFORMASItRansFoRmation initiatiVes

Thesearesomeoftheinitiativesthatwereimplementedin2011:

• Utility cost saving activities such as the Energy SavingProgrammeinbuildingsownedbytheEPFandthesettingoftheminimumindoortemperatureat24degreesCelsiuswithinEPFpremises;

• Review of the notices sent tomembers and employers(e.g.noticeofPre-withdrawal50yearsandthenoticeofSuccessfulDirectCrediting);

• Continuous improvement on the procurement process(e.g.Implementationofe-bidding);

• Outsourcing of EPF document storage and retrievalactivitiestoathirdparty.

IMPROVEMENTS TO INFORMATION AND COMMUNICATION TECHNOLOGY

Continuous Process Improvements

In 2011, we continued to roll out a robust and secure ITinfrastructure bymaking continuous improvements in thisareatosupportEPFoperations.WecontinuedtoenhanceITprocesses by adopting IT best practices through theimplementation of Information Technology InfrastructureLibrary(ITIL)toachieveexcellenceinITServiceManagement(ITSM)capabilityinEPF.Astestimonyofourcompliancewithbest practies, we attained the ISO ISO/IEC 20000-1:2005certificationon18March2011fromSIRIMQAS.

Berikut adalah inisiatif-inisiatif yang telah dilaksanakansetakattahun2011:-

• Aktiviti penjimatan utiliti seperti Program PenjimatanTenaga di bangunan milik KWSP serta penetapan hadminimum suhu dalaman bangunan pada 24 darjahcelcius;

• Kajiansemulakeperluanpenghantarannotiskepadaahlidan majikan (contoh: notis Pra-Pengeluaran 50 tahundannotisPengkreditanTerusBerjaya);

• Penambahbaikan berterusan proses perolehan:Perlaksanaane-bidding;

• Perkhidmatan penyimpanan dan pencarian dokumenKWSP yang lebih efektif melalui penyumberluarankepadapihakketiga.

PENAMBAHBAIKAN KEPADA TEKNOLOGI MAKLUMAT DAN KOMUNIKASI

Penambahbaikan Proses Berterusan

Pada 2011, KWSP terus melaksanakan infrastrukturteknologi maklumat (IT) yang kukuh dan selamat denganmelakukan penambahbaikan berterusan dalam bidang inibagimenyokongoperasiKWSP.KWSPterusmeningkatkanproses IT dan mengguna pakai amalan terbaik denganmemanfaatkan Pustaka Infrastruktur Teknologi MaklumatatauITIL.KWSPjugatelahberjayamendapatpensijilanISO/IEC 20000-1:2005 pada 18 Mac 2011 daripada SIRIM QASsebagaibuktipematuhankepadaamalanterbaik.





Wecontinuedtoexpandtheintegrationwiththirdpartiessuchasbanks,unittrustcompaniesandothergovernmentagenciesto lower our costs of operations and improve operationalefficiencies.Aspartofoureffortstoreduceoperationalcosts,boost the efficiency of operational processes, as well asregulate information and data usage, we initiated projectspertaining to fraud management, data loss protection andthird party direct credit withdrawal payments. All thesecertainly helped strengthen the EPF’s IT applicationarchitecturein2011andbroughtusclosertowardsbecominga social security organisation of distinction. Continuousimprovements were also made to the Legal ManagementSystem (LMS)wherewe introducedonline facility toenableEPFPanelLawyerstoupdatetheircasestatus.

A Business Intelligence (BI) platform is being mooted tocentralisethecreationandextractionofEPFdatawiththeaimofoptimisingexistingdatausageespeciallythatfromthirdparties.TheBIplatformandenginewillprovidefacilitiessuchasreporting,analysis,forecasting,simulation,assumptions,performance management, alerts and notifications. Theplatform enables us to better connect with our membersandeffectivelydisseminateinformationwhileallowingustomakebetterdecisions,generateideasfornewinitiativesandimprovethewaywecurrentlyconductourbusiness.

Kamiterusmengembangkanintegrasidenganpihakketigaseperti bank, syarikat unit amanah dan agensi-agensikerajaan yang lain untuk mengurangkan kos danmeningkatkan kecekapan operasi. Sebagai sebahagiandaripada usaha KWSP untuk mengurangkan kos operasi,meningkatkan kecekapan proses operasi serta mengawalselia penggunaan maklumat dan data, KWSP telahmemulakan projek yang berkaitan dengan pengurusanfraud, perlindungan kehilangan data dan pembayaranpengeluarandikreditkanteruskepihakketiga.Kesemuainipastinyamembantumemperkukuhkan struktur aplikasi ITKWSP pada 2011 dan membawa KWSP semakin hampirmenjadi sebuah organisasi keselamatan sosial yangcemerlang. Penambahbaikan yang berterusan juga telahdibuatkepadaSistemPengurusanUndang-Undang(LMS)dimana kami memperkenalkan kemudahan secara dalamtalianbagimembolehkanPanelPeguamKWSPmengemaskinistatuskesmereka.

SebuahplatformBusiness intelligence (Bi)sedangdibincanguntuk diperkenalkan bagi memusatkan penghasilan danpengekstrakan data KWSP agar dapat mengoptimumkanpenggunaan data sedia ada, terutamanya daripada pihakketiga.PlatformsertaenjinBIiniakanmemudahkanfungsiseperti pelaporan, analisis, ramalan, simulasi, andaian,pengurusan prestasi, amaran dan pemberitahuan. Denganmemanfaatkan perkakasan perisikan perniagaan, pasukanKWSP akan dapat menghubungkan orang ramai denganmaklumatmenerusi kaedahmesrapengguna supayakamidapat membuat keputusan yang lebih baik, menjana ideauntukinisiatifbarudanmelakukanpenambahbaikanterhadapcaraKWSPmenjalankanperniagaanpadamasaini.



Excellence in Information Security Management

As an organisation that strongly supports the use oftechnology in its operations and dealings with members,the EPFmust relentlessly ensure iron-clad confidentialityof the data and information of itsmore than 13.15millionmembers and at all times uphold its integrity as it isaccountabletoitsmembers.Tothisend,wehaveputinplaceasecureITinfrastructurewith the necessary policies and processes to ensure thetightest controls possible. The implementation of ourInformation Security Management Systems (ISMS) servesto highlight how serious we are in implementing globallyrecognised standards in respect of information securitypolicies and procedures. The ISMS effectiveness wasfurtherunderscoredwhenwesuccessfullyretainedISO/IEC27001:2005certificationforthesystemforthe2010to2013period.

Tofurthertightenandstrengthenouroperationalcontrols,wecontinued tomakeenhancements to theFraudSystemcoveringcontributions,withdrawalsandregistrationaswellasourReleaseManagementSystemandIdentityManagementSystem. As part of theworkings of the Enterprise IdentityManagementSystem,EPFstaffareprovidedaspecificuserID from the time of their appointment until the time theyleavetheEPF.ThisinitiativeplacesstrictcontroloverstaffaccesstointernalEPFsystems,andplacesstringentlimitsontheauthoritythattheyhavetoperformtransactions.

ICT Awards and Recognition

Ourwinningof two ICTawards in2011bears testament toourcommitment tostrengtheningour informationsecuritymanagement capability through technology. The year sawuswinningtheIDC-EnterpriseInnovationAward2011attheCIOSummit2011,andtheSecurityExcellenceAwardattheShareGuideAssociationofMalaysia(SGAM)ICTAwards2011.Bothawardswere for theEnterprise IdentityManagementSystem,markinganothermilestoneinoperationalexcellencein the EPF. Championed by the security section of our ITDepartment, Project Expresso was created to facilitateeffective identity management, automated workflows aswellastheconsolidationof identityauditingandreporting,amongotherrequirements.


Kecemerlangan dalam Pengurusan Keselamatan Maklumat

Sebagai sebuah organisasi yang menyokong sepenuhnyapenggunaan teknologi secara menyeluruh dalam operasidanurusandenganahli,KWSPperlusentiasamemastikanbahawa kerahsiaan, integriti dan akauntabiliti data danmaklumatuntuklebih13.15jutaahlitidakterdedahkepadasebarangrisikopadabila-bilamasa.

Justeru itu, KWSP telah menyediakan infrastruktur ITyang selamat dengan polisi dan proses yang diperlukanuntuk memastikan kawalan yang seketat mungkin.Pelaksanaan Sistem Pengurusan Keselamatan Maklumat(ISMS) memperlihatkan betapa seriusnya KWSP dalammelaksanakan standard yang diiktiraf di peringkat globalberhubung dengan polisi dan prosedur keselamatan.Keberkesanan ISMS kian terserlah dengan kejayaan KWSPmengekalkan pensijilan ISO/IEC 27001:2005 untuk sistembagitempoh2010hingga2013.

Untukmemperketatdanmengukuhkanlagikawalanoperasi,KWSP terus melakukan penambahbaikan terhadap SistemFraud yangmeliputi caruman, pengeluaran dan pendaftaranserta terhadap Sistem Pengurusan Pelepasan dan SistemPengurusanIdentiti.SebagaisebahagiandaripadaperjalananSistem Pengurusan Identiti Perusahaan, kakitangan KWSPdiberikan ID pengguna yang khusus dari masa pelantikansehingga masa mereka meninggalkan KWSP. Inisiatif inimenempatkankawalanyangketatterhadapakseskakitangankepada sistem dalaman KWSP danmenetapkan batas yangketatterhadapkuasayangdimilikiuntukmenjalankanurusan.

Anugerah dan Pengiktirafan ICTKejayaan KWSPmemenangi dua anugerah ICT pada 2011menjadi bukti terhadap komitmen kami dalammemperkukuhkan keupayaan pengurusan keselamatanmaklumatKWSPmelaluiteknologi.TahuninimenyaksikanKWSPmemenangiIDC-EnterpriseInnovationAward2011diCIOSummit2011sertaSecurityExcellenceAwardsewaktuberlangsungnyaShareGuideAssociationofMalaysia(SGAM)ICT Awards 2011. Kedua-dua anugerah ini adalah untukSistemPengurusan IdentitiPerusahaanyangmencatatkansatu lagipencapaiankecemerlanganoperasiuntukKWSP.Dengan diterajui oleh seksyen keselamatan di JabatanTeknologiMaklumat,ProjectExpressotelahdirangkauntukmemudahkan pengurusan identiti yang berkesan, alirankerjaberautomasidanjuga,penggabunganpengauditandanpelaporanidentiti.




OPERATIONAL RISK MANAGEMENT

Operationalriskmanagementactivitiesremainatoppriorityat theEPF.Through2011CorporateRiskScorecardprocess,we identifiedandupdatedkeyrisks in101riskscorecardsowned by the Chief Executive Officer (CEO), Deputy ChiefExecutive Officer (DCEO) and Department/Section/BranchHeads. The respective owners clearly outlined theirownership of risks, controls and action plans and activelymanaged them.As part of theEPFs’ continuous efforts toembed a risk practising culture, a review of the CEO riskscorecard was undertaken. This exercise served to fine-tunetheCEOriskscorecardandincorporatesignificantandstrategicrisks.

TheEPF’sCorporateDigitalAssurance(CDA)initiativecallsforallownerstoensureallrisks,controlsandactionplansin their risk scorecards are updated. By the end of 2011,890 owners have provided six digital assurances to theManagementandtheEPFBoard.FollowingeveryCDA,weundertaketheconsolidationandscoringofallriskscorecardstoprovideaconsolidatedviewofkeyrisksfacedbytheEPF.Informationfromtheseexercisesisanalysedandpresentedto theManagement and theEPFBoard. In 2011,KeyRiskIndicators(KRIs)weredevelopedandformallyimplementedfor 29 Departments/Sections as early warning indicators.Redflags indicate that thetrigger limitofaparticularriskhasbeenbreached.

In2011,a totalof157 trainingsessionswereheld forEPFstafftoenhancetheirriskawarenessandriskmanagementability.Thesesessionsincluded:

• 9riskawarenesscourses• 8riskreviewsessionsforCEO,departmentandsection

riskscorecards• 23RiskChampiontrainingandtutorialsessions• 24ORMsystem(Q-Radar)tutorials• 5KRIsdevelopmentfacilitationssessions• 21FraudRiskAssessment(FRA)facilitations/discussions

sessions• 18advancedtrainingsessionsfor18branches• 40 risk assessment sessions for CEO, department and

spokeriskscorecards;and• 5MasterTrainerProgrammes


PENGURUSAN RISIKO OPERASI

AktivitipengurusanrisikooperasikekalsebagaikeutamaandiKWSP.MelaluiprosesKadSkorRisikoKorporatpada2011,KWSPtelahmengenalpastidanmengemaskinirisikoutamadi dalam 101 kad skor yang dimiliki oleh Ketua PegawaiEksekutif (KPE), TimbalanKetuaPegawaiEksekutif (TKPE)serta Ketua-ketua Jabatan/Seksyen/Cawangan. Pemilik-pemilik dalam kad skor telah menggariskan dengan jelasrisiko, kawalan dan pelan tindakan mereka sertamenguruskannyasecaraaktif.Sebagaisebahagiandaripadausaha berterusan KWSP untuk menerapkan budayapengamalanrisiko,kajiansemulakeataskadskorrisikoKPEtelah dilakukan. Usaha ini berperanan memperkemaskankad skor risiko KPE dan meliputi risiko signifikan sertastrategik.

Inisiatif Jaminan Digital Korporat [Corporate DigitalAssurance (CDA)] KWSP menetapkan agar semua pemilikmemastikankesemuarisiko,kawalandanpelantindakandidalam kad skor risiko mereka telahpun dikemas kini.Menjelangakhir2011,890pemiliktelahmemberikanenamjaminan digital kepada pihak Pengurusan dan LembagaKWSP. Berikutan setiap CDA, KWSPmelakukan penyatuandanpenskorankesemuakadskorrisikountukmemberikanpandangan bersepadu tentang risiko utama yang dihadapioleh KWSP. Maklumat daripada usaha ini dianalisis dandibentangkankepadapihakPengurusandanLembagaKWSP.Pada2011,PenunjukRisikoUtama(KRI)telahdirangkadandilaksanakansecararasmiuntuk29Jabatan/Seksyensebagaipenunjuk amaran awal. Penanda merah menunjukkanbahawarisikotertentutelahmencecahtahapcetus.

Pada2011,KWSPtelahmengadakan157sesilatihanuntukkakitanganKWSPbagimembantumeningkatkankesedaranmerekaterhadaprisikodankeupayaanmenguruskanrisiko.Sesiinitermasuk:

• 9kursuskesedaranrisiko• 8 sesi kajian semula risiko bagi kad skor risiko KPE,

jabatandanseksyen• 23sesilatihandantutorial“RiskChampion”• 24tutorialsistemORM(Q-Radar)• 5 sesi memudah cara pembangunan Penunjuk Risiko

Utama(KRI)• 21sesimemudahcara /perbincanganPenilaianRisiko

Fraud(FRA)• 18sesilatihanlanjutanuntuk18cawangan• 40sesipenilaianrisikountukkadskorKPE,jabatandan

seksyen• 5Program‘MasterTrainer’



BUSINESS CONTINUITY MANAGEMENT PLAN

TheEPFhassetinplaceaBusinessContinuityManagement(BCM)Plan.Throughitseffectiveimplementation,theBCMPlanhaspositioneduswellto:

• respondeffectivelytobusinessdisruption;• recovercriticalbusinessoperationsinatimelymanner;

and• minimise business disruption caused by unforeseen

disasters

In 2011, the EPF’s BCM readiness was further enhancedthrough activities in three main components: humanresource readiness, infrastructure readiness and planreadiness.Amongtheactivitiesimplementedwerebusinessimpactanalyses,option-strategyreviews, thedevelopmentofaflooddisastermitigationchecklist,call treeexercises,walkthrough exercises, as well as system and equipmenttestingattheEPFDisasterRecoveryCentre.

A crisis simulation exercise based on flood disaster wasconducted at the Kuala Terengganu Branch. Involvingrepresentatives from other branches, participants weremadetounderstandtheirrolesandresponsibilitiesaswellashowtorespondeffectively tobusinessdisruption in theeventofaflood.

INVESTMENT RISK MANAGEMENT

TheyearsawuscontinuingtoundertakevariousactivitiestoenhancethelevelofinvestmentriskmanagementwithintheEPF.Weconductedannualreviewsonpolicy,limitsandnon-complianceproceduresformajorassetclassestoensureallriskstakenarewithintheEPF’srisktolerancelevel.

Inlinewiththeexpansionofourglobalinvestmentportfolioand our investments in overseas properties, we haveenhancedtheguidelinesforproperty investmenttoensurethatrisksaremanagedappropriately.


PELAN PENGURUSAN KESINAMBUNGAN PERNIAGAAN

KWSPtelahmewujudkanPelanPengurusanKesinambunganPerniagaan (BCM). Menerusi pelaksanaan yang berkesan,PelanBCMmeletakkanKWSPpadakedudukanyangmantapuntuk:• bertindaksecaraefektifterhadapgangguanperniagaan;• memulihkanoperasiperniagaanyangkritikaltepatpada

masanya;dan• meminimumkangangguanperniagaanyangdisebabkan

olehbencanayangtidakdijangka

Pada2011,kesediaanBCMKWSPtelahdipertingkatkanlagimenerusiaktivitidalamtigakomponenutamaiaitukesediaansumber manusia, kesediaan infrastruktur dan kesediaanpelan. Antara aktiviti yang dilaksanakan adalah analisisimpak perniagaan, kajian pilihan-strategi, pembangunansenaraisemakantindakanpengendalianmenghadapibanjir,latihan“calltree”,latihan“walkthrough”,sertaujiansistemdanperalatandiPusatPemulihanBencanaKWSP.

Latihan simulasi krisis bencana banjir telah dijalankan diCawangan Kuala Terengganu. Dengan melibatkan wakildaripadacawanganlain,parapesertadiberikankefahamantentangperanandantanggungjawabmerekasertabagaimanauntukbertindaksecaraefektifterhadapgangguanperniagaansekiranyaberlakubanjir.

PENGURUSAN RISIKO PELABURAN

TahuninimenyaksikanKWSPterusmelaksanakanpelbagaiaktiviti untuk meningkatkan tahap pengurusan risikopelaburandiKWSP.Semakantahunanterhadappolisi,haddanprosedurketidakpatuhanuntukkelasasetutamabagimemastikansemuarisikoyangdiambilberadadalamtahappenerimaanrisikoKWSP.

Selaras dengan perkembangan portfolio pelaburan globaldanpelaburandalamhartanahdi luarnegara,KWSPtelahmenambahbaik garis panduan untuk pelaburan hartanahbagimemastikanrisikodiuruskandengansewajarnya.




Tostrengthentheriskmonitoringprocessfortheinternallymanaged domestic equity portfolio, we developed a newmarket risk rating methodology and implemented a newsectorclassification.

Inadditiontothis,thescopeofindependentriskassessmentshasbeenexpandedanditnowcoversvariousassetclassessuch as property, private equity, loans and bonds, moneymarketinstruments,domesticequityandglobalequity.

AlllimitsandManagementActionTriggers(MATs)havebeendocumentedinanauthorityfolderandhavebeendistributedtoallheadsofinvestmentdepartmentstoensuretheEPF’sinvestmentofficerscomplywiththeselimitswhencarryingouttheirresponsibilities.Wealsoorganisedcoursesonriskmanagementandbriefingsontheinvestmentriskframeworkfor our investment departments to ensure that the EPF’sinvestment risk management objectives are clearlyunderstood.Thistraininghasalsohelpedenhancedtheriskawarenesscultureamonginvestmentofficers.

Aspartofourcontinuousimprovementefforts,anewcreditrisksystemwillbe implementedby2012 tohelpusbetterassesstheaggregatecreditriskassumedbytheEPF.

CONTINUOUS HUMAN CAPITAL TRANSFORMATION

Human Resource Information System Improvements

Our Human Resource Information System (HRIS) wasintroducedintheyear2000withtheaimofautomatingdailymanualwork processes. Initially only covering users in theHuman Resource Management Department (HRMD), thecapabilitiesoftheHRISwereenhancedtocovertheentireEPFworkforce.Today theHRIScontinues toeffectively facilitatehuman resource planning and administration throughautomating theHRmanagement operations processes in apaperlessenvironment.TheHRISleveragesontheeProfile,eRecruiting,eLeave,ePerformanceandePaymodulestodriveHR-relatedactivities.


Bagimengukuhkanprosespemantauanrisikobagiportfolioekuitidomestikyangdiuruskansecaradalaman,KWSPtelahmembangunkankaedahpenarafanrisikopasaranyangbarudanmelaksanakanklasifikasisektorbaru.

Selain itu, skop penilaian bebas risiko telah diperluaskandankinimeliputipelbagaikelasasetsepertihartanah,ekuitipersendirian, pinjamandanbon, instrumenpasaranwang,ekuitidomestikdanekuitiglobal.

Semua had dan Pencetus Tindakan Pengurusan[ManagementActionTriggers (MATs)] telahdidokumenkandalam“AuthorityFolder”dantelahdiedarkankepadasemuaKetua Jabatan pelaburan bagi memastikan pegawaipelaburan KWSP mematuhi had tersebut dalammelaksanakan tanggungjawab mereka. KWSP turutmenganjurkan kursus mengenai pengurusan risiko dantaklimattentangrangkakerjarisikopelaburanuntukjabatanpelaburan bagi memastikan objektif pengurusan risikopelaburan KWSP difahami dengan jelas. Latihan ini jugatelahmembantumeningkatkanbudayakesedaranrisikodikalanganpegawaipelaburan.

Sebagai sebahagian daripada usaha penambahbaikanberterusan, satu sistem risiko kredit yang baru akandilaksanakan pada 2012 untukmembantumenilai denganlebihbaikagregatrisikokredityangditanggungolehKWSP.

.TRANSFORMASI BERTERUSAN MODAL INSAN

Penambahbaikan Sistem Maklumat Sumber Manusia

Sistem Maklumat Sumber Manusia (SMSM) KWSP telahdiperkenalkan pada tahun 2000 dengan matlamatmengautomasi proses kerja manual harian. Di peringkatawal ia hanya meliputi pengguna di Jabatan PengurusanSumber Manusia (JPSM), keupayaan SMSM kemudiannyadipertingkatkanuntukmeliputiseluruhwargakerjaKWSP.KiniSMSMterusmemudahkanperancangandanpentadbiransumbermanusiadenganberkesanmelaluiautomasiprosesoperasi pengurusan sumber manusia dalam persekitarantanpa kertas. SMSM memanfaatkan modul eProfil,ePengambilan, eCuti, ePrestasi dan eGaji untuk memacuaktivitiberkaitansumbermanusia.



TRANSFORMASI BERTERUSAN MODAL INSANContinUoUs HUman CaPitaL tRansFoRmation

TheHRMD is planning to upgrade theHRIS version 8.9 toversion9.1 in 2012. Thenewandmoresystematic versionwillfacilitatemanagementdecision-makingespeciallyintheareas of Workforce Management. The upgrading exercisewill do much to enhance the HRMD’s productivity in itsentirety.

Succession Planning

In line with the Government’s efforts to empower a newgenerationof leadersforMalaysia, theEPFhasestablisheda successionplanningprocess that identifieshighpotentialofficers from a talent pool and prepares them to takeover critical functions and key positions vacated by theirpredecessors.Theplanisalsoapartofouron-goingcorporateresponsibilityeffortstoensuresustainabilityintheworkplaceand the continuous delivery of operational excellence.This systematically coordinates efforts that encourageindividualdevelopmentwhilstsimultaneouslycreatescriticalreplacementsforcrucialpostswithintheEPF.

A Succession Plan Management Committeemanages andmonitorstheprogrammeandisresponsiblefortheselectionprocess, determining suitable training and developmentrequirementsforthetalentpool,evaluatingandmonitoringcandidates’ progress, aswell as reviewing the successionplan.

Candidatesareprovidedon-the-jobtraininganddevelopmentprimarily in theareaof leadership toenable themacquirethe requisite knowledge and skills. In 2011, a total of 50candidatesparticipatedintheSeniorLeadershipDevelopmentProgramme and 54 other candidates attended the GeneralLeadership Development Programme. These leadershipdevelopment programmes aim to hone the leadershipskillsofthesepotentialindividualsinthehopethatitwouldaccelerate operational implementation as per the EPF’sstrategicdirection.

JPSMmerancanguntukmenaik tarafSMSMdari versi 8.9kepada versi 9.1 pada 2012. Versi yang baru dan lebihsistematik ini akan memudahkan pihak pengurusanmembuatkeputusanterutamanyadalambidangPengurusanTenaga Kerja. Usaha menaik taraf ini akan banyakmenyumbangkepadapeningkatanproduktivitiJPSMsecarakeseluruhan.

Pelan Penggantian

SeiringdenganusahaKerajaanuntukmemperkasagenerasibaru pemimpin Malaysia, KWSP telah membentuk suatuproses perancangan penggantian yang mengenal pastipegawai berpotensi tinggi daripada kumpulan bakat danmempersiapkanmerekauntukmengambilalihtugas-tugaskritikal dan jawatan utama yang dikosongkan olehpenyandangnya. Pelan ini juga merupakan sebahagiandaripada usaha tanggungjawab korporat yang berterusandemi memastikan kemampanan di tempat kerja danpenyampaian kecemerlangan operasi yang berterusan.Usaha penyelarasan secara sistematik ini menggalakkanperkembangan individu dan sekali gus mewujudkanpenggantiankritikaluntukjawatanpentingdiKWSP.

Program ini diurus dan dipantau oleh JawatankuasaPengurusan Pelan Penggantian yang bertanggungjawabdalamprosespemilihan,menentukankeperluanlatihandanpembangunan yang bersesuaian untuk kumpulan bakat,menilai dan memantau kemajuan calon, serta mengkajipelanpenggantian.

Calondidedahkankepadalatihandanpembangunansemasakerja terutamanya dalam bidang kepimpinan bagimembolehkan mereka memperoleh pengetahuan dankemahiran yang diperlukan. Pada 2011, seramai 50 calontelahmenyertaiProgramPembangunanKepimpinanKanandan54calonlagitelahmenghadiriProgramPembangunanKepimpinan Am. Program pembangunan kepimpinan inibertujuan mengasah kemahiran kepimpinan individu yangberpotensi iniagar iadapatmempercepatkanpelaksanaanoperasimengikuthalatujustrategikKWSP.





2011’ssuccessionplanningmanagementactivitiesnotonlyreinforcedtheleadershipculturewithintheorganisation,ithelpedtheManagementtoidentifyandnurturethespecialtalent of our staff. It has also donemuch to drive careermanagement and staff development activities. Anchoredby a strong leadership, which in itself is the result of thesuccession planning technique applied, the entire EPForganisationistodayabletoworkeffectivelyasateam.

Self-Empowerment Programme

Evenaswesetoursightsonbecomingaworld-classsocialsecurityorganisation,wearegoingallouttoproduceexcellentand productive employees. The EPF’s Self-EmpowermentProgramme is one of the key initiatives to ensure theseedsofexcellencearecontinuouslysowedthroughouttheorganisation. This programme incorporates core activitiesthat are geared towards producing independent, prudent,dedicated, competitive and excellent staff. It also servesto develop and empower staff by emphasising humanisticvalues and creating conducivework environment. In 2011,thefollowingself-empowermentinitiativeswererolledout:

• Continuous guidance and counselling programmes forEPFstaffby53facilitatingofficerswhohavebeentrainedand certified by the EPF to counsel staff in particularthosewith performance problems at the departmentalandbranchlevels

• One session of Kursus Pemantapan Diri RakanPembimbingforseniorofficers

• Two sessions of Kursus Asas dan Pertengahan RakanPembimbing Baru (AKRAB) in collaboration with thePublicServiceDepartment(JPA)

• TwosessionsoftheHumanCapitalDevelopmentCourseforproblematicstaffasapartofaself-recognitionandperformanceenhancingprocess

• Five knowledge sharing and course content sessionsrelated tocounsellingmattersgiven toclerks, securityofficersandOMPD

• ThepublicationofarticlesonguidanceandcounsellingineveryeditionofBeritaKWSP

Aktiviti pengurusan pelan penggantian pada 2011 bukansahajamengukuhkanbudayakepimpinandidalamorganisasimalahiaturutmembantupihakPengurusanmengenalpastidan memupuk bakat istimewa kakitangan KWSP. Ia jugabanyakmenolongmemacupengurusankerjayadanaktivitipembangunan kakitangan. Berpaksikan kepimpinan yangteguh, yangmana ia sendirimerupakanhasil teknikpelanpenggantian yang diguna pakai, seluruh organisasi KWSPhari ini mampu bekerja dengan berkesan sebagai sebuahpasukanyangbersatu.

Program Pengupayaan Kendiri

Dalam menetapkan matlamat untuk menjadi sebuahorganisasi keselamatan sosial yang bertaraf dunia, KWSPberusaha sedaya upaya untukmenghasilkan pekerja yangcemerlang dan produktif. Program Pengupayaan KendiriKWSP adalah salah satu inisiatif utama bagi memastikanbenih kecemerlangan terus-menerus disemai di seluruhorganisasi. Program ini memasukkan aktiviti teras yangterarah kepada melahirkan kakitangan yang berdikari,berhemah, berdedikasi, berdaya saing dan cemerlang. Iajuga berperanan membangun dan memperkasakankakitangan dengan penekanan terhadap nilai-nilaikemanusiaan dan mewujudkan persekitaran kerja yangsesuai.Pada2011, inisiatifpengupayaankendiriyangtelahdilaksanakanadalahsepertiberikut:

• Program bimbingan dan kaunseling yang berterusanuntukkakitanganKWSPoleh53pegawaipemudahcarayang terlatih dan diiktiraf oleh KWSP untuk memberikaunseling kepada kakitangan (terutamanya merekayangmempunyaimasalahprestasidiperingkat jabatandancawangan)

• Satu sesi Kursus Pemantapan Diri Rakan Pembimbinguntukpegawai-pegawaikanan

• Dua sesi Kursus Asas dan Pertengahan RakanPembimbingBaru (AKRAB) dengan kerjasama JabatanPerkhidmatanAwam(JPA)

• Dua sesi Kursus Pembangunan Modal Insan untukkakitangan bermasalah sebagai sebahagian daripadaprosesmengenalidiridanmeningkatkanprestasi

• Lima sesi perkongsian pengetahuan dan kandungankursus yang berkaitan dengan hal-hal kaunselingdiberikan kepada kerani, pegawai keselamatan danOperatorMesinPemprosesanData

• PenerbitanartikeltentangbimbingandankaunselingdidalamsetiapedisiBeritaKWSP




The EPF Institute

OneofthemaincatalyststhatwilldrivetheEPFtorealiseitsvision,isacompetentworkforce.AssuchtheEPFInstitutewasestablishedin2001asatrainingcentretodevelopanddrive employee competencies. The institute offers a rangeofcoursesincludingsoft-skills,professionalandfunctionalcourses.

In2011,theEPFInstituterolledout786coursesessionsascompared to 711 course sessions in 2010. These coursescomprisedEPFInstituteCourses(59sessions),DepartmentCourses(301sessions),BranchCourses(271sessions)andad-hoc courses (155 sessions). Among the most popularcourses conducted were Creativity & Innovation, Integrity& Corporate Culture, Induction, Leadership, InvestmentandSocialSecurity.Inadditiontothesecourses,some554employeesweresentfor333externalcourseswhichsaw461employees attending 266 local courses and 93 employeesattending67overseascourses.

e-Learning Programme

Oure-LearningProgrammeinitiativeenablesstudycoursestobedoneonline.Staffcanaccessthesecoursesatanytimeaccordingtotheirconvenience.In2011,atotalofeightonlinecoursesandtwoonlinetestswereoffered.AmongthemostpopularmodulesweretheEPFVisionandMission,Essentialof Customer Relations and Risk Awareness. Some 2,700employeesparticipatedincoursesviathee-LearningPortalin2011,a48percentincreasefrom2010.Interestingly,72percentof themenrolled inmorethanoneonlinecourse.Thebigpercentageofrepeatuserssignifiedouremployees’acceptance towards the new learning methodology. Allparticipants who have successfully completed e-Learningcourseswillreceivecertificateofparticipationonline.

Institut KWSP

Salah satu pemangkin utama yang akan memacu KWSPmerealisasikanwawasannya,ialahtenagakerjayangcekap.Justeru itu, Institut KWSP telah ditubuhkan pada 2001sebagai sebuah pusat latihan untuk membangun danmendorong kecekapan pekerja. Institut ini menawarkanpelbagaikursustermasukkursuskemahiraninsaniah(soft-skills),profesionaldanfungsional.

Pada 2011, Institut KWSP telah melaksanakan 786 sesikursus berbanding 711 sesi kursus pada 2010. Kursus inimerangkumiKursusyangdibangunkanoleh InstitutKWSP(59sesi).KursusJabatan(301sesi),KursusCawangan(271sesi)dankursusad-hoc(155sesi).Antarakursusutamadanpalingpopular yang telahdilaksanakanadalahKreativiti&Inovasi, Integriti & Budaya Korporat, Induksi, Kepimpinan,Pelaburan dan Keselamatan Sosial. Selain kursus-kursusini,seramai554kakitangantelahdihantaruntukmenyertai333 kursus luar di mana 461 kakitangan menghadiri 266kursus di dalamnegara dan 93 kakitanganmenghadiri 67kursusdiluarnegara.

Program e-Learning

Inisiatif Program e-Learning membolehkan pembelajarandilakukandalamtalian.Kakitanganbolehmengakseskursustersebutpadabila-bilamasamengikutkeselesaanmereka.Pada 2011, sebanyak lapan kursus dalam talian dan duaujian dalam talian telah ditawarkan. Antara modul palingpopular ialah Visi dan Misi KWSP, Asas PerhubunganPelanggandanKesedaranRisiko.Seramai2,700kakitangantelahmenyertaikursusmelaluiPortale-Learningpada2011,iaitumeningkat48peratusdari2010.Menariknya,72peratusdaripadamerekatelahmenyertailebihdaripadasatukursusdalamtalian.Peratusanyangbesarbagipenggunaberulangmenandakan penerimaan kakitangan terhadap kaedahpembelajaran yang baru. Semua peserta yang berjayamenyempurnakankursusPortale-Learningakanmenerimasijilpenyertaansecaradalamtalian.





USAGE OF SERVICE DELIVERY CHANNELS

In 2011, we continued to provide various platforms formembers and employers to communicate with us at thecomfortoftheirhomeoroffice.Electronicservicechannelssuchas theKiosks,myEPFwebsiteand i-Akaunremainedpopularwithmemberswitheachrecordingusagegrowthof19percent,26percentand27percentrespectively.

Counter Services

Withmembersandemployersturningtoalternativeservicedelivery channels to conduct transactions, counter visitsdeclined in 2011. The year saw the number of membersvisiting counters shrinking 3.1 per cent to 5.77 millioncustomersincomparisonto5.95millioncustomersin2010.TheupsurgeinthenumberofKiosksavailableatthirdpartypremisesalsocontributedtothedeclineofcountervisits.

Mobile Team Service

Playing the role ofmini EPF branches, ourMobile Teamsare playing a pivotal role in widening our presence andprovidingmembersmoreopportunities to interactwithus.2011sawourMobileTeamsrampinguptheiractivitiesandextendingtheirservicesaswellasplayinganimportantpartincreatingawarenessontheimportanceofnominationandtheconveniencethatthei-Akaunoffers.Theiractivitiesrose7.5 per cent to 228 activities in 2011 as compared to 212in 2010. To ensure the needs of ourmembers throughoutMalaysia were adequately met, we set up units in JohorBahruandPulauPinangbesides those inSabah,SarawakandtheKlangValley.

PENGGUNAAN SALURAN PENYAMPAIAN PERKHIDMATAN

Dalam usaha memberikan perkhidmatan yang terbaikkepadaahlidanmajikan,KWSPterusmenyediakanpelbagaiplatformuntukmerekaberinteraksidengankamimengikutkesesuaian dan keselesaan mereka. Pada 2011, saluranperkhidmatan elektronik seperti Kios KWSP, laman webmyEPFsertai-Akaunadalahantaraplatformpalingpopulardimanamasing-masingmerekodkan19peratus,26peratusdan27peratuspeningkatanahlimenggunakanperkhidmatandalam talian dan saluran penyampaian perkhidmatanalternatif.

Perkhidmatan Kaunter

Tahun 2011 menyaksikan penurunan dalam bilangankehadiran pelanggan di kaunter apabila ahli dan majikanberalihkepadasaluranpenyampaianperkhidmatanalternatifuntukmelakukanurusan.Bilanganahli yangmengunjungikaunter menurun sebanyak 3.1 peratus kepada 5.77 jutapelangganpada2011berbanding5.95 jutapelangganpada2010. Pertambahan bilangan kios KWSP di premis pihakketigaturutmemberiimpakkepadakehadiranpelanggandikaunterkeranaahlimempunyailebihbanyakalternatifuntukberurusandenganKWSP.

Perkhidmatan Mobile Team

Memainkan peranan sebagai cawangan mini KWSP,Mobile Team KWSP membantu memperluaskan rangkaianperkhidmatan dan menyediakan ahli lebih banyak peluanguntuk berinteraksi dengan KWSP. Tahun 2011menyaksikanMobileTeammeningkatkan lagiaktivitidanmemperluaskanperkhidmatan mereka serta memainkan peranan pentingdalam mewujudkan kesedaran mengenai kepentinganmembuat penamaan dan betapa senangnya menggunakankemudahani-Akaun.Bilanganaktivitimeningkatsebanyak7.5peratuskepada228aktivitipada2011berbanding212aktivitipada2010.BagimemastikankeperluanpelanggandiseluruhMalaysiadapatdipenuhisecukupnya,KWSPtelahmenubuhkanunitMobileTeamdiJohordanPulauPinangselainunityangsediaadadiSabah,SarawakdanLembahKlang.




myEPF Website

TheEPFofficialwebsite,myEPF,providesinformationontheservicesitoffers.2011sawthenumberofvisitorsincreased26percent from5million in2010to6.3millionvisitors in2011.myEPFalsoreceiveda5-Starratingandwasrankedamongthe10bestwebsitesoutof1,155governmentportalsand websites by the Malaysia Government Portals andWebsitesAssessment(MGPWA)body.TheMGPWAassessesportals and websites on the criteria of content, usability,security,participationandservices.

i-Akaun (Members and Employers)

TheEPFaffords itsmembersandemployersanelectronicservice channel known as i-Akaun (member) and i-Akaun(employer). The i-Akaun is a personalised online accountfor members and employers to securely conduct EPFtransactions via the myEPF website. In 2011, the numberof members with i-Akaun totalled 740,427 members, anincreaseof27percentor155,859membersfromtheyearbefore,whilethethei-Akaunforemployerstotalledto10,148subscibers, an increase of 36 per cent from the previousyear.Usageof i-Akaunamongmembersandemployers in2011 increased27percentto4.53millionusersfrom3.58millionin2010.

EPF Kiosks

TheEPFKioskservesasaself-servicechannelthatenablesmemberstoprinttheiraccountstatementsandregisterforthe i-Akaun facilityusing theirMyKad.Todate,EPFKiosksareavailableatEPFofficesandatthirdpartypremisessuchasRHBBank, Ambank,CIMBBank,PublicBank,Citibank,UOB,HSBC,Maybank,InstitutJantungnegara,PerbadanannasionalBerhad,AeonCreditandCourts.In2011,therewere553Kiosk,ofwhich143werelocatedatEPFofficesand410atthirdpartypremises.TheKioskhasbecomethemainchannelfor printing members’ statement. In 2011, 85 per cent ofstatementswereprintedthroughKiosksascomparedtoonly15percentatcounters.ThenumberofstatementprintedatKiosksincreasedby19percentto6.29millionprintedin2011ascomparedto5.29millionstatementsin2010.

Laman Web myEPF

Laman web myEPF ialah laman web rasmi KWSP yangmenyediakan maklumat tentang perkhidmatan yangditawarkan oleh KWSP. Bilangan ahli yang mengunjungilaman web myEPF pada 2011 bertambah sebanyak 26peratus kepada 6.3 juta pengunjung berbanding 5 jutapengunjung pada 2010. Pada 2011 juga, myEPF telahmenerimapenarafan5Bintangdandibariskandikalangan10lamanwebterbaikdaripada1,155portaldanlamanwebkerajaandalamPenilaianPortaldanLamanWebKerajaanMalaysia(MGPWA).Kriteriayangpenilaianportaldanlamanweb oleh MGPWA adalah berdasarkan kandungan,kebolehgunaan,keselamatan,penyertaandanperkhidmatan.

i-Akaun (Ahli dan Majikan)

KWSPmenyediakansaluranperkhidmatanelektronikuntukahli danmajikan yang dikenali sebagai i-Akaun (ahli) dani-Akaun (majikan). i-Akaun adalah akaun peribadi dalamtalianuntukahlidanmajikanmenjalankanurusandenganKWSPsecaraselamatmelaluilamanwebmyEPF.Pada2011,jumlahkeahliani-Akaun(ahli)adalahseramai740,427ahli,meningkat27peratusatau155,859ahli,manakalakeahliani-Akaun(majikan)pulaberjumlah10,148majikan,meningkatsebanyak 36 peratus dari tahun sebelumnya. Tahun 2011menyaksikan penggunaan saluran i-Akaun untuk ahli danmajikanmeningkat sebanyak 27 peratus kepada 4.53 jutapenggunaberbanding3.58jutapenggunapada2010.

Kios KWSP

Kios KWSP berfungsi sebagai saluran layan diri yangmembolehkanahlimencetakpenyataakaundanmendaftaruntuk kemudahan i-Akaun dengan menggunakan myKadmereka. Setakat ini, Kios KWSP boleh didapati di pejabatKWSPdanpremispihakketigasepertiRHBBank,Ambank,CIMB,PublicBank,Citibank,UOB,HSBC,Maybank,InstitutJantungnegara,PerbadanannasionalBerhad,AeonCreditdanCourts.Pada2011,terdapat553KiosKWSP,yangmana143 daripadanya ditempatkan di pejabat KWSP dan 410 dipremispihakketiga.KiosKWSPtelahmenjadisaluranutamabagimencetakpenyataahli.Pada2011,85peratuspenyatatelah dicetak menerusi saluran ini berbanding hanya 15peratusmelaluikaunter.Peningkatancetakanpenyataahlidi Kios adalah 19 peratus kepada 6.29 juta penyata padatahun2011berbanding5.29jutapenyatapada2010.





Call Management Centre

ThefivemainactivitiesattheEPFCallManagementCentre(CMC) are Inbound Calls Management, Outbound CallsManagement,OnlineEnquiriesandFeedbackManagement,Social Media Management (Facebook and Twitter) andElectronic Fax Management. In 2011, the CMC handled atotal of 718,659 transactions, an increase of 1.78 per centfrom706,096in2010.

Therewere582,584inboundcallsin2011,areductionof1.19percentwhencompared to589,594 inboundcalls in2010.Over the same period, there were 80,997 outbound callsregistering an increase of 6.06 per cent from 76,366 callsin2010.Atotalof19,597memberswerecontactedbyCMCagents, informing them that their banker’s cheques wereready for collection at EPF counters. This 28.81 per centreductionfromthe27,529callstomembersin2010wasdueto theEPF implementingdirect creditingpayment to thirdparties.

The EPF received 51,929 enquiries through its website athttp://enquiry.kwsp.gov.my to signify an increase of 58.01per cent in 2011 when compared to 32,865 in 2010. Thisincreasewasduetothecontinuousimprovementsmadetothe official EPF website, increasedmyEPF bandwidth andahighernumberofInternetuserscoupledwiththespeedyreplywhere99.98percentofenquiriesreceivingrepliesinlessthanfiveworkingdays.

Pusat Pengurusan Panggilan

LimaaktivitiutamadiPusatPengurusanPanggilan)KWSPadalahPengurusanPanggilanMasuk,PengurusanPanggilanKeluar,PengurusanPertanyaandanMaklumBalasDalamTalian, Pengurusan Media Sosial (Facebook dan Twitter)serta Pengurusan Faks Elektronik. Pada 2011, PusatPengurusanPanggilan telahmengendalisejumlah718,659transaksi,iaitumeningkat1.78peratusberbanding706,096transaksipada2010.

Terdapat 582,584 panggilan masuk pada 2011, iaitu turun1.19 peratus berbanding 589,594 panggilan masuk pada2010. Dalam tempoh masa yang sama, terdapat 80,997panggilankeluar,meningkat6.06peratusberbanding76,366panggilan keluar pada 2010. Seramai 19,597 ahli telahdihubungi oleh ejen Pusat Pengurusan Panggilan untukmemberitahumereka bahawa cek jurubank telahpun siapuntukdiambildikaunterKWSP.Penurunansebanyak28.81peratusdari27,529panggilankepadaahlipada2010adalahkerana KWSP telah melaksanakan pembayaran kepadapihakketigamelaluipengkreditanterus.

Sebanyak 51,929 pertanyaan diterima melalui laman webKWSP di http://enquiry.kwsp.gov.my iaitumeningkat 58.01peratuspada2011berbanding32,865pertanyaanpada2010.Peningkatan ini adalah disebabkan penambahbaikanberterusan yang dilakukan terhadap laman web rasmiKWSP, meningkatkan jalur lebar myEPF dan bilanganpenggunainternetyanglebihtinggi.Pertanyaandalamtalianyang lebih mudah dapat dimanfaat oleh pengguna lamanweb, dengan99.98peratuspertanyaanmenerimamaklumbalasdalamtempohkurangdaripadalimaharibekerja.



Over the course of the year, the number of “EPF friends”onEPFFacebookpage leaped466percent from15,594 in2010to88,305in2011.Almost67percentofthecommentsreceived were regarding withdrawals and contributionswith the remaining on general matters. Issues pertainingtonomination,registration, i-Akaun,Kiosk,complaintsandcomplimentswerealsopostedonFacebookandTwitter.

Thecentrealsoreceived19,253electronicfaxesin2011,a33.8percentincreaseoverthe14,389electronicfaxesreceivedin2010.Theelectronicfaxmanagementservicecameaboutin2010toensureEPFmemberscollectedtheirchequesfromtheappropriateEPFoffice.Theservicewas thenextendedtoemployers (submissionofsupportingdocuments),panelclinics (medical reports for incapacitation withdrawals)and suppliers (for quotations). The EPF EnforcementDepartment,WithdrawalDepartment,SupplyProcurement&ServicesManagementDepartment,ContributionDepartmentand Asset Management Department, were among theheaviestusersofelectronicfaxfacilitiesin2011.

Customer Satisfaction

2011 saw us achieving a 93.32 per cent rating for ourCustomer Satisfaction Index in comparison to a 93.09 percentratingin2010.


Sepanjang tahun ini, “teman KWSP” di laman FacebookKWSP telahmeningkat 466 peratus daripada 15,594 padapenghujung 2010 kepada 88,305 pada penghujung 2011.Hampir67peratuskomenyangditerimaadalahmengenaipengeluarandancaruman,manakala33peratusmelibatkanperkara am. Isu berkaitan penamaan, pendaftaran,kemudahan i-Akaun, kios KWSP, aduan dan pujian turutdiposkandiFacebookdanTwitter.

Pusat ini juga telah menerima 19,253 faks pada 2011,meningkat 33.8 peratus berbanding 14,389 faks elektronikyang diterima pada 2010. Perkhidmatan pengurusan fakselektroniktelahdiwujudkanpada2010bagimemastikanahliKWSPmengambilcekmerekadaripadapejabatKWSPyangberkenaan. Perkhidmatan ini kemudiannya diperluaskankepadamajikan(penyerahandokumensokongan),klinikpanel(laporan perubatan untuk pengeluaran hilang upaya) danpembekal (untuk sebut harga). Jabatan Penguatkuasaan,Jabatan Pengeluaran, Jabatan Perolehan Bekalan &PengurusanPerkhidmatan,JabatanCarumansertaJabatanPengurusanHarta,merupakanantarapenggunayangpalingbanyakmenggunakankemudahanfakselektronikpada2011.

Kepuasan Pelanggan

Tahun2011menyaksikanKWSPmencapaipenarafan93.32peratus untuk Indeks Kepuasan Pelanggan berbandingpenarafan93.09peratuspada2010.


2009 2010 2011

SASARAN/TARGET 80% 85% 85%

PENCAPAIAN/ACHIEVEMENT 84.55% 93.09% 93.32%

Penglibatan Pemegang Kepentingan

KWSP terus melibatkan pemegang kepentingan bagimemastikanmerekamenerimamaklumatmutakhirtentangKWSP. Pada 2011, KWSP telah mengadakan sejumlah 30sesitemuramahdenganmediacetakdanmediaelektronikserta 9 sesi taklimat dengan pihak lain yang mempunyaikepentingan. Media tempatan telah menyiarkan 40 siaranakhbar, 61 artikel dan 6 kempen pengiklanan mengenaiKWSP. Sepanjang tahun ini, KWSP terus melaksanakankomunikasidenganpelangganmenerusipelbagaiplatformdaniatermasukpenerbitan6BeritaKWSP,12buletinkualitidalamtalianserta4buletinahli.

Stakeholder Engagement

TheEPFcontinued to engagewith stakeholders to ensuretheyreceivethelatestinformationontheFund.In2011,weheldatotalof30interviewsessionswiththeprintmediaandelectronicmedia aswell as 9 briefing sessionswith otherparties with vested interests. The local media carried 40pressreleases,61articlesand6advertisingcampaignsontheEPF.Over thecourseof the year,wecontinued to rollout customer communications through various platformsandthisincludedthepublicationof6BeritaKWSP,12qualityonlinebulletinsand4members’bulletins.



IMPROVEMENTS TO SERVICE DELIVERY CHANNELS AND SYSTEMS

To fulfil customer expectations, we continue to enhanceservicedeliveryeffortsaswellasimproveexistingsystems.In2011,weimplementedthefollowinginitiatives:

Introduction of a New Platform

On28March2011,incollaborationwithPublicBankBerhad,theEPF introduced theContributionPaymentKiosk (CPK).This self-service channel enables employers or theirrepresentativestomakecontributionpaymentswithchequeatselectedEPFbranchesthroughoutMalaysia.Thisenablesafter-office-hour transactions. Two units of the CPKwereinitiallyplacedattheEPFHeadquartersinJalanRajaLautand by the end of 2011, there were 13 CPKs throughoutselected EPF branches. In 2011, we collected a total ofRM87.1millionincontributionsthroughtheCPKs.TheCPKatourPetalingJayahubwasthemostpopularonewithsomeRM55.2millioncollectedin2011.

Enhancements to Call Management Centre Services

In 2011, services of the CMC were extended to contactemployerswhohadnotcreditedcontributionstomembers’accounts.Atotalof900employerswerecontactedtoobtaininformation for us to carry out the crediting of deferredcontributions.TheCMCwasalsogiventheresponsibilityofassisting the Enforcement Department to call employerswhohadyettosettletheircontributionpayments.Atotalof30,000employerswerecontactedin2011toobtainfeedbackonoutstandingcontributions.TheCMCalsosupported theEPFnominationcampaignbycontactingmemberswhohadnotmadenominationsfortheirsavings.


PENAMBAHBAIKAN SALURAN DAN SISTEM PENYAMPAIAN PERKHIDMATAN

Demi memenuhi jangkaan pelanggan, KWSP terusmeningkatkan usaha penyampaian perkhidmatan sertamenambahbaik sistemsediaada.Pada2011,KWSP telahmelaksanakaninisiatifberikut:

Memperkenalkan Platform Baru

Pada 28 Mac 2011, hasil kerjasama dengan Public BankBerhad, KWSP telah memperkenalkan kemudahan KiosBayaranCaruman(KBC).Saluranlayandiriinimembolehkanmajikan serta wakil mereka membuat bayaran carumanmelalui cek di cawangan KWSP yang terpilih di serataMalaysia. Ia memberi kemudahan terutamanya untukmelakukan urusan selepas waktu pejabat. Pada awalnya,duaunitKBCtelahditempatkandiibupejabatKWSPdiJalanRajaLautdanmenjelangpenghujung2011,terdapat13KBCdi serata cawangan KWSP terpilih. Pada 2011 carumanberjumlahRM87.1jutaberjayadikutipmelaluiKBC.KBCdiKWSP Petaling Jaya adalah yang paling popular dengankutipanRM55.2jutapada2011.

Peningkatan kepada Perkhidmatan Pusat Pengurusan Panggilan

Pada 2011, perkhidmatan Pusat Pengurusan PanggilanKWSPtelahdiperluaskanuntukmenghubungimajikanyangbelummengkreditcarumankedalamakaunahli.Sejumlah900 majikan telah dihubungi untuk maklumat lanjut bagimembolehkan KWSP mengkredit tunggakan caruman.Pusat Pengurusan Panggilan juga diberi tanggungjawabmembantuJabatanPenguatkuasaanmenghubungimajikanyangbelummenjelaskanbayarancaruman.Sebanyak30,000majikan telah dihubungi pada 2011 untuk mendapatkanmaklum balas tentang caruman yang belum dijelaskan.Pusat Pengurusan Panggilan turut menyokong kempenpenamaan KWSP dengan menghubungi ahli yang belummembuatpenamaanuntuksimpananmereka.



Increased Usage of Electronic Media

As part of our efforts to enhance collection and creditingactivities relating to member contributions, we continuedtoencouragetherelevantpartiestoutiliseelectronicmediaplatforms. These included conducting transactions viaInternetbankingorusingencryptedCDsanddiskettesthatensureemployers’dataisfullyprotected.

In June 2011, the EPF introduced the mobile version ofmyEPFwebsitefortheconvenienceofsmartphoneusers.Bytheendof2011,atotalof379,391myEPFusershadvisitedthemyEPFwebsitethroughthemobileversion.

In our efforts to empower the public sector’s deliverysystem,weare takingsteps to improvemyEPFwebsitebyrevamping the current portal and related online services.Thisexercisewillseethebestandlatesttechnologyplatformbeing incorporated to ensure our website ismore robust,secure, flexible, informative, and user-friendly. The newwebsite is expected to be launched in the third quarter of2012. Itwill contain additional information aswell as newonlineservicesformemberoremployerusersofi-Akaun.

In the near future, SMS text messages will replace thewithdrawalnotificationsviamailtomembers.Theinitiativewillensurespeedier,moreaccurateandsecureservicedeliveryto members besides reducing our administrative costs.In linewithourefforts tomigrate fromtraditionaldeliverymechanisms to electronic mediums, an e-CommunicationManagementSystem(e-CMS)willbeintroducedtoimprovecommunicationwithmembersandemployersviaelectronicmedia.

Introduction of MyCoID Facility

The MyCoID project was initiated by the Government tofacilitate hassle-free employer registration promotingefficient and effective process. It focuses on the use of asingle corporate identity number (MyCoID) which providesconvenience for employers when dealing directly withvariousgovernmentagencies.TheEPFwasselectedasoneof thepioneeragenciesunder this initiativealongwith theInlandRevenueBoardandSocialSecurityOrganisation.


Peningkatan Penggunaan Media Elektronik

Sebagai sebahagian daripada usaha KWSP untukmempertingkatkan aktiviti kutipan dan pengkreditancaruman ahli, KWSP terus menggalakkan pihak yangberkaitanuntukmemanfaatkanplatformmediaelektronik.Ini termasuk menjalankan urusan melalui perbankaninternet atau menggunakan CD dan disket enkripsi yangmemastikandatamajikandilindungisepenuhnya.

PadaJun2011,KWSPtelahmemperkenalkanversi telefonbimbitbagilamanwebmyEPFuntukkemudahanpenggunatelefonpintar.Menjelangpenghujung2011,seramai379,391pengguna myEPF telah mengunjungi laman web myEPFmenggunakanversitelefonbimbit.

Dalam usaha untuk memperkasa sistem penyampaiansektor awam, KWSP mengambil langkah menambah baiklamanwebmyEPFdenganmerombakportalsemasasertaperkhidmatandalamtalianyangberkaitan.Langkahinibakalmenyaksikan platform teknologi yang terbaik dan terkinidigunapakaibagimemastikanlamanwebKWSPlebihteguh,selamat,fleksibel, informatifdanmesrapengguna.Lamanweb baru ini dijangka dilancarkan pada suku tahun ketiga2012. Ia akan mengandungi maklumat tambahan sertaperkhidmatandalamtalianyangbaruuntukahliataumajikanyangmenggunakani-Akaun.

Dalammasaterdekat,pesananteksSMSakanmenggantikanpemberitahuan pengeluaran melalui mel kepada ahli.Inisiatif ini akan memastikan penyampaian perkhidmatanyanglebihpantas,tepatdanselamatkepadaahlidisampingmengurangkankospentadbiranKWSP.SeiringdenganusahaKWSPuntukberpindahdaripadamekanismepenyampaiantradisional kepada medium elektronik, sebuah SistemPengurusane-Komunikasi(e-CMS)akandiperkenalkanbagimenambah baik komunikasi dengan ahli dan majikanmenerusimediaelektronik.

Memperkenalkan Kemudahan MyCoID

Projek MyCoID yang bermatlamatkan proses yang cekapdan berkesan telah diperkenalkan oleh Kerajaan untukmempermudahkanpendaftaranmajikan.Iamemberitumpuankepada penggunaan nombor pengenalan korporat tunggal(MyCoID) yang memberikan kemudahan kepada majikanapabila berurusan terus dengan pelbagai agensi kerajaan.KWSP telah dipilih sebagai salah satu agensi perintis dibawah inisiatif ini bersama dengan Lembaga Hasil DalamnegeridanPertubuhanKeselamatanSosial.





To ensure the successful implementation of the MyCoIDproject, the EPF is collaborating with the CompaniesCommissionofMalaysia(SSM)toimplementanefficientonlinesystemfornewemployerregistration.Theimplementationistobecarriedoutinthreephases.Thefirstphaseislimitedtocounterservicesandtelephonecalls;thesecondinvolvesonline employer registration; the thirdwill see employersutilisingthepre-registereddatafromMyCoIDwithouthavingtofillinanyregistrationforms.Todate,wehaveimplementedthefirstandsecondphases.

Improvements to Counter Services

In 2011, we upgraded our Limbang branch to providemembersamoreconduciveandcomfortableenvironment.Meanwhile, we relocated the Bayan Baru, Klang, KualaSelangor, Kemaman and Gua Musang branches to new,bigger and strategically located premises to offer greaterconvenience and accessibility to our members. This is inlinewithourobjectiveofreachingouttoourmembersmoreeffectively. To better serve our members, we continuedto train staff, in particular those on the frontline, to boosttheirsoft-skillswhichcomprised70percentofouroveralltrainingprogrammein2011.

Improvements to Existing Documentation

Effective 4 July 2011, improvements were made to thecontents of EPF withdrawal documents encompassing adocumentchecklist,aguidetofillingtheforms,applicationforms and attachment forms. The new improvementsare to provide a hassle-free withdrawal process wherebymembers only need to provide basic details. At the sametime,dataentryerrorshavebeenminimised.Asaresultofthis initiative, the rate of withdrawal defects was reducedto 6.50 per cent in December 2011 from 9.36 per cent inDecember2010.

Bagi memastikan kejayaan pelaksanaan projek MyCoID,KWSP dengan kerjasama Suruhanjaya Syarikat Malaysia(SSM)sedangberusahauntukmelaksanakansebuahsistemdalam talian yang cekap untuk pendaftaranmajikan baru.Pelaksanaannyaakandilakukandalamtigaperingkatsepertiberikut: fasapertamaadalah terhadkepadaperkhidmatankaunter dan panggilan telefon; fasa kedua melibatkanpendaftaranmajikandalamtalian; fasaketigabagi inisiatifmudah ini akan menyaksikan majikan menggunakan dataprapendaftaran daripada MyCoID tanpa perlu mengisisebarang borang pendaftaran. Sehingga kini, KWSP telahmelaksanakanfasapertamadankedua.

Penambahbaikan Perkhidmatan Kaunter

Pada 2011, KWSP telah menaik taraf cawangan Limbangsupayadapatmenyediakanpersekitaranyanglebihkondusifdan selesa. Sementara itu, cawangan Bayan Baru, Klang,KualaSelangor,KemamandanGuaMusangtelahdipindahkanke lokasi strategik yang baharu dan lebih besar bagimenawarkan kemudahan dan senang dikunjungi ahli. IniadalahselarasdenganobjektifKWSPuntukmendekatiahlidengan lebih berkesan. Untuk memberikan perkhidmatanyanglebihbaikkepadaahli,KWSPterusmelatihkakitangan,terutamayangberadadibarisanhadapanbagimemantapkankemahiran insaniah (soft-skills) mereka. Aktiviti latihankemahiraninsaniahmerangkumi70peratusprogramlatihanKWSPsecarakeseluruhanpada2011.

Penambahbaikan kepada Dokumentasi Sedia Ada

Bermula4Julai2011,penambahbaikantelahdilakukankepadakandungan dokumen pengeluaran KWSP (merangkumidokumensenaraisemak,panduanmengisiborang,borangpermohonan dan borang lampiran). Penambahbaikan inibertujuanmenyediakanprosespengeluaranmudahkepadaahli di mana ahli hanya perlu mengisi butiran asaspengeluaran sahaja. Pada masa yang sama, kesilapankemasukandatatelahdapatdiminimumkan.Hasildaripadainisiatif ini, kadar kesilapan pengeluaran telah dapatdikurangkankepada6.50peratuspadaDisember2011dari9.36peratuspadaDisember2010.



SOCIAL SECURITY-ORIENTATED ACTIVITIES

TheEPFiscommittedtoelevatingthewell-beingofmembersof the society by undertaking corporate responsibilityinitiativesthatfocusoneducation,particularlyintheareasofacademicresearchandthroughformulatingpoliciesthatpromotesocialsecurityatoldage.

EXCELLENT STUDENT SCHOLARSHIP PROGRAMME

The EPF Excellent Student Scholarship Programme wasintroduced in 2006 as part of its efforts to establish aqualityworkforcewithintheEPF.Thisprogrammebenefitsundergraduateswhoarepursuing theirstudiesatpremieruniversities abroad as well as pre-university studentsattending local colleges. The scholarship programmeencompassesfieldsofstudysuchasEconomics,Investment,Finance, Accounting, Actuarial Science, Mathematics,Quantitative Analysis, Physics, Engineering, Law andInformation Technology. From 2006 to 2011, a total of15graduateswereawardedscholarships.Todate,eighthavegraduatedandareemployedbytheEPF,whiletheremainingsevenarestillpursuingtheirstudies.

Beginning 2012, the EPF will collaborate with the PublicServiceDepartment (JPA)on thestudent intakeunder thescholarshipprogramme.WebelievethatoureffortswilldomuchtoboosthumancapitaldevelopmentwithintheEPF.

Supporting the Nation’s Talent Pool

In support of theGovernment’s efforts to provide relevantworking experience for unemployed graduates, the EPFselected12graduatesfortheSkimLatihanSiswazah(SLS).

AKTIVITI BERORIENTASI KESELAMATAN SOSIAL

KWSP komited dalam mempertingkatkan kesejahteraananggota masyarakat melalui pelaksanaan inisiatiftanggungjawabkorporatyangtertumpukepadapendidikan,khususnyadalambidangpenyelidikanakademikdanmenerusipenggubalandasaryangmenggalakkankeselamatansosialpadausiatua.

PROGRAM BIASISWA PELAJAR CEMERLANG

Program Biasiswa Pelajar Cemerlang KWSP telahdiperkenalkan pada 2006 sebagai sebahagian daripadausahanya untuk mewujudkan tenaga kerja berkualiti diKWSP. Program ini memberi manfaat kepada mahasiswayangmelanjutkanpelajarandiuniversititerulungluarnegaraserta pelajar prauniversiti di kolej tempatan. ProgrambiasiswainimerangkumibidangpengajiansepertiEkonomi,Pelaburan,Kewangan,Perakaunan,SainsAktuari,Matematik,Analisis Kuantitatif, Fizik, Kejuruteraan, Undang-Undangdan Teknologi Maklumat. Dari 2006 hingga 2011, seramai15 graduan telah dianugerahkan biasiswa. Sehingga kini,lapan daripadanya telah menamatkan pengajian danberkhidmatdenganKWSP,sementaratujuhoranglagimasihdalampengajian.

Bermula 2012, KWSP akan bekerjasama dengan JabatanPerkhidmatanAwam(JPA)berhubungpengambilanpelajardibawahprogrambiasiswaini.Kamipercayabahawausahaini dapatmenyumbang kepada pemantapan pembangunanmodalinsandiKWSP.

Menyokong Kumpulan Bakat Negara

Sebagai menyokong usaha Kerajaan untuk memberipengalamankerjayangrelevankepadagraduanyangtidakbekerja, seramai 12 orang graduan telah menjalani SkimLatihanSiswazah(SLS)padatahun2011.


INISIATIF TANGGUNGJAWAB KORPORATCoRPoRate ResPonsiBiLitY initiatiVes



INISIATIF KUALITIQUaLitY initiatiVes


As we pursue our ambition of becoming an outstandingsocialsecurityorganisation,theEPFcontinuestomaintainhigh standards of excellence and conform to recognisedglobal quality standards. 2011 saw us following throughon the implementation of quality initiatives and rolling outinnovations based on best practices in the QualityManagement System. The teams within the EPF alsoobserved theorganisation’sQualityPolicywhichsawthemprovidinginnovativeandhighqualityservicestomembers.

MS ISO 9001:2008 RECERTIFICATION

On28January2011,theEPFsucceededinobtainingMSISO9001:2008recertificationfor2012to2014.Thisachievementclearlyillustratesourcommitmenttowardsenhancingservicedelivery and providing quality services to our customers.The certification encompasses EPF’s key processeswhichareregistration,contribution,withdrawal,enforcementandfrontlineservices.Byimprovingourservicedeliveryeffortsand benchmarking ourselves against globally recognisedstandards, we are enhancingmembers’ confidence in theEPF’sroleasasocialsecurityorganisation.

Best EPF Branch Quality Award 2010

the Best ePF Branch Quality award event is an annual programme that gives recognition to ePF branches throughout malaysia that have shown quality performance in their management and services. the award categories include service, enforcement, contributions management and finance, administration, best branch manager and best counter decoration during festive seasons. the presentation ceremony for the Best ePF Branch Quality award 2010 was held on 8 april 2011 at the ePF institute in Bangi, selangor.

EPF INNOVATION PROGRAMME (PIE)

the ePF innovation Programme or Pie inter-departmental competition serves as a platform for the generation of creative and innovative ideas that have a direct impact on departmental quality and productivity. every department within the ePF is obliged to propose three innovative ideas that have yet to be implemented within the organisation. these ideas are to focus on eight main areas i.e. improvements to work processes; improvements in services; investment management; cost savings; internal customers; internal communications; time management and problematic employees.

Dalam usaha untuk mencapai matlamat menjadi sebuahorganisasi keselamatan sosial terulung, KWSP terusmengekalkan standard kecemerlangan yang tinggi danmematuhistandardkualitiglobalyangdiiktiraf.Tahun2011menyaksikanKWSPmeneruskanpelaksanaaninisiatifkualitidanmenjalankaninovasiberasaskanamalanterbaikdalamSistem Pengurusan Kualiti. Kakitangan KWSP turutmematuhiDasarKualitiorganisasiyangmanamenyaksikanmereka memberikan perkhidmatan yang inovatif danberkalibertinggikepadapelanggan.

PENSIJILAN SEMULA MS ISO 9001:2008

Pada28Januari2011,KWSPberjayamendapatkanpensijilansemulaMSISO9001:2008bagitempoh2012sehingga2014.Pencapaian ini jelas membuktikan iltizam KWSP ke arahmeningkatkanpenyampaianperkhidmatandanmemberikanperkhidmatan berkualiti kepada pelanggan. Pensijilan inimerangkumi proses utama KWSP iaitu pendaftaran,caruman,pengeluaran,penguatkuasaandanperkhidmatanbarisanhadapan.Denganmenambahbaikusahapenyampaianperkhidmatan dan menanda aras KWSP kepada standardyang diiktiraf di peringkat global, kami meningkatkankeyakinan ahli terhadap peranan KWSP sebagai sebuahorganisasikeselamatansosial.

Anugerah Kualiti Cawangan KWSP Terbaik 2010

AcaraAnugerahKualitiCawanganKWSPTerbaikmerupakanprogram tahunan yang memberi pengiktirafan kepadacawanganKWSPdiseluruhMalaysiayangtelahmenunjukkanprestasi berkualiti dalam pengurusan dan perkhidmatanmereka. Kategori anugerah termasuk perkhidmatan,penguatkuasaan, pengurusan caruman dan kewangan,pentadbiran,penguruscawanganterbaikdanhiasankaunterterbaik semasa musim perayaan. Majlis penyampaianAnugerahKualitiCawanganKWSPTerbaik2010telahdiadakanpada8April2011diInstitutKWSPdiBangi,Selangor.

PROGRAM INOVASI KWSP (PIE)

ProgramInovasiKWSPatauPIE, iaitupertandinganantarajabatan ini bertindak sebagai wadah untuk menjana ideakreatif dan inovatif yangmemberi impak langsung kepadakualiti dan produktiviti jabatan. Setiap jabatan di KWSPdiwajibkan mencadang tiga idea inovatif yang belumdilaksanakandidalamorganisasi.Ideainiharuslahtertumpukepada lapan bidang utama, iaitu penambahbaikan proseskerja;penambahbaikanperkhidmatan;pengurusanpelaburan;penjimatankos;pelanggandalaman;komunikasidalaman;pengurusanmasadanpekerjabermasalah.


INISIATIF KUALITIQUaLitY initiatiVes


Innovative andhigh-impact ideas that are in tunewith theEPFvisionandmissionandthatareabletobeimplementedenterprise-widewillbechosen.Asidefromreceivingprizes,thewinners’ideasshallbeimplementedbytheManagementthe following year. The PIE platform offers our staff theopportunitytocontribute innovative ideasandassistsus inelevatingtheorganisation’slevelofqualityandefficiencyasawhole.

Asof16December2011,atotalof97ideasweresubmittedto the Management Evaluation Panel Committee. TheManagement Evaluation Panel has yet to select top-mostinnovativeideatobeimplementedenterprise-widein2012.

EPF INNOVATION DAY PROGRAMME (PHI 2011)

In2011,TheEPFInnovationDayProgramme(PHI)enteredinto its second year of implementation and was extendedtoallEPFbranches.Theprogrammeservesto inculcateaculture of quality, creativity and innovation among branchstaffnationwide.In2011,threezoneswereselectedtotakepartinthePHI.TheprogrammefortheEastZonewasheldatEPFKuantanon26April2011,thePHIfortheSabahZoneatEPFKotaKinabaluon7July2011andthePHIforthenorthZoneatEPFJohorBahruon17november2011.

These comprehensive one-day PHI programmes involvedinteractive exercises relating to quality and innovationmanagementandencompassedactivitiessuchasbriefings,exhibitions, brain teasers, quizzes, puzzles and treasurehunts.Allthesewereskill-orientatedactivitiesdesignedtoboostcreativityandinnovativethinkingamongparticipants.

PHIwillcontinuein2012withfocusonnewEPFinnovationinitiativeasfollows:

1. EPFinnovationdefinition;2. EPFInnovationmanagementframework;3. Sistem Idea Inovasi (SII)/Innovation Ideation System

(IIS)–toprovideaplatformforallstafftosubmitideasonlinetotheEPF’sManagement.

Idea inovatif dan berimpak tinggi yang seiring dengan visidan misi KWSP serta boleh dilaksanakan di seluruhorganisasi akan dipilih. Selain menerima hadiah, ideapemenangakandilaksanakanolehpihakPengurusanpadatahunberikutnya.PlatformPIEinimemberipeluangkepadakakitangan untuk menyumbang idea yang inovatif danmembantu KWSP mempertingkatkan tahap kualiti dankecekapansecarakeseluruhan.

Setakat 16 Disember 2011, sebanyak 97 idea telahdikemukakan kepada Jawatankuasa Panel PenilaianPengurusan.PanelPenilaianPengurusan inimasih belummemilih ideapaling inovatifuntukdilaksanakandiseluruhorganisasipada2012.

PROGRAM HARI INOVASI KWSP (PHI 2011)

Pada 2011, Program Hari Inovasi (PHI) KWSP memasukitahunkeduapelaksanaannyadantelahdiperluaskankepadasemuacawanganKWSP.Programiniberperananmenyemaibudayakualiti,kreativitidaninovasidikalangankakitangancawangandiseluruhnegara.Pada2011,tigazontelahdipilihuntukmengambil bahagian dalam PHI. Program bagi ZonTimurtelahdiadakandiKWSPKuantanpada26April2011,PHIuntukZonSabahdiadakandiKWSPKotaKinabalupada7Julai2011danPHIuntukZonUtarapulatelahberlangsungdiKWSPJohorBahrupada17november2011.

Program sehari PHI yang komprehensif ini melibatkanlatihaninteraktifyangberkaitandenganpengurusankualitidan inovasidanmeliputiaktivitiseperti taklimat,pameran,menduga akal, kuiz, teka-teki dan mencari harta karun.Kesemua aktiviti ini adalah berorentasikan kemahiran dandirangkabagimenggalakkanpemikirankreatifdan inovatifdikalanganpeserta.

PHI akan diteruskan pada tahun 2012 dengan tumpuanterhadapinisiatifinovasiKWSPsepertiberikut:

1. DefinisiinovatifKWSP;2. RangkakerjapengurusaninovasiKWSP;3. Sistem Idea Inovasi (SII)/Innovation Ideation System

(IIS)–menyediakanplatformuntuksemuakakitanganmengemukakan idea dalam talian kepada pihakPengurusanKWSP.



PERISTIWA PENTING SELEPAS TAHUN KEWANGANKeY eVents aFteR tHe FinanCiaL YeaR


DECLARATION OF DIVIDEND FOR 2011

InFebruary2012,theBoardwiththeapprovaloftheMinisterof Finance, declared a dividend of 6.00 per cent for thefinancialyearended31December2011.ThisdividendcameonthebackofourhighestevernetincometodateofRM25.08billion and is a significant improvement of 20 basis pointsover the rateof 5.80per centpaidout for2010.Dividendswerecredited tomembers’accountson20February2012.For the 2011 dividend pay-out, the EPF requires RM4.08billion topayaoneper centdividend rateasa result of alargermembership base. This represents a 9.44 per centincreaseovertheamountofRM3.73billionperonepercentdividendratefor2010.

PENGISYTIHARAN DIVIDEN UNTUK TAHUN 2011

Pada bulan Februari 2012 Lembaga dengan kelulusanMenteri Kewangan, telah mengisytiharkan kadar dividen6.00peratusuntuk tahunkewanganberakhir 31Disember2011. Dividen ini dapat diberikan disebabkan pendapatanbersihtertinggipernahdicapaisetakatinisebanyakRM25.08biliondanmerupakanpeningkatanyangketarasebanyak20mataasasberbandingkadar5.80peratusdividenpada2010.Dividen dikreditkan ke akaun ahli pada 20 Februari 2012.Bagi pembayaran dividen tahun 2011, KWSPmemerlukanRM4.08 bilion untukmembayar setiap satu peratus kadardividendisebabkanbilanganahliyangbertambahbesar.Inimenunjukkanpeningkatansebanyak9.44peratusberbanding3.73bilionyangdiperlukanuntuksetiapsatuperatuskadardividenpada2010.


OUTLOOK FOR 2012

Theyear2012issettobeaverychallengingyear.TheIMFhaddowngradeditsforecastsfor2012reflectingdeterioratingglobaleconomicconditions.Concernsabouttheperformanceofthedevelopedeconomies,inparticulartheEuroarea,stilllinger and there are expectations of possible furtherdownwardrevisions,especially iftheEuropeanleadersfailto reach an agreement to solve their predicament.nonethelesstherecenteconomicdata,particularlyfromtheUS,seemtosuggest thatglobalrecovery isslowlygainingmomentum and risks appear to be more balanced nowespecially after the introduction of the ECB’s 3-year LongTermRefinancingOperation,whichreducedfinancialstressandtheriskofasystemicpanicinglobalfinancialmarkets.

For Malaysia, the Government in 2012 Budget anticipatesthat theeconomywillgrowbetween5.0and6.0percent in2012,bolsteredprimarilybyresilientdomesticdemand,withprivateconsumptionexpected toremainresilientsupportedbythegovernmentservants’salaryrevision,cashhandoutsbythegovernmentandresilientcommodityprices.However,thelarge overhang of household debtmay bring downside riskto consumption growth. Meanwhile, investment activitieswhich remained robust in fourth quarter are likely tocontinuetrendingupward,underpinnedbytheimplementationofprojectsundertheEconomicTransformationProgrammeand10thMalaysianPlan.

Malaysia is vulnerable to the global economic slowdown,although intra-regional is gaining importance in recentyears. Besides that, Malaysia still cannot decouple itselffromtheUSandEuropewhichtakeupacombinedcloseto19percentofourtotalexports.Assuch,exportsareexpectedto moderate in 2012 following weak demand from thedeveloped economies and softer commodity prices.nonetheless, exposures to European banks are small andhence we foresee no potential stresses on the domesticfinancialmarketfollowingthedeleveragingoftheEuropeanbankingsector.Yet,thethreatoffinancialmarketwillcomefromasuddenmassiveoutflowofmoneytriggerbyashockintheglobaleconomy,whichlikelytohaveanadverseimpacton our financial market and currency, given very highholdings of foreign investors in our domestic financialassets.

PROSPEKPRosPeCts

TINJAUAN UNTUK 2012

Tahun2012bakalmenjanjikantahunyangmencabar.TabungKewanganAntarabangsa(IMF)telahmenurunkanunjurannyauntuk 2012 membayangkan keadaan ekonomi global yangsemakin buruk. Kebimbangan tentang prestasi ekonomimaju, khususnya di kawasan Eropah masih wujud danterdapat jangkaan kemungkinan berlakunya semakanmenurun yang selanjutnya, terutamanya jika pemimpinEropah gagal mencapai persetujuan dalam menanganikemelutmereka.namun,berdasarkandataekonomiterkini,khususnya daripada Amerika Syarikat, mencadangkanpemulihan globalmemperolehimomentumsederhanadanrisikonyakelihatanlebihstabilselepaspengenalanOperasiPembiayaan Semula Jangka Panjang (LTRO) 3 tahun olehBankPusatEropah(ECB)yangakanmengurangkantekanankewangandanrisikopanikdalampasarankewanganglobal.

Bagi Malaysia, Kerajaan dalam Bajet 2012 menjangkakanekonomiakanberkembangdiantara5.0dan6.0peratuspada2012, disokong terutamanya oleh permintaan domestik yangberdayatahandenganpenggunaanswastakekalberdayatahandisokongolehsemakansemulagajikakitanganawam,bayarantunaiolehkerajaandanhargakomoditiyangmampubertahan.Bagaimanapun,hutangisirumahyangbesarbolehmembawarisikopenurunankepadapertumbuhanpenggunaan.Sementaraitu, aktiviti pelaburan yang kekal kukuh pada suku tahunkeempat akan terus menaik, disokong oleh perlaksanaanprojek-projek di bawahProgramTransformasi Ekonomi danRancanganMalaysiaKe-10.

Malaysiamasih terdedahkepadakejatuhanekonomidunia,walaupunhubunganserantausemakinpentingpadatahun-tahunkebelakanganini.Disampingitu,Malaysiajugamasihtidak boleh mengasingkan diri dari Amerika Syarikat danEropahkeranajumlaheksportkekedua-duabenuatersebuthampir19peratusdaripadajumlaheksportnegara.Olehitu,eksportdijangkasederhanapada2012berikutanpermintaandaripadaekonomimajudanhargakomoditiyanglemah.Akantetapi, pendedahan kepada bank-bank Eropah adalah kecildankamimenjangkakantiadatekanandipasarandomestikberikutan pengurangan hutang sektor perbankan Eropah.Bagaimanapun,ancamanalirankeluarsecarabesar-besaranwang yang dicetus oleh kejutan dalam ekonomi globalberkemungkinan akan memberikan kesan buruk ke ataspasaran kewangan dan mata wang domestik, disebabkanpegangan pelabur asing yang tinggi dalam aset kewangandomestiknegara.




PROSPEKPRosPeCts

Thatsaid,Governmentstillhassufficientcapacityinitsfiscalposition tomanoeuvre ifMalaysia’seconomicperformanceturnsouttobeworsethanexpected.TheBnM,meanwhilehastheabilitytoloosenitsmonetarystanceifrisksongrowthare skewed to the downside following the volatile externalenvironment.

Despite the measures introduced by the policy makers tolimitthepossibleadverseeffectdownsiderisksremain.TheextremelyfragileconditionintheEuroarea,whichalreadydiminishedsentiments,couldperhapsultimatelybeseeninintensification of the negative feedback loops betweensovereignandbankfundingpressures.Insufficientprogressindevelopingmedium-termfiscalconsolidationplansintheUnitedStatesandJapanmaytriggerpotentialstressintheglobal financial market. Meanwhile, risks relate to thepossibility of a hard landing in China cannot be ruled outfollowing the lag impact of monetary tightening and lessfavourable external environment. Rising tension in theMiddle East may also pose a threat on global crude oilprice.

namun begitu, kerajaan masih mempunyai ruang yangmencukupi dari segi kedudukan fiskal untuk digerakkansekiranya prestasiMalaysiamenjadi lebih buruk dari yangdijangkakan. Sementara itu, Bank negara Malaysia jugamemiliki keupayaan untuk melonggarkan pendiriankewangan jika risiko terhadap pertumbuhan cenderungkepadakekanganyangtimbulberikutanpersekitaranluaranyangtidakmenentu.

Walaupunpelbagailangkahtelahdiambilolehpembuatdasaruntukmengurangkansegalaancamanyangberkemungkinan,risikotetapada.KeadaanyangamatrapuhdikawasanEurodengansentimenyangberkurangan,mungkinbolehdilihatdalammaklumbalas negatif antara tekanan pinjamandanpembiayaanbank.Kurangkemajuandalammembangunkanrancangan konsolidasi fiskal jangka sederhana di AmerikaSyarikat dan Jepun boleh mencetuskan tekanan dalampasaran kewangan global. Sementara itu, risiko berkaitankemungkinanberlakukemelesetanekonomidiChina tidakbolehdiketepikanberikutanlangkahmengetatkankewangandan persekitaran luaran yang kurangmemberangsangkan.KeteganganyangsemakinmeningkatdiTimurTengahjugabolehmendatangkanancamankepadahargaminyakmentahglobal.




PENGHARGAANin aPPReCiation

OnbehalfoftheEPFManagementteam,Iwishtoexpressmysincereappreciation to theChairmanaswell asMembersof the Board and Investment Panel, for their insights,guidanceandsupport throughoutayearofchallengesandopportunities. I alsowish to conveymy heartfelt gratitudeto all the EPF staff for the spirit of excellence that theyhaveshowninundertakingtheirdutiesandfordeliveringaconsistentlyhighlevelofcustomerservice.

To all members of the EPF, employers as well asrepresentatives of the media, a big “thank you” from allof us here at theEPF for your steadfast support and kindcooperation.IamalsoindebtedtotheMinistryofFinanceandothergovernmentagenciesfortheirunswervingcooperationandcontinuoussupportshowntotheEPF’sManagement.

Aswegoforwardintoachallengingyear,ourstakeholderscanrestassuredthatwe,theEPF,willcontinuetoimplementanastuteassetallocationstrategywhilefurtherbuildingourfundamentals and strengthening operational efficiencies. Icalluponallstakeholderstolendustheiruntiringsupportaswecontinuetomakestrongadvancesforwardtoachieveour ambition of becoming a world-class social securityorganisation.

Thankyou.

Bagi pihak Pengurusan KWSP, saya ingin menyampaikanpenghargaanikhlassayakepadaPengerusidanAhliLembagaserta Panel Pelaburan di atas wawasan, panduan dansokonganmerekadi sepanjang tahun yangpenuhpeluangdan cabaran. Saya juga ingin mengucapkan terima kasihyang setulusnya kepada semua kakitangan KWSP atassemangat kecemerlangan yang telah dipamerkan dalammelaksanakantanggungjawabmerekadankeranakonsistendalam memberikan tahap perkhidmatan pelanggan yangtinggi.

Kepada semua ahli KWSP, majikan serta wakil media,berbanyak-banyak ‘terima kasih’ daripada kami semua diKWSP di atas sokongan padu serta kerjasama anda. SayaterhutangbudikepadaKementerianKewangandanagensikerajaan yang lain di atas kerjasama dan sokonganberterusan daripada mereka kepada pihak PengurusanKWSP.

Dalammelangkahmemasukitahunyangmencabar,KWSPinginmeyakinkanparapemegangkepentinganbahawakamiakan terusmelaksanakan strategi alokasi aset yang bijaksambil terus memantapkan asas dan memperkukuhkankecekapan operasi. Saya inginmenyeru semua pemegangkepentingan agar menghulurkan sokongan yang tidakmengenal jemu dalam usaha KWSP melangkah maju kehadapanuntukmencapaihasratmenjadisebuahorganisasikeselamatansosialbertarafdunia.

Terimakasih.

Azlan ZainolKetuaPegawaiEksekutif/ChiefExecutiveOfficer



KWSPKOMITEDDAnAKAnTERUSBERUSAHAUnTUKMEnCAPAIPIAWAIAnTERTInGGITADBIRURUSKORPORATDALAMORGAnISASISEBAGAILAnGKAHASASDALAMMELAKSAnAKAnTUGASDAnTAnGGUnGJAWABFIDUSIARInYAUnTUKMELInDUnGISIMPAnAnAHLI.

EPFISCOMMITTEDTOCOnTInUOUSLYSTRIVEFORTHEHIGHESTSTAnDARDOFCORPORATEGOVERnAnCETHROUGHOUTTHEORGAnISATIOnASAFUnDAMEnTALPARTOFDISCHARGInGITSFIDUCIARYDUTYAnDRESPOnSIBILITYTOPROTECTMEMBERSSAVInG.

PERNYaTaaN TaDBIR uRuS KORPORaTSTATEMEnTOnCORPORATEGOVERnAnCE


EPF Board continues to be committed to inspire goodcorporate governance practices to protect the interest ofall stakeholders and the reputation of the Fund. With oursignificant presence in equity market, we continuouslyencourageourinvesteecompaniestoadoptsoundcorporategovernance practices in the organisation. In line with thisaspiration, EPF had in 2011 initiated and participated invarious corporate governance activities, among othersare participating in corporate governance conference andforum, conducting regular meetings with companies toaddressmatters pertaining to performance and corporategovernance, dialogue sessions with regulators andengagementwithEPF’sExternalFundManagersandotherInstitutionalInvestors.

EPF is committed to continuously strive for the higheststandardofcorporategovernancethroughouttheorganisationasa fundamentalpartofdischarging itsfiduciarydutyandresponsibilitytoprotectandenhancememberssavingandtoensuresustainablegrowth.TheEPFadheredtotheprinciplesset out in organisation such as the value of integrity,transparencyandaccountabilitythroughtheimplementationof internal and external controls in all transactions. In aneffort to improve internal controls, EPF has implementedChineseWallPolicyandProceduresinJanuary2011aimedatenhancingcontroltotheuseandprotectionofpricesensitiveinformationwithinEPF.

Lembaga KWSP terus komited untuk mempraktis amalanterbaik tadbir urus korporat untuk melindungi kepentingansemua ahli dan juga reputasi KWSP. KWSP melaluipenglibatannyadalampasaranekuitiakanterusmenggalakkansyarikat-syarikatpelaburannyauntukmempraktiskanamalanterbaik tadbir urus korporat di dalam organisasi. Selarasdenganaspirasiini,padatahun2011,KWSPtelahmenghadiridan menyertai pelbagai aktiviti-aktiviti berkaitan tadbir uruskorporat. Antaranya dengan mengambil bahagian dalampersidangan dan forum tadbir urus korporat, mengadakanperjumpaan yang kerap dengan pihak syarikat untukmembincangkanisu-isuberkaitandenganprestasidantadbirurus korporat, sesi dialog bersama pihak berkuasa sertainteraksi bersama pengurus dana luar KWSP dan pelabur-pelaburinstitusilain.

KWSP komited dan akan terus berusaha untuk mencapaipiawaian tertinggi tadbir urus korporat dalam organisasisebagailangkahasasKWSPdalammelaksanakantugasdantanggungjawab fidusiarinya untuk melindungi danmeningkatkansimpananahlisertamemastikanpertumbuhanyangberterusan.KWSPtelahmematuhiprinsip-prinsipyangdinyatakandalamorganisasisepertinilaiintegriti,ketelusandanakauntabilitimelaluipelaksanaankawalandalamandanluaran dalam semua urus niaga. Dalam usaha untukmemperbaikikawalandalaman,KWSPtelahmelaksanakanPolisi Chinese Wall dan Prosedur pada Januari 2011bertujuan untuk meningkatkan kawalan penggunaan danperlindunganmaklumatsensitifdalamKWSP.

PERNYATAAN TADBIR URUS KORPORATstatement on CoRPoRate GoVeRnanCe




Untuk menyediakan maklumat yang kukuh dan tepat pada masanya berkaitan aktiviti-aktiviti pelaburan, KWSP telahmengeluarkan laporan setiap suku tahun berhubung pelaburannya yang merangkumi maklumat tentang alokasi asetKWSP,pendapatanyangdijanahasildaripadaaset-aset tersebut, jumlahsaizdanaKWSPsertaprospekbagisuku tahunberikutnya. Di samping itu, KWSP juga telah menyenaraikan 30 saham terbesar yang dilabur pada setiap suku tahununtukmemberimaklumatkepadapemegangberkepentinganmengenaipeganganKWSPdalamsyarikat-syarikatawamdiMalaysia.

Toprovideaccurateandtimely informationon its investmentactivities,EPFdisclosedaquarterlyreportwhichconstitutestheinformationonassetallocation,revenuegeneratedfromeachassets,totalfundsizeandoutlookforthefollowingquarter.Inaddition, the listof top30equity investmentsofEPF isalsobeingdisclosedonquarterlybasis toprovidestakeholderswithinformationonEPFholdingsinpubliclistedcompaniesinMalaysia.


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TheEPFcontinues topromotebestpracticesonabroaderbasisthroughactionsintheareaofpublicpolicy,collaborationwith other shareholders, engagementwith companies andenhancedcooperationwiththelocalandinternationalbodiestoaddressissuesoncorporategovernance.On28February2011, EPF hosted an “International Corporate Governancenetwork(ICGn)Mid-yearConference”inKualaLumpur.Theconferencewasfocusingonissuesofcorporategovernancein Asia and attended by more than 250 delegates fromvariouscountries.

KWSP jugaakansentiasamempromosikanamalan terbaiktadbir urus korporat dengan pendekatan yang lebih luasmelaluipenyertaandalampenetapanpolisiawam,kerjasamadengan para pemegang saham lain, interaksi berterusandengan syarikat-syarikat serta peningkatan kerjasamadengan badan-badan tempatan dan antarabangsa untukmenangani isu-isu berkenaan tadbir urus korporat. Pada28Februari2011,KWSPtelahmenganjurkan“InternationalCorporateGovernancenetwork(ICGn)Mid-yearConference”di Kuala Lumpur. Persidangan yang memberi tumpuankepada isu-isu tadbir urus korporat di Asia telah dihadirilebihdaripada250pesertadaripelbagainegara.




TheEPFalsocontinuetoengageregulatorstoaddressissueson corporate governance. In line with this, EPF has beenactivelyinvolvedinprovidingfeedbackontheformulationofSCCorporateGovernanceBlueprint 2011 to theSecuritiesCommissionofMalaysia.TheSecuritiesCommissionduringthelaunchofitsCorporateGovernanceBlueprint2011on8July2011hasrecognisedtheimportantroleof institutionalinvestors in the enrichment of corporate governancepracticesbyharnessingtheresourcestonetworkasagrouptopromotegovernancepracticesoftheirinvesteecompanies.EPFstronglybelievesthatthesaidblueprintwouldbeabletoenhancemarket confidence and spur growth toMalaysia’scapitalmarketatlarge.

As part of the initiatives to enhance the standard ofcorporate governance and to instill professionalism inthe organisation, EPF together with International CenterFor Leadership in Finance (ICLIF) have jointly organised aCorporate Governance Programme on 29 november 2011.The programmewas facilitated by a renowned and expertspeaker from Harvard Business School mainly for theEPF’sBoard ofDirectors, InvestmentPanelMembers, TopManagementandnomineeDirectors.ThisprogrammehasemphasisedonthefiduciaryresponsibilitiesofBoardandtherole of Independent and non Independent Directors in theorganisation.

As a provident fund, EPF will continue to invest in capitalmarketsandreliesonmarketreturnstogeneratedividendsto its members. EPF believes that a good corporategovernance practice is important in attracting andretaining capital investment and reinsuring sustainabilityand profitability of business performance. As such, EPFhas incorporated the corporate governance criteria (i.e.disclosureand transparency) in itsstockselectionprocessthat serve as guidance to make investment decision. EPFhas also witnessed significant improvement and raisingawareness of corporate governance practices withinits investee companies, since the introduction of EPF’sCorporate Governance Principles and Voting Guidelines inMay2010.Withthat,EPFwillcontinuetovoteinaccordancetoitsvotingguidelinestopromotebestcorporategovernancepracticeamong its investeecompanies. It isacknowledgedthat good governance reduces companies’ vulnerability tofinancialcrisisandimprovestransparencywhichwillleadtosustainablecapitalmarketdevelopment.

KWSP juga akan terus terlibat dengan pengawal seliauntuk menangani isu-isu mengenai tadbir urus korporat.Selarasdenganini,KWSPtelahterlibatsecaraaktifdalammenyediakan maklum balas mengenai Rangka TindakanTadbirUrusKorporatSC2011kepadaSuruhanjayaSekuritiMalaysia.SuruhanjayaSekuritisemasapelancaranRangkaTindakanTadbirUrusKorporat2011pada8Julai2011telahmengiktiraf kepentingan peranan pelabur institusi dalammempromosikan amalan tadbir urus korporat denganmemanfaatkan sumber-sumber dan berfungsi sebagaisatu pertubuhan yang menggalakkan amalan tadbir uruskorporatsyarikat-syarikatpelaburanmereka.KWSPpercayabahawapelan tindakan tersebutakandapatmeningkatkankeyakinanpasarandanmerangsangpertumbuhanpasaranmodalMalaysiapadaumumnya.

Sebagai sebahagian daripada inisiatif untukmeningkatkanpiawaian tadbir urus korporat dan untuk menanamkanprofesionalisme dalam organisasi, KWSP bersama-samadenganPusatKepimpinanKewanganAntarabangsa (ICLIF)telah menganjurkan Program Tadbir Urus Korporat pada29 november 2011. Program ini, yang dikendalikan olehpenceramah dan pakar yang terkenal daripada HarvardBusiness School, diadakan terutamanya untuk LembagaPengarah, Ahli Panel Pelaburan, Pengurusan Atasan danPengarah-pengarah nominee KWSP. Program ini telahmenekankantanggungjawabfidusiariLembagadanperananPengarah Bebas dan Bukan Bebas di dalam sesebuahorganisasi.

Sebagaipemegangamanahdanapersaraan,KWSPsecaraberterusan akanmelaksanakan pelaburan dalam pasaranmodal dan bergantung pada pulangan pasaran untukmenjanadividenkepadaahli-ahlinya.KWSPpercayabahawaamalantadbiruruskorporatyangbaikadalahpentinguntukmenarikdanmengekalkanpelaburanmodaldanmemastikankesinambungan dan keuntungan sesebuah perniagaan.Oleh itu, KWSP telah mengambil kira kriteria tadbir uruskorporat(sebagaicontohpendedahandanketelusan)dalamproses pemilihan saham yang bertindak sebagai panduanuntuk membuat keputusan pelaburan. KWSP juga telahmenyaksikan peningkatan yang ketara dan peningkatankesedaran mengenai amalan tadbir urus korporat dalamsyarikat-syarikat pelaburannya, sejak pengenalan PrinsipTadbirUrusKorporatdanGarisPanduanPengundianKWSPpada Mei 2010. Dengan itu, KWSP akan terus mengundiberdasarkangarispanduanpengundianbagimenggalakkanamalan tadbir urus korporat terbaik di kalangan syarikatpelaburannya. Telah diakui bahawa tadbir urus korporatyang baik dapat mengurangkan pendedahan syarikatterhadapkrisiskewangandanmeningkatkanketelusanyangseterusnyaakanmembawakepadapembangunanpasaranmodalyangmampan.


THE BOARD AND INVESTMENT PANEL

Main Duties and Responsibilities of the Board and Investment Panel

The Board assumes a number of specific responsibilitiessuch as overseeing the implementation of policies relatedtotheoperationsoftheEPF,identifyingkeyrisksareasandtakingappropriatestepstomanagetheserisks,aswellasreviewingtheadequacyandintegrityoftheinternalcontrolsystems. Apart from the Board, the EPF Act 1991 alsoprovides for the establishment of an Investment Panel toprovide strategic directions on investment related issues.The Investment Panel determines and approves theinvestmentactivities inlinewiththeguidelines,policiesonriskcontrolandassetallocation.

Appointment to the Board and Investment Panel and CEO

MembersoftheBoardandtheInvestmentPanelaswellastheChiefExecutiveOfficer(CEO)areappointedbytheMinisterofFinance.TheMinisterofFinanceappointsonlythosewhohaveproventrackrecordsofintegrity,abilityandreliabilitytoundertaketheirobligationseffectively.TheappointmentsareforeachtermoftwoyearsandtheMinisterofFinancewillthenreviewtheperformanceandeffectivenessofindividualsofBoardandInvestmentPanelMembers.

Composition of the Board and Investment Panel

TheEPFAct1991dictatesthattheBoard’smembershipshouldnotbemorethan20persons,inclusiveoftheChairmanandCEO. In2011, thereare18Boardmemberswhich includesthe Chairman and the CEO, all with non-executive powersexcept the CEO as the ex-officio member. Apart from theChairman and the CEO, the Board’s composition includesrepresentativesfromvariousstakeholders,whichconsistsoffivemembersrepresentingtheGovernment,fourmembersrepresenting Employers, four members representing theEmployees and three Professional members from variousbackgrounds.

The InvestmentPanel,headedbytheChairmanof theEPFBoard,consistsofsevenmembersandhasrepresentativesfrom Bank negara, the Ministry of Finance, and threeprofessionalmembers.TheCEOistheex-officiomember.

ThemembersoftheEPFBoardtogetherwiththeInvestmentPanelarefromawidespectrumofexperience inprovidingcompetence and strength in discharging their dutieseffectively.


LEMBAGA DAN PANEL PELABURAN

Tugas dan Tanggungjawab Utama Lembaga dan Panel Pelaburan

Lembaga KWSPmemikul beberapa tanggungjawab utamaseperti mengawal selia pelaksanaan dasar berkaitandengan operasi KWSP, mengenal pasti bidang risikopenting danmengambil langkah-langkah yang sewajarnyauntuk mengurus risiko-risiko itu dan dalam masa yangsama mengkaji kecukupan dan integriti sistem kawalandalaman. Selain daripada Lembaga, Akta KWSP 1991juga memperuntukkan penubuhan Panel Pelaburan yangbertanggungjawab terhadap hala tuju strategik dan isu-isu berkaitan dengan pelaburan KWSP. Panel Pelaburanmenentukan dan meluluskan aktiviti-aktiviti pelaburanKWSPselarasdengangarispanduanpelaburansertadasarmengenaikawalanrisikodanalokasiaset.

Pelantikan Lembaga dan Panel Pelaburan

Ahli-ahliLembagadanPanelPelaburansertaKetuaPegawaiEksekutif (KPE) dilantik oleh Menteri Kewangan. MenteriKewanganhanyamelantikindividu-individuyangmempunyairekodprestasiyangterbuktidalamintegriti,kebolehandankebolehpercayaanuntukmemastikanmerekamelaksanakantanggungjawabdenganberkesan.Pelantikan adalahuntuksetiaptermabagitempohduatahundanMenteriKewanganakan mengkaji prestasi dan keberkesanan setiap AhliLembagadanPanelPelaburansecaraindividu.

Komposisi Lembaga dan Panel Pelaburan

Akta KWSP 1991 memperuntukkan bahawa keahlianLembaga hendaklah tidak melebihi 20 orang termasukPengerusi dan KPE. Dalam tahun 2011, Lembaga KWSPmempunyai18orangAhliLembagatermasukPengerusidanKPE.KesemuanyatidakmempunyaikuasaeksekutifkecualiKPEsebagaiAhliEx-Officio.SelaindaripadaPengerusidanKPE, komposisi Lembaga adalah terdiri daripada wakil dikalanganpemegangberkepentinganKWSP, iaitu limaAhliLembagamewakiliKerajaan,empatAhliLembagamewakiliMajikan,empatAhliLembagamewakiliPekerjadantigaAhliLembagaprofesionaldaripelbagailatarbelakang.

Panel Pelaburan, yang diterajui oleh Pengerusi LembagaKWSP, terdiri daripada tujuh Ahli Panel dan mempunyaiwakildaripadaBanknegara,KementerianKewangan,sertatigapakarkewanganbebasdanKPEadalahAhliEx-Officio.

Ahli-ahliLembagaKWSPsertaPanelPelaburanmempunyaipengalaman luas dalam pelbagai bidang, memberikankeupayaanyangkukuhdalammelaksanakantanggungjawabmerekadenganberkesan.




Board/Investment Panel Committees

To ensure the effective discharge of its duties, the Boardand Investment Panel have established various Board/Investment Panel Committees to oversee specificmatterspertaining to the operation of the organisation. Eachcommitteeoperateswithinclearlydefinedtermsofreference.Thetermsofreferenceofthemaincommitteesaresetoutasfollows:

• BoardAuditCommittee

The Board Audit Committee assists the Board inevaluating the effectiveness of the internal controls,riskmanagement(exceptriskmanagementactivitiesinmakinginvestmentdecisions)andgovernanceprocessesofEPF.TheCommitteeoverseesthefinancialreportingprocess and the quality of the financial reporting ofEPF’sannualand interimfinancialstatements. Italsoreviews the appropriateness of the EPF’s accountingpoliciesandthechangestothesepolicies.

TheCommitteeconsistsofsixmembers(includingtheChairman) held sevenmeetings in 2011 to deliberatethereportsoftheinternalandexternalauditors,reviewmatters including the internal audit function as wellastheauditplanfortheyear.TheCommitteehasfullaccesstoboththeinternalandexternalauditorswho,inturn,haveaccessatalltimestotheChairmanoftheCommittee. The Board Audit Committee maintains aformalandprofessional relationshipwith theexternalauditors and had convened two meetings with theexternalauditorsinyear2011withoutthepresenceofManagement.

• BoardRiskManagementCommittee

TheBoardRiskManagementCommitteeisresponsibleforassisting theBoard tooverseealloperational riskmanagementactivities,reviewingthekeyrisksinherentintheorganisationandthesystemofinternalcontroltomanagethem;andreportingitsfindingstotheBoard.TheCommitteeconsistsofsixmembers includingtheChairmanandtherewerefourmeetingsheldin2011.

Jawatankuasa Lembaga/Panel Pelaburan

Untuk memastikan pelaksanaan tugas dengan berkesan,Lembaga dan Panel Pelaburan telah menubuhkanJawatankuasaLembaga/PanelPelaburanuntukmengawalselia perkara-perkara spesifik berkaitan denganoperasi organisasi. Setiap jawatankuasa melaksanakantanggungjawab mengikut terma rujukan yang telahditetapkan.AntarabidangtugasutamaJawatankuasautamaLembaga/PanelPelaburanadalahsepertiberikut:

• Jawatankuasa Audit Lembaga

Jawatankuasa Audit Lembaga bertanggungjawabmembantu Lembaga dalam penilaian keberkesanankawalan dalaman, pengurusan risiko (kecuali aktivitipengurusan risiko dalam membuat keputusanpelaburan) dan proses tadbir urus KWSP. Selain itu,Jawatankuasa ini turut mengawasi proses pelaporankewangan serta kualiti laporan kewangan tahunandan suku tahunanKWSP. Ia jugamempertimbangkankesesuaian polisi perakaunan KWSP dan perubahan-perubahankepadapolisiini.

Jawatankuasa ini terdiri daripada enam orang ahlitermasuk Pengerusi dan sebanyak tujuh mesyuarattelahdiadakandalamtahun2011bagimembincangkanlaporan juruaudit dalam dan juruaudit luar, sertamengawasi perkara-perkara berkaitan fungsiaudit dalam dan pelan audit untuk tahun semasa.Jawatankuasa ini mempunyai akses sepenuhnyake atas kedua-dua pihak iaitu juruaudit dalam danjuruaudit luar. Kedua-dua pihak juruaudit dalam danjuruauditluarjugamempunyaiaksessecaralangsungkepada Pengerusi Jawatankuasa pada setiap masa.Jawatankuasa Audit Lembaga mempunyai hubunganprofesionaldanrasmidenganjuruauditluardantelahmengadakan dua mesyuarat bersama juruaudit luarpadatahun2011tanpakehadiranpihakPengurusan.

• Jawatankuasa Pengurusan Risiko Lembaga

Jawatankuasa Pengurusan Risiko Lembagabertanggungjawab membantu Lembaga mengawasisemua aktiviti pengurusan risiko operasi, mengkajisemularisikoutamayangwujuddalamorganisasidansistemkawalandalamanuntukmenguruskannya,danmelaporkan hasil penemuan risiko kepada Lembaga.Jawatankuasa ini terdiri daripada enam orang ahlitermasuk Pengerusi dan sebanyak empat mesyuarattelahdiadakandalamtahun2011.


• FinanceandDevelopmentCommittee

TheFinanceandDevelopmentCommitteeisresponsibletoreviewandcontrolEPF’sexpenditure.TheCommitteealso recommends yearly budget to theBoard besidesdisposal of EPF’s immovable assets as well as otherfinancial matters such as opening of the main bankaccount and budget control. The Committee consistsofsixmembersincludingtheChairmanandtherewerefivemeetingsheldin2011.

• InvestmentPanelRiskCommittee

The Investment Panel Risk Committee is responsiblefor overseeing investment risk, which includesrecommending the aggregate risk appetite forthe Investment Panel’s approvals, approving riskmanagementpoliciesandlimits,reviewingriskexposureandprovidingdirectioninrelationtoriskmanagementpracticeswithintheinvestmentfunction.Therearefourmembers including the Chairman and four meetingswereheldin2011.

TheBoardandInvestmentPanelMeetings

A total eight Board (including one Special Board) and17 Investment Panel (including two Special InvestmentPanel)meetingwereheldin2011.Thedetailsofmembers’attendanceatmeetingsareasfollows:


• Jawatankuasa Kewangan dan Pembangunan

Jawatankuasa Kewangan dan PembangunanbertanggungjawabmenelitidanmengawalperbelanjaanKWSP. Jawatankuasa ini juga memperakukanbelanjawan tahunankepadaLembagaselainperkara-perkara seperti pelupusan harta tak alihKWSP sertaperkaraberkaitankewangansepertipembukaanakaunbankutamadankawalanperbelanjaan.JawatankuasainiterdiridaripadaenamorangahlitermasukPengerusidan sebanyak lima mesyuarat telah diadakan dalamtahun2011.

• Jawatankuasa Risiko Panel Pelaburan

JawatankuasaRisikoPanelPelaburanbertanggungjawabmengawasirisikopelaburan,termasukmemperakukancadangan tahap risiko agregat untuk kelulusanPanelPelaburan,meluluskanpolisipengurusandanhadrisiko,mengkaji semulapendedahanrisikodanmemberikanpanduan berkaitan amalan pengurusan risiko dalamlingkungan fungsipelaburan.Jawatankuasa ini terdiridaripadaempatahlitermasukPengerusidansebanyakempatmesyuarattelahdiadakandalamtahun2011.

Mesyuarat Lembaga dan Panel Pelaburan

Sejumlah lapan mesyuarat Lembaga (satu daripadanyaadalahMesyuaratKhas)dan17mesyuaratPanelPelaburan(dua daripadanya adalah Mesyuarat Khas) telah diadakanpada2011.Butir-butirkehadiranahliadalahsepertiberikut:

MESYUARAT LEMBAGA/BOARD MEETINGS

.NAMA/NAME

KEHADIRAN/ATTENDANCE

1. TanSriSamsudinOsman(Pengerusi/Chairman) 8/8

WAKIL KERAJAAN/GOVERNMENT REPRESENTATIVES

2. Dato’Dr.MohdIrwanSerigarAbdullahEncikMaliamiHamad(AhliSilihGanti/AlternateMember)

5/8

3. TanSriAbuBakarBinHjAbdullahDatukFaridaMohdAli(AhliSilihGanti/AlternateMember)

3/8

4. Dato’SeriZainalRahimSeman(Mulai1Jun2011/AppointedwitheffectfromJune1,2011)Dato’MohdShariffHussain(AhliSilihGanti/AlternateMember)

4/5

5. DatukSeriPanglimaHjSukartiWakimanDatukHjnordinSiman(AhliSilihGanti/AlternateMember)

7/8

6. DatukHjMohamadMorshidiAbdulGhani i) DatuAbdulGhafurShariff(Meletakjawatanberkuatkuasadari30nov2011/

Resignedwitheffectfromnov30,2011)(AhliSilihGanti/AlternateMember) ii) DatuHajiMisnuHajiTaha(Dilantikberkuatkuasadari1Dis2011/

AppointedwitheffectfromDec1,2011)(AhliSilihGanti/AlternateMember)

6/8




NAMA/NAMEKEHADIRAN/ATTENDANCE

WAKIL MAJIKAN/EMPLOYERS REPRESENTATIVES

7. Dato’AzmanShahHaron 5/8

8. TanSriDatuk(Dr)MustafaMansur 7/8

9. DatukMohdHasnolAyub 6/8

10. DatukAbdulHamedHajiSepawi 2/5

WAKIL PEKERJA/EMPLOYEES REPRESENTATIVES

11. TuanSyedShahirSyedMohamud(Meletakjawatanberkuatkuasadari31Mei2011/ResignedwitheffectfromMay31,2011)

3/3

12. EncikAndrewLoKiannyan(Meletakjawatanberkuatkuasadari31Mei2011/ResignedwitheffectfromMay31,2011)

3/3

13. EncikAhmadShahMohdZin(Meletakjawatanberkuatkuasadari31Mei2011/ResignedwitheffectfromMay31,2011)

3/3

14. CikChinYungChiew@Rebecca 7/8

15. EncikMohdKhalidAtan(Dilantikberkuatkuasadari1Jun2011/AppointedwitheffectfromJune1,2011)

3/5

16. PuanLokYimPheng(Dilantikberkuatkuasadari1Jun2011/AppointedwitheffectfromJune1,2011)

5/5

PROFESIONAL/PROFESSIONALS

17. TanSriLeeLamThye 5/8

18. DatukDrHusseinAwang(Meletakjawatanberkuatkuasadari31Mei2011/ResignedwitheffectfromMay31,2011)

3/3

19. EncikHalimHjDin 7/8

20. EncikHengHockCheng@HengHeyokChiang(Dilantikberkuatkuasadari1Jun2011/AppointedwitheffectfromJune1,2011)

5/5


21. TanSriAzlanZainol 8/8


HONORARIUM DAN ELAUN KEHADIRAN AHLI LEMBAGA DAN PANEL PELABURAN/ HONORARIUM AND ATTENDANCE ALLOWANCE OF BOARD AND INVESTMENT PANEL MEMBERS


NAMA/NAMEKEHADIRAN/ATTENDANCE

1. TanSriSamsudinOsman(Pengerusi/Chairman) 17/17

2. Dato’Dr.MohdIrwanSerigarAbdullah 7/16

3. DatuknorShamsiahMohdYunus 8/17

4. Dato’SriMohamednazirAbdulRazak 8/17

5. Dato’MohammadAzlanHashim 11/17

6. EncikDavidLaunaiPek 11/17

7. TanSriAzlanZainol(Ex-Officio) 17/17

MESYUARAT PANEL PELABURAN/INVESTMENT PANEL MEETING

JENIS ELAUN/TYPES OF ALLOWANCES

.

.

ELAUN/ ALLOWANCE (RM)

LEMBAGA/ BOARD

PANEL PELABURAN/INVESTMENT PANEL

LEMBAGA/PANEL PELABURAN/ JAWATANKUASA AUDIT LEMBAGA/JAWATANKUASA PENGURUSAN RISIKO LEMBAGA/JAWATANKUASA RISIKO PANEL PELABURAN/ BOARD/INVESTMENT PANEL/BOARD AUDIT COMMITTEE/BOARD RISK MANAGEMENT COMMITTEE/ INVESTMENT PANEL RISK COMMITTEE

JAWATANKUASA LEMBAGA LAIN/OTHER BOARD’S COMMITTEES

Honorarium(sebulan)/Honorarium(permonth)(Kadarsebelum31Mei2011)(PriortoMay31,2011)(Kadarmulai1Jun2011)(FromJune1,2011)

2,000

3,000

2,000

3,000

PengerusiMesyuarat/ChairmanofMeeting(Kadarsebelum31Mei2011)/(PriortoMay31,2011)(Kadarmulai1Jun2011)/(FromJune1,2011)

1,000

2,000

1,000

1,500

KehadiranMesyuarat-termasukAhliSilihGanti/MeetingAttendance–IncludingAlternateMembers(Kadarsebelum31Mei2011)/(PriortoMay31,2011)(Kadarmulai1Jun2011)(FromJune1,2011)

1,000

1,500

800

1,300

Padatahun2011,jumlahbayaranhonorariumdanelaunAhliLembagadanAhliPanelPelaburanadalahmasing-masingsebanyakRM869,000danRM232,000.For the year 2011, the total honorarium and allowances paid to the Board and investment Panel members was Rm869,000 and Rm232,000 respectively.




EMOLUMEN PENGURUSAN KANAN/EMOLUMENT OF TOP MANAGEMENT

.JAWATAN/POSITION EMOLUMEN/

EMOLUMENT (RM)

KetuaPegawaiEksekutif/Timbalan-TimbalanKetuaPegawaiEksekutif/ChiefExecutiveOfficer/DeputyChiefExecutiveOfficers

3,646,179

KOMUNIKASI DENGAN PEMEGANG BERKEPENTINGAN

Lembagamengakuiiaperlubersikapteluskepadapemegangberkepentingannya,khususnyaahliKWSP.Semuaperubahanutama dan maklumat penting seperti tanggungan untukmencarum, pengeluaran dan manfaat, prosedur, saluranpenyampaianperkhidmatanbarudanperkara-perkara lainberkaitan sentiasa dimaklumkan kepada ahli dari semasakesemasa.Dalamtahunsemasa,KWSPtelahmengadakan9 mesyuarat/seminar dengan pelbagai pemegangberkepentingan.Initermasuk,antaralain,KongresKesatuanSekerja Malaysia (MTUC), Gabungan Persatuan-PersatuanPenguna-PenggunaMalaysia(FOMCA),PersatuanPenggunaPulauPinang(CAP),JabatanPerkhidmatanAwamdanAduan,MCAdanPersatuanPengguna-PenggunaIslamMalaysia.

Selaindaripada itu,KWSPsecaraberterusanmengadakansesi dialog dengan syarikat-syarikat yang mana KWSPmelabur.Dalamtahun2011,KWSPtelahmengadakansesilawatanke30buahsyarikat(Tempatan:20,Luarnegara:10).KWSP juga telahmenghadiri sertamengundi secara aktifdalam106MesyuaratAgungTahunandan44MesyuaratAgungLuarBiasasyarikatdimanaKWSPmelabur.MemandangkanKWSP bergiat aktif dalam mengawal selia pelaburannya,KWSP telah melantik wakilnya dalam Lembaga Pengarahsyarikattersenaraidantidaktersenarai.Setakat31Disember2011,KWSPmempunyaiwakilLembagaPengarahdidalam10syarikattersenaraidan20syarikattidaktersenarai.

COMMUNICATION WITH STAKEHOLDERS

TheBoardacknowledges theneed tobe transparent to itsstakeholders, particularly the EPF’s members. All majorchanges and material information such as changes inliabilitytocontribute,withdrawalsandbenefits,procedures,newservicedeliverychannelsandotherrelatedmattersarecommunicated to itsmembers on a regular basis. Duringthe year under review, the EPF conducted ninemeetings/dialogueswithvariousstakeholders,which include,amongothers, the Malaysian Trade Unions Congress (MTUC),FederationofMalaysianConsumersAssociations (FOMCA),Consumers Association of Penang (CAP), Public ServicesandComplaintsDepartment,MalaysianChineseAssociation(MCA)andPersatuanPenggunaIslamMalaysia.

Apart from that, EPF continues to hold dialogues with itsinvesteecompanies. In2011, theEPFvisited30companies(Local:20,Overseas:10).TheEPFalsoattendedandvotedactivelyin106AGMsand44EGMsofitsinvesteecompanies.AsEPFbecomesmoreactiveinoverseeingitsinvestments,the organisation has appointed its nominees on Board oflisted and unlisted companies. As at 31 December 2011,EPF has nominees in 10 listed companies and 20 unlistedcompanies.


TANGGUNGJAWAB

Lembaga mengakui bahawa ia bertanggungjawab ke atassistemkawalandalamandanrangkakerjapengurusanrisikooperasiKWSP.Sistemkawalandalaman tersebutdirangkauntuk mengurus risiko dan bukan untuk menghapussemua risiko tidakmencapai dasar,matlamatdanobjektiforganisasi. Justeru, sistem kawalan dalaman hanya dapatmemberikan jaminan keberkesanan yang munasabah danbukansecaramutlak.

CIRI-CIRI UTAMA KAWALAN DALAMAN

Ciri-ciri utama kawalan dalaman yang sedia ada di KWSPadalah:

• Termarujukanyangditakrifdenganjelas,menggariskanperanan dan tanggungjawab semua jawatankuasaLembagadanPanelPelaburan;

• Sebuahstrukturorganisasiyangmempunyaipanduanyangjelasmengenaikebertanggungjawaban,penurunankuasadan tanggungjawabdi semuaperingkaturusanbisnes organisasi. Pengurusan juga tertakluk kepadagarispanduanpolisidanhadpenurunankuasadalammelaksanakan operasi harian termasuk aktivitipelaburan.;

RESPONSIBILITY

TheBoardacknowledgesthatitisresponsiblefortheEPF’ssystemofinternalcontrolsandoperationalriskmanagementframework. The system of internal controls is designedto manage rather than to eliminate all risk of failure inachieving the organisation’s policies, aims and objectives.It can, therefore, onlyprovide reasonableandnotabsoluteassuranceofeffectiveness.

KEY ELEMENTS OF INTERNAL CONTROL

the key elements of internal control in place within the ePF are as follows:

• Termsofreferencethatdefinetherolesandresponsibilitiesof all committees of the Board and the investment Panel;

• An organisational structure with clearly defined lines ofaccountability, delegation of responsibility and levels of authorisation for all aspects of the business. there are policy guidelines and delegated authority limits imposed on the management with regard to day-to-day operations including investment activities;

Sistemkawalandalamantersebutdirangkauntukmengurusrisikodanbukanuntukmenghapussemuarisikotidakmencapaidasar,matlamatdanobjektiforganisasi.

the system of internal controls is designed to manage rather than to eliminate all risk of failure in achieving the organisation’s policies, aims and objectives.

“ “

STATEMEnTOnInTERnALCOnTROL

PERNYaTaaN KaWalaN DalaMaN



PERNYATAAN KAWALAN DALAMANstatement on inteRnaL ContRoL

• Management committees meet on a regular basis toidentify, discuss and resolve operational, financial, investment and key management issues. the Board and the investment Panel receive and review reports from the management on a regular basis. the terms of reference of the Board and the investment Panel and their respective committees for the year are noted in the statement on Corporate Governance;

• Annualbusinessplansandannualbudgetsarepreparedbythe operating units, reviewed by the relevant management committees and approved by the Board. there is a detailed and formalised annual business and budget planning process in place that looks at both the immediate and medium-term objectives of the organisation;

• Proper guidelines within the organisation for hiring andtermination of staff, staff training programmes, annual performance appraisals and other relevant procedures to ensure that staff are competent and adequately trained to carry out their responsibilities;

• Policiesandprocedurestoensurecompliancewithinternalcontrols (such as segregation of duties, independent checks and verification processes and system access controls) are set out in operation manuals, guidelines and directives issued by ePF, which are updated from time to time;

• An internal audit function that provides an independentassessment on the adequacy and integrity of the system of internal controls. this is achieved through the review of key activities of the ePF’s businesses based on the annual internal audit plan as approved by the Board audit Committee;

• Anintegratedfraudcontrolmanagementplantopreventand detect fraud including anti-Fraud and Whistleblowing policies;

• A documented ICT Security Policy, which outlinesthe necessary policies and procedures to ensure the confidentiality, integrity and availability of information, and system applications within the organisation;

• An operational risk management (‘ORM’) function thatfacilitates management and risk owners to identify and review significant risks as well as assess the adequacy of internal controls to mitigate those risks. the oRm function also supports the Board Risk management Committee in overseeing risk management activities of the ePF. Risks and controls owners also provide digital assurance on the effective management of risks and controls under their ownership;

• BusinessContinuityPlans(‘BCP’)whichensuresbusinesscontinuity in case of significant upheavals or disaster;

• All EPF core processes are in compliance with MS ISO9001:2008.

• Mesyuarat jawatankuasa pengurusan diadakan darisemasakesemasauntukmengenalpasti,membincangdanmenyelesaikanisu-isuutamapengurusan,operasi,kewangandanpelaburan.LembagadanPanelPelaburanmenerimadanmengkajilaporandaripadapengurusandarisemasakesemasa.TermarujukanLembagadanPanel Pelaburan, serta jawatankuasamasing-masingbagi tahun ini dinyatakan dalam Penyata Tadbir UrusKorporat;

• Pelanbisnesdanbelanjawantahunandisediakanolehunit-unit operasi, dikaji semula oleh jawatankuasapengurusan yang berkaitan dan diluluskan olehLembaga. KWSP mempunyai proses perancanganpelan bisnes dan belanjawan tahunan terperinci danrasmiyangmengambilkiraobjektifjangkapendekdanjangkasederhanaorganisasi;

• KWSPmempunyaigarispanduanyangteraturmengenaipengambilan dan pemecatan kakitangan, programlatihan kakitangan, penilaian prestasi tahunan danprosedur-prosedurlainyangberkaitanbagimemastikankakitanganberdayasaingdandilatihsecukupnyauntukmenjalankantanggungjawabmereka;

• Dasar dan prosedur bagi memastikan pematuhanterhadapkawalandalaman(sepertipengasingantugas,proses penyemakan dan pengesahan secara bebassertakawalancapaiansistem)yangdinyatakandalammanual operasi, garis panduan dan pekeliling yangdikeluarkanolehKWSP,yangdikemaskinidarisemasakesemasa;

• Sebuahfungsiauditdalamyangmenyediakanpenilaianbebas terhadap kecukupan dan kewibawaan sistemkawalan dalaman. Ini dicapai melalui kajian semulaaktiviti bisnes utama KWSP berdasarkan pelan audittahunan yang diluluskan oleh Jawatankuasa AuditLembaga;

• Pelan pengurusan kawalan fraud bersepadu untukmencegah dan mengesan fraud telah diwujudkantermasukpolisiAnti-FrauddanPendedahanMaklumat;

• DasarKeselamatanICTyangdidokumen,menggariskandasar dan prosedur yang perlu untuk memastikankerahsiaan, kewibawaan dan ketersediaanmaklumat,datadanaplikasisistemdidalamorganisasi;

• Fungsi pengurusan risiko operasi (‘ORM’) yangmembantu pengurusan dan pemilik risiko mengenalpasti, menilai dan mengkaji semula risiko-risikopenting serta menilai kecukupan kawalan dalamanuntuk mengatasi risiko tersebut. Fungsi ORM turutmembantuJawatankuasaPengurusanRisikoLembagamengawasi aktiviti pengurusan risiko KWSP. Pemilikrisiko dan kawalan turut memberikan pengesahandigital berhubung dengan keberkesanan risiko dankawalanmilikmereka;

• Rancangan Kesinambungan Perniagaan (‘BCP’)diwujudkan bagi memastikan kesinambungan bisnesjikaberlakugangguanyangketaraataubencana;

• SemuaprosesterasKWSPadalahberlandaskankepadapiawaianMSISO9001:2008.


PERNYATAAN KAWALAN DALAMANstatement on inteRnaL ContRoL

FUTURE DEVELOPMENT

TheEPFcontinuestoenhancetheefficiencyandeffectivenessofitsonlineserviceswhilstensuringtheappropriateinternalcontrolsareinplace.TheenhancementtotheEPF’sonlineservicesareexpectedtobeimplementedbyend2013.

CONCLUSION

The Board is of the opinion that the system of internalcontrols in placewithin theEPF is soundand sufficient tosafeguard the interests of members. The Board’s reviewof the effectiveness of the system of internal controls issupportedby:

• TheBoardRiskManagementCommitteewhichmeetsa minimum of four times a year to oversee the riskmanagementactivities;

• TheBoardAudit Committeewhichmeets aminimumof four times a year and reviews the findings andrecommendationsoftheinternalauditorandtheAuditorGeneral;and

• The Auditor General’s issuance of the annual auditcertificateonthefinancialstatements.

ThisstatementismadeinaccordancewiththeresolutionofthemembersoftheBoarddated27February2012.

PEMBANGUNAN MASA DEPAN

KWSP terus mempertingkatkan kecekapan dankeberkesanan perkhidmatan dalam talian (online) disampingmemastikan kawalan dalaman yang sesuai telahdiwujudkan.Penambahbaikankepadaperkhidmatandalamtalian (online) KWSP ini dijangka dilaksanakan pada akhirtahun2013.

KESIMPULAN

Lembaga berpandangan bahawa sistem kawalan dalamanKWSP adalah mantap dan mencukupi untuk melindungikepentingan ahli. Kajian semula oleh Lembaga terhadapkeberkesanansistemkawalandalamandisokongoleh:

• Jawatankuasa Pengurusan Risiko Lembaga yangbermesyuaratsekurang-kurangnyaempatkalisetahununtukmengawasiaktivitipengurusanrisiko;

• Jawatankuasa Audit Lembaga yang bermesyuaratsekurang-kurangnyaempatkalisetahundanmengkajisemula penemuan dan cadangan yang dikemukakanolehjuruauditdalamdanKetuaAuditnegara;dan

• KetuaAuditnegara yangmemberi sijil audit tahunankepadaPenyataKewangan.

Pernyataan ini disediakan selaras dengan resolusi ahliLembagabertarikh27Februari2012.



PernyataanTahapRisikoyangdiluluskanPanelPelaburanmenggariskansecaraumumtahaprisikoyangbolehditerimaKWSPdanmenjadiasaskepadaalokasidanauntukpelaburan.

TheRiskAppetiteStatements,asapprovedbytheInvestmentPanel,broadlyoutlinethelevelofrisksthattheEPFiswillingtotolerateandformthebasisoffundsallocationforinvestment.

“ “

STATEMEnTOnInVESTMEnTRISKMAnAGEMEnT

PERNYaTaaN PENGuRuSaN RISIKO PElaBuRaN

RESPONSIBILITY

InaccordancewiththeEmployeesProvidentFundAct1991,the InvestmentPanel is responsible formatterspertainingto the investments of the Fund and it acknowledgesresponsibility for the investment risk managementframework. The framework is designed tomitigate ratherthan to eliminate the risk of misstatement or loss incarryingouttheorganisation’sinvestmentpolicies,aimsandobjectives.Itcan,therefore,onlyprovidereasonableandnotabsoluteassuranceofeffectiveness.

INVESTMENT RISK MANAGEMENT FRAMEWORK

The EPF has in place an investment risk managementframework covering governance structure, policies andprocesses, capital allocation and risk measurement. Theframework is regularly reviewed as part of the continuousefforttoenhanceriskmanagementinEPF.

TANGGUNGJAWAB

BerdasarkanAktaKumpulanWangSimpananPekerja1991,Panel Pelaburan bertanggungjawab terhadap perkara-perkara berkaitan pelaburan KWSP dan menggalastanggungjawab terhadap rangka kerja pengurusan risikopelaburan.Rangkakerjainidiwujudkanuntukmengurusdanbukannya menghapuskan risiko salah nyata atau kerugiandalammelaksanakandasar,matlamatdanobjektifpelaburanorganisasi. Justeru itu, ia hanya boleh memberi jaminankeberkesananyangmunasabahdanbukansecaramutlak.

RANGKA KERJA PENGURUSAN RISIKO PELABURAN

KWSP telah menyediakan rangka kerja pengurusan risikopelaburanyangmeliputistrukturtadbirurus,pelbagaipolisidan proses, alokasi modal dan pengukuran-pengukuranrisiko. Rangka kerja ini sentiasa dikaji semula sebagaisebahagiandaripadausahaberterusanuntukmeningkatkanlagipengurusanrisikodiKWSP.


STRUKTUR PENGURUSAN RISIKO

• Panel Pelaburan,melalui Jawatankuasa Risiko PanelPelaburan, bertanggungjawab untuk mengawasipengurusan risiko berkaitan dengan keputusanpelaburanyangdibuatolehKWSP;

• Jawatankuasa Risiko Pengurusan, yang dipengerusikanoleh Ketua Pegawai Eksekutif, bertanggungjawabuntuk memantau dan mengkaji semula aktiviti-aktivitipengurusan risiko danmembantu JawatankuasaRisikoPanelPelaburan;dan

• Jabatan Pengurusan Risiko membantu Pengurusandan Jawatankuasa Risiko Panel Pelaburan denganmenyediakanukuran,pemantauandanpelaporansecarabebasbagipendedahanrisikopelaburanKWSP.

KAWALAN RISIKO

Pernyataan Tahap Risiko yang diluluskan oleh PanelPelaburan menggariskan secara umum tahap risiko yangbolehditerimaolehKWSPdanmenjadiasaskepadaalokasidanauntukpelaburan.KajiansemulaterhadapalokasiasetsentiasadilaksanakanuntukmemastikanbahawadanayangdilaburkanadalahselarasdengantahaprisikoKWSP.

Jawatankuasa Risiko Panel Pelaburan telah menyediakanpelbagai dasar dan had untuk memastikan risiko-risikodikawalbagisetiapkelasaset.Tambahankepadadasardanhad tersebut,SistemRisikodanAtributasiPrestasi,ModelPortfolioKreditdanPenarafanKorporat,telahdilaksanakandan dipertingkatkan secara berterusan untukmemastikanrisikodiukursecarasistematik.

Panel Pelaburan, melalui Jawatankuasa Risiko PanelPelaburan sentiasa mengkaji semula pengukuran risiko,alokasi modal, pelbagai polisi, proses dan had untukmemastikankeberkesananyangberterusan.

KESIMPULAN

Panel Pelaburan yakin bahawa amalan pengurusanrisiko pelaburan di KWSP adalah kukuh dan memadaiuntuk melindungi pelaburan KWSP. Kajian semula PanelPelaburanterhadapkeberkesananrangkakerjapengurusanrisiko pelaburan ini dibantu oleh Jawatankuasa RisikoPanel Pelaburan yang bermesyuarat sekurang-kurangnyaempatkalisetahundanmengkajisemulalaporanrisikodanpematuhandaripadapihakpengurusan.

Pernyataan ini disediakan berdasarkan resolusi ahli PanelPelaburanbertarikh21Februari2012.

RISK MANAGEMENT STRUCTURE

• The Investment Panel through the Investment PanelRisk Committee is responsible for overseeing riskmanagementpertainingtoEPF’sinvestmentdecisionsmaking;

• TheManagementRiskCommittee,chairedbytheChiefExecutive Officer, is responsible for monitoring andreviewing risk management activities and supportingtheInvestmentPanelRiskCommittee;and

• The Risk Management Department supports theManagementandtheInvestmentPanelRiskCommitteeby providing independent measurement, monitoringandreportingofEPF’sinvestmentriskexposures.

RISK CONTROLS

TheRiskAppetiteStatements,asapprovedbytheInvestmentPanel, broadly outline the level of risks that the EPF iswilling to tolerate and form the basis of funds allocationfor investment. A review on asset allocation is regularlyconducted to ensure funds are invested within EPF’s riskappetite.

The Investment Panel Risk Committee has put in placevariouspoliciesandlimitstoensurerisksaremitigatedforeach asset class. To complement the policies and limits,RiskandPerformanceAttributionSystems,CreditPortfolioModelandCorporateRatingare installedandcontinuouslyenhancedtoensuretherisksaresystematicallymeasured.

The Investment Panel through the Investment Panel RiskCommitteeregularlyreviewstheriskmeasurement,capitalallocation, policies, processes and limits to ensure theircontinuedeffectiveness.

CONCLUSION

The InvestmentPanel isconfident that the investmentriskmanagement practices in place within the EPF are soundand sufficient to safeguard the investments of the EPF.The Investment Panel’s review of the effectiveness of theinvestmentriskmanagementframeworkissupportedbytheInvestmentPanelRiskCommittee,whichmeetsaminimumoffourtimesayearandreviewsriskandcompliancereportsfromthemanagement.

The statement is made in accordance with the resolutionofthemembersoftheInvestmentPaneldated21February2012.

PERNYATAAN PENGURUSAN RISIKO PELABURANstatement on inVestment RisK manaGement



GAMBARAN UMUM

Dalam menetapkan matlamat untuk merealisasikan VisidanMisinya,KWSPperlumemastikanbahawasegalaunsuryangberkaitantelahtersediabagimenguruspelbagairisikoyangtimbuldaripadapersekitaranperniagaanyangsentiasaberubah. Sama ada ianya risiko strategik, kredit, pasaran,kecairan atau operasi, KWSP terus memanfaatkan budayapengurusanrisikonyayangteguhdanrangkakerjapengurusanrisiko yang bersepadu untuk merebut semua peluang danmenanganisemuaancaman.

Pada2011,KWSPterusmelaksanakanpelbagaiinisiatifyangbertujuanmenerapkanbudayapengurusanrisikoyangkukuhdi setiap peringkat organisasi. Inisiatif ini termasuk latihandan pembangunan sumber manusia secara berterusan,pelaksanaandasaryangkomprehensifdanstrukturorganisasiyang bersesuaian, serta peranan dan tanggungjawab yangditakrifkandenganjelas.

OVERVIEW

AstheEPFsetsitssightsonrealisingitsVisionandMission,itneedstoensurethatnecessaryelementsaresetinplacetobettermanagethevariousrisksposedbytheever-changingbusiness environment. Whether it is strategic, credit,market, liquidity or operational risk, the EPF continues toleverage itsrobustriskmanagementcultureand integratedriskmanagement framework to takeadvantageofpotentialopportunitiesandcounterallpossiblethreats.

In 2011, the EPF continued to implement various initiativesaimed at embedding a strong risk management culturewithin every level of the organisation. These initiativesincluded continuous staff training and development, theimplementationofcomprehensivepoliciesandanappropriateorganisationalstructure,aswellasclearlydefinedrolesandresponsibilities.

PENGuRuSaN RISIKO DI KWSPRISKMAnAGEMEnTInEPF


The EPF’s risk management structure provides clear linesofresponsibilityandaccountabilityfortheriskmanagementprocess as well as outlines the principal riskmanagementandcontrolresponsibilities:

1 The Board and the Investment Panel:

• The Board of the EPF (Board)isretainstheoverallriskmanagementresponsibility;whereas

• The Investment Panel is responsible for therisksrelatedtomakinginvestmentdecisions.

Mewujudkan polisi risiko/Establishment ofriskpolicy

Memastikan pelaksanaan dan pematuhan terhadap polisi risiko/Ensureriskpolicyimplementation & compliance

Pematuhan dan pelaksanaan polisi risiko/Riskpolicyimplementation& compliance

Jawatankuasa Audit Lembaga/Board Audit Committee

• Disokong oleh Jabatan Audit Dalaman

• SupportedbyInternal Audit Department

Jawatankuasa Pengurusan Risiko Operasi/

ManagementOperationsRiskCommittee

Unit Perniagaan & Cawangan/Business Units & Branches

32Jabatan&66Cawangan/32 Departments & 66 Branches

Jawatankuasa Risiko Pengurusan/ManagementRisk

Committee

Jawatankuasa Pengurusan Pelaburan/ManagementInvestment

Committee

• Jabatan Pengurusan Risiko/• RiskManagementDepartment

Lembaga KWSP/Board of the EPF

Jawatankuasa Pengurusan Risiko Lembaga/BoardRiskManagementCommittee

Jawatankuasa Risiko Panel Pelaburan/InvestmentPanelRiskCommittee

Panel Pelaburan/Investment Panel

Nota/NoteKWSPmengamalkanpendekatanbawahkeatasdanataskebawahthe ePF practises both a bottom-up and top-down approach

PENGURUSAN RISIKO DI KWSPRisK manaGement in ePF

Struktur pengurusan risiko KWSP menyediakan garistanggungjawab dan akauntabiliti yang jelas berkenaanprosespengurusanrisikosertamenetapkantanggungjawabutamadalampengurusandankawalanrisiko:

1 Lembaga dan Panel Pelaburan KWSP

• Lembaga KWSP (Lembaga) mengekalkantanggungjawab bagi keseluruhan pengurusanrisiko;manakala

• Panel Pelaburan KWSP bertanggungjawabterhadaprisikodalammembuatkeputusanpelaburan.

• Jabatan Pematuhan Pelaburan/• InvestmentComplianceDepartment



2 TheBoardRiskManagementCommitteeand InvestmentPanelRiskCommittee:

• The Board Risk Management Committee isresponsible for assisting the Board in overseeingall operational riskmanagementactivities (i.e. allactivitiesexceptforactivitiesinmakinginvestmentdecisions)andtoensurethattheriskmanagementprocessisinplaceandisfunctioningeffectively

• The Investment Panel Risk Committee isresponsible for investment risk oversight, whichincludesrecommendingtheaggregateriskappetitefor Investment Panel sign-off, approving riskmanagement policies and limits, reviewing riskexposures, and providing direction in relation toriskmanagement practiceswithin the investmentfunction

3 Dedicated Committees

• The Management Operation Committee (MORC)is a committee established at the managementleveltooverseetheOperationalRiskManagement(ORM)ofEPF.TheMORCchairedbytheCEOanditsmembersconsistoftheCEO,DeputyCEOs,HeadofRiskManagement,HeadofHumanResourcesandothersasdeemedappropriate

• The Management Risk Committee (MRC) is amanagement-level committee responsible fordeveloping the risk policy and appropriate limitsfor managing the investment risks of the EPF.Its members consist of the CEO, Deputy CEOs,Head of Risk Management, Head of InvestmentCompliance,HeadofQuantitativeandPerformanceAnalysisandrelevantHeadsofDepartment

• The Management Investment Committee (MIC)is a management-level committee responsiblefor evaluating the performance of the EPF’sinvestmentsaccording toassetclassesaswellasrecommendinginvestmentstrategiesandproposalstotheInvestmentPanel

4 The dedicated independent risk management andcompliance functions, namely, the Risk Management Department andtheInvestment Compliance Department,areresponsibleforensuringtheimplementationofandcompliancewithriskpolicies.

5 The Business Units and Branches comprising 32departmentsand66branchesrespectivelyarethefirstline of defence against risks. They are responsible foridentifying,mitigating andmanaging risks within theirlines of business. They are also to ensure that theirday-to-daybusinessactivitiesarecarriedoutwithintheestablishedriskpolicies,proceduresandlimits.


2 Jawatankuasa Pengurusan Risiko Lembaga dan Jawatankuasa Risiko Panel Pelaburan:

• Jawatankuasa Pengurusan Risiko LembagabertanggungjawabmembantuLembagamengawasisemua aktiviti pengurusan risiko operasi (iaitusemuaaktivitikecualiaktivitimembuatkeputusanpelaburan) dan memastikan bahawa prosespengurusan risiko dilaksanakan dan berfungsidenganberkesan

• Jawatankuasa Risiko Panel Pelaburan bertanggungjawab mengawasi risiko pelaburan,termasuk memperakukan tahap risiko agregatuntukkelulusanPanelPelaburan,meluluskanpolisidanhadpengurusanrisiko,mengkajipendedahanrisikodanmemberikanpanduanberhubungdenganamalanpengurusanrisikodalamfungsipelaburan

3 Jawatankuasa Khusus

• Jawatankuasa Pengurusan Risiko Operasi adalahsatu jawatankuasa yang diwujudkan di peringkatpengurusan untuk memantau pengurusan risikodiKWSP.JawatankuasaPengurusanRisikoOperasidipengerusikanolehKetuaPegawaiEksekutifdanahlinya terdiri daripadaKetuaPegawai Eksekutif(KPE), Timbalan KPE, Ketua Jabatan PengurusanRisiko,KetuaJabatanPengurusanSumberManusiadanmana-manalainyangdirasakansesuai

• Jawatankuasa Risiko Pengurusan adalahjawatankuasa peringkat pengurusan yangbertanggungjawabmerangkapolisidanhadrisikoyang sesuai untukmenguruskan risiko pelaburanKWSP.Ahli-ahlinyaterdiridaripadaKPE,TimbalanKPE, Ketua Jabatan Pengurusan Risiko, KetuaJabatan Pematuhan Pelaburan, Ketua JabatanKuantitatif dan Analisa Prestasi dan Ketua-ketuaJabatanyangberkaitan

• Jawatankuasa Pengurusan Pelaburan adalahjawatankuasa peringkat pengurusan yangbertanggungjawab menilai prestasi pelaburanmengikutkelasasetsertamencadangkanstrategisertapeluangpelaburankepadaPanelPelaburan

4 FungsipengurusanrisikodanpematuhanyangkhususdanberkecualidilaksanakanolehJabatan Pengurusan Risiko dan Jabatan Pematuhan Pelaburan, yangbertanggungjawabmemastikanpolisirisikodilaksanakandandipatuhi.

5 Unit Perniagaan dan Cawangan, dimanamasing-masingterdiridaripada32jabatandan66cawanganmerupakanbarisanpertahananhadapanmenghadapirisiko.Merekabertanggungjawabmengenalpasti,mengurangkansertamenguruskanrisikoyangberkaitandenganbidangtugasmereka.Mereka jugaperlumemastikanbahawa tugasharianyangdilaksanakanmematuhipolisi,prosedurdanhadyangtelahditetapkan.


6 The Board Audit Committee, supportedbytheInternalAudit Department, is responsible for providing anindependentassessmentoftheadequacyandreliabilityofthesystemofinternalcontrols,aswellascompliancewithpoliciesandprocedures.

INVESTMENT RISK MANAGEMENT

FRAMEWORK

TheInvestmentRiskManagementFrameworkaimstosupporttheinvestmentprocessesoftheEPFandensurethatproperriskgovernanceisinplacewithregardtoinvestmentdecisionmaking.

The frameworkprovidesaholisticviewof theriskprofileoftheEPF’s investmentportfolio. ItenablestheEPFtohaveacommon approach in identifying, measuring, monitoringandmanaging our portfolio risks. Thiswill ensure the EPFoptimises return on risk taking activities within its risktolerancelevels.

Theriskgovernanceframeworkisillustratedinthefollowingchart.

Proses, Polisi & Prosedur Risiko/Risk Processes, Policies & Procedures

Sistem Risiko & Data/Risk systems & Data

Organisasi Pengurusan Risiko yang Berkesan/effective Risk management organisation

Penentu Risiko & Had/Risk Quantification &

Limits

Alokasi Aset Strategik/strategic asset allocation (saa)

Alokasi Aset Taktikal/tactical asset allocation (taa)

Proses Pelaburan/investment Process

Pemilihan Sekuriti & Pengurusan Portfolio/security selection & Portfolio management

Pengukuran Risiko/Risk measurement

Laporan Risiko & Prestasi/

Risk Performance & Reporting


6 Jawatankuasa Audit Lembaga, dengan dibantuoleh Jabatan Audit Dalaman, bertanggungjawabmelaksanakanpenilaianbebasterhadapkecukupandankeutuhan sistem kawalan dalaman serta pematuhanterhadappolisidanprosedur.

PENGURUSAN RISIKO PELABURAN

RANGKA KERJA

Rangka Kerja Pengurusan Risiko Pelaburan adalah untukmembantuprosespelaburanKWSPdanmemastikan tadbirurus yang sesuai dipraktikkan dalam membuat keputusanpelaburan.

Rangka kerja ini memberikan gambaran yang menyeluruhberkenaan profil risiko portfolio pelaburan KWSP. Iamembolehkan KWSP menggunakan pendekatan yangsama untuk mengenal pasti, mengukur, memantau danmenguruskan risiko portfolionya. Dengan ini, KWSP dapatmemastikan pulangan yang optimum daripada aktivitipelaburannya setelah mengambil kira lingkungan tahaprisiko.

Rangkakerjatadbirurusrisikodigambarkanmenerusicartadibawah.

Rangka kerja tadbir urus risikoRiskgovernanceframework



METHODOLOGY AND PROCESS OF THE INVESTMENT RISK MANAGEMENT

MARKET RISK MANAGEMENT

Market risk is the riskof loss fromchanges in the valueofportfoliosandfinancialinstrumentsduetothemovementsininterestrates,foreignexchangeandequityprices.

Theprimaryobjectiveofmarketriskmanagementistoensurethatlossesfrommarketriskcanbepromptlymitigated,andthatriskpositionsaresufficientlyliquid.ThiswillenableEPFtoreduce itspositionwithout incurringpotential lossthat isbeyondEPF’sriskappetite.

TheEPFadoptsthefollowingtoolstomanagemarketrisk:

• ValueatRisk(VaR)-anestimationoftheamountofmarketvaluethataportfoliocanloseoveracertaintimehorizonwithagivenprobability.TheMonteCarloSimulation isused to compute VaR tomeasure the riskiness of theportfolios

• Duration-alinearmeasureofriskforabondtodefinethepercentage increase (decrease) in thebond’s valuefora1%fall(rise)inthebond’syield

• Trackingerror- refers to thestandarddeviationof theportfolio’sexcessreturnsrelativetoabenchmark

• Simulationanalysis, includingstress testing isanothermethodofexaminingportfolioriskinextremesituations.Stress testing involves setting parameters such ascorrelation, volatility and returns at different values aswellasassessinghowaportfolio’sriskmaychange

• Betameasurement–usedforgaugingtheequity’spricesensitivitiesagainstbenchmark


KAEDAH DAN PROSES PENGURUSAN RISIKO PELABURAN

PENGURUSAN RISIKO PASARAN

Risiko pasaran adalah risiko kerugian daripada perubahandalam nilai portfolio dan instrumen kewangan disebabkanoleh pergerakan harga pasaran sama ada berkaitan kadarfaedah,tukaranwangasingdanhargaekuiti.

Objektif utama pengurusan risiko pasaran adalah untukmemastikan agar kerugian daripada risiko pasaran dapatdikawaldengansegera,danpendedahanberisikomempunyaikecairan yang mencukupi bagi membolehkan KWSPmengurangkan pendedahan tersebut tanpa menanggungkerugianyangmelebihitahaprisikoKWSP.

KWSP mengguna pakai pendekatan berikut untukmenguruskanrisikopasaran:

• nilai berisiko (“VaR”) – anggaran jumlah nilai pasaranyangbolehditanggungkerugiannyaolehsesuatuportfoliodalamtempohmasatertentupadatahapkebarangkalianyangtelahditetapkan.SimulasiMonteCarlodigunakanuntukmengiraVaRbagimengukurtahaprisikoportfolio

• Tempohmasa – ukuran linear risiko bagi sesuatu bonuntukmentakrif peratusan kenaikan (atau penurunan)terhadapnilaibontersebutbagikejatuhan(ataukenaikan)1%bagihasilyangdiperolehdaripadabontersebut

• ‘Tracking Error’ –merujuk kepada sisihan piawai bagilebihanpulanganportfolioberbandingpenandaaras

• Analisis simulasi, termasuk ujian tekanan adalah satulagikaedahmengujirisikoportfoliodalamkeadaanyangsukar. Ujian tekananmelibatkan penetapan parameterseperti korelasi, volatiliti dan pulangan pada nilai-nilaiyang berlainan dan menilai bagaimana risiko sesuatuportfoliobolehberubah

• Pengukuranbeta–digunakanuntukmengukursensitivitihargasesuatuekuitiberbandingpenandaaras


CREDIT RISK MANAGEMENT

Creditriskistheriskoflossduetotheinabilityorunwillingnessofaborrower/counterparty tomeet itspaymentobligations.Exposure to credit risk arises through lending, hedging,tradingandinvestingactivities.

Theprimaryobjectiveofcreditriskmanagementistoensurethat the EPF’s exposure to credit risk is always within itscapabilityandfinancialcapacitytowithstandpotentialfuturelosses.

TheEPFassesseditscreditexposuresthroughvarioustoolssuchas:-

• CreditPortfolioModelling–usedtocomputeCreditVaRforgaugingthecreditriskexposure

• Corporate Rating Template – provides a statistically-basedinternalriskratingforcorporateborrowersandisconsistentwithbestpracticeratingmodelsoffinancialinstitutions

LIQUIDITY RISK MANAGEMENT

Liquidity risk relates to the inability to meet financialcommitmentsandobligationswhen they falldue.TheEPFmaintainsadequatelevelsofliquidassetsintheformofcashand placements in financial institutions in order to meetmembers’ withdrawals and other financial commitmentsandobligations.

MONITORING AND REVIEWING OF INVESTMENT RISK MANAGEMENT

TheInvestmentPanelthroughtheRiskAppetiteStatementsdefinesthelevelofrisksthattheEPFiswillingtotolerate.This forms the basis of investment funds allocation. TheInvestmentPanelRiskCommittee(IPRC)providesoversightoninvestmentriskmanagementactivitiesandreviewsrisksintheEPF’sinvestmentportfolio.

The Management Risk Committee (MRC) in its meetings,reviewsportfolioriskreportstoidentifykeysourcesofriskacrossallassetclasses.Basedontheriskreports,theMRCmonitors large risk concentrations and determines theappropriateactiontobetaken.TheMRCalsoevaluatestheresultsofstresstestingandscenarioanalyses.

TheInvestmentriskframework,policyandmethodologyareregularlyreviewedandenhancedtoensuretheircontinuedeffectiveness.


PENGURUSAN RISIKO KREDIT

Risiko kredit adalah risiko kerugian disebabkan olehketidakmampuan atau keengganan peminjam/pihak ketigadalammemenuhitanggungjawabkewangannya.Pendedahankepadarisikokreditwujuddaripadaaktivitipinjaman,lindungnilai,dagangandanpelaburan.

Objektif utama pengurusan risiko kredit adalah untukmemastikan pendedahan KWSP terhadap risiko kreditsentiasaberadadalamlingkungankemampuandankapasitikewangannya untuk menghadapi kemungkinan kerugian dimasadepan.

KWSP menilai pendedahan kreditnya melalui pelbagaipendekatanseperti:-

• ModelPortfolioKredit–digunakanuntukmengiraVaRKreditbagimenilaipendedahanrisikokredit

• Penarafan Korporat – menyediakan kadaran risikodalamanberasaskanstatistikuntukpeminjamkorporatdan ia konsisten dengan amalan terbaik yang digunapakaiolehinstitusikewangan

PENGURUSAN RISIKO KECAIRAN

Risiko kecairan merujuk kepada ketidakmampuan dalammemenuhikomitmendanobligasikewanganapabilasampaitempoh. KWSP sentiasa mengekalkan tahap kecairan asetyang secukupnya dalam bentuk tunai dan deposit dalaminstitusi kewangan bagi memenuhi pengeluaran ahli dankomitmensertaobligasikewanganyanglain.

PEMANTAUAN DAN KAJIAN SEMULA PENGURUSAN RISIKO PELABURAN

Panel Pelaburan, melalui Pernyataan Tahap Risiko,menetapkantahaprisikoyangbolehdiambilolehKWSPdanmenjadiasasbagiperuntukandanapelaburan.JawatankuasaRisiko Panel Pelaburan mengawasi pengurusan risikopelaburan dan mengkaji semula risiko dalam portfoliopelaburanKWSP.

Jawatankuasa Risiko Pengurusan dalam mesyuaratnya,mengkaji laporan risiko portfolio untuk mengenal pastisumber risiko utama bagi seluruh kelas aset. Berdasarkanlaporan tersebut, jawatankuasa ini memantau penumpuanrisikoyangbesardanmenentukantindakansewajarnyayangperludiambil.Jawatankuasainiturutmenilaikeputusanujiantekanandananalisissenario.

Rangka kerja, polisi, dan metodologi pengurusan risikoPelaburan sentiasa dikaji semula dan dipertingkatkan darisemasa ke semasa untuk memastikan keberkesanan yangberterusan.



OPERATIONAL RISK MANAGEMENT

FRAMEWORK

Operationalriskistheriskoflossresultingfrominadequateor failed internal processes, people or systems, or fromexternalevents.

The Operational Risk Management (ORM) framework isadopted toalignstrategy,organisationalpolicy, technologyandknowledgewiththeprocessofevaluatingandmanagingtheuncertaintiesandadverseeffectsofoperationalrisks.

The framework explains themethodology adopted by EPFanddefines theprocessesutilised to establish the contextof as well as assess, treat,monitor and report significantoperationalrisks.TheEPFhasalsocompletedbenchmarkingitsexistingORMFrameworkagainsttheMSISO31000:2010internationalstandardandtargetscompletingthealignmenttothisstandardby2012.

METHODOLOGY AND PROCESS OF THE OPERATIONAL RISK MANAGEMENT

Operational Risk Management Process – Overview

PENGURUSAN RISIKO OPERASI

RANGKA KERJA

Risikooperasiadalahrisikokerugianakibatketidakcukupanataukegagalanprosesdalaman,manusiaatausistem,atauperistiwaluaran.

Rangka kerja Pengurusan Risiko Operasi digunakan untukmenjajarkan strategi, polisi organisasi, teknologi danpengetahuan dalam menilai dan mengurus ketidakpastiandankesannegatifrisikooperasi.

Rangka kerja ini menerangkanmetodologi yang digunakanoleh KWSP dan mentakrifkan proses-proses dalammenentukan konteks, menaksir, mengendali, memantaudan melaporkan risiko operasi yang penting. KWSP jugatelahselesaimenandaarasRangkaKerjaPengurusanRisikoOperasi yang tersedia berbanding piawaian antarabangsaMS ISO 31000:2010 dan mensasarkan penjajaran kepadapiawaianiniakanselesaimenjelang2012.

KAEDAH DAN PROSES PENGURUSAN RISIKO OPERASI

Proses Pengurusan Risiko Operasi – Gambaran Umum

MenentukanKonteks/establish the contextP

anta

u D

an K

aji S

emul

a/M

onit

or &

Rev

iew

Kom

unik

asi d

an M

erun

ding

/Com

mun

icat

ion

and

Con

sult

MengenalPastiRisiko/identify the risks

MenganalisisRisiko/analyse risks

MenilaiRisiko/evaluate risks

MengendaliRisiko/treat risks

Sumber:MSISO31000:2010PengurusanRisiko–PrinsipdanGarisPanduanSource:MSISO31000:2010RiskManagement–PrinciplesandGuidelines


Pen

ilaia

n R

isik

o/R

isk

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ssm

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CORPORATE RISK SCORECARD

The Corporate Risk Scorecard (CRS) methodology, arisk management approach consistent with the MS ISO31000:2010standardonRiskManagement,hasbeenadoptedintheimplementationofoperationalriskmanagement.OneofthekeyelementsintheCRSmethodologyistheRiskandControl Self-Assessment (RCSA)modulewhich allows ourstafftoself-assessandupdatetheirriskprofile.

Gross risks are assigned numerical values, usingpredetermined Possibility and Impact Rating parameters.Existing controls and mitigating strategies are identifiedand theireffectiveness isevaluated toderive thenettRiskRating.ThenettRiskRatingisanalysedagainsttheTargetRiskratingtodeterminewhetheractionplansareneededtomitigatetherisks.

Access to the ORM system is provided on an enterprise-widebasissothatallRiskScorecardsOwners,RiskOwners,Control Owners andManagement Action (MA)Owners canundertake RCSA activities effectively. A total of 101 riskscorecards have been established for all departments,sectionsandbrancheswithinEPF.

KAD SKOR RISIKO KORPORAT

Kaedah Kad Skor Risiko Korporatmerupakan pendekatanpengurusanrisikoyangkonsistendenganpiawaianMSISO31000:2010bagiPengurusanRisikoyangdigunapakaidalampelaksanaanpengurusanrisikooperasi.SalahsatudaripadaciriutamakaedahkadskoriniadalahciriPenilaianKendiriRisiko dan Kawalan (Risk and Control Self-Assessment,RCSA)yangmembolehkankakitanganKWSPmenilaisendiridanmengemaskiniprofilrisikomereka.

Risiko kasar diberi skor, menggunakan kaedah KadaranKemungkinan dan Impak yang ditentukan terlebih dahulu.Kawalansediaadadanstrategipengurangankemungkinanrisiko berlaku dikenal pasti dan keberkesanannya dinilaiuntukmendapatkanKadaranRisikoBersih.KadaranRisikoBersih ini dianalisis dan dibandingkan dengan KadaranSasaranRisikountukmenentukansamaadapelantindakanperludiwujudkanuntukmenguruskanrisikotersebut.

Akses kepada sistem ORM disediakan secaramenyeluruhsupaya semua Pemilik Kad Skor Risiko, Pemilik Risiko,Pemilik Kawalan, Pemilik Tindakan Pengurusan bolehmenjalankan aktiviti RCSA secara berkesan. Terdapat 101kad skor risiko dibangunkan untuk jabatan, seksyen dancawanganKWSP.

PemilikRisiko/Risk owner

KadskorRisiko/Risk scorecard



PemilikKawalan/Control owners nota/MA = TindakanPengurusanKRI = PetunjukRisikoUtama

PemilikMA/ma owners

PemilikKRI/KRi owners

Sumber-sumber Risiko/SourcesofRisk

•Luaran/external•Peraturan&Undang-undang/Regulatory & Legal

•TadbirUrusKorporat/Corporate Governance•Kewangan/Financial•Pelanggan/Customers•Produk&Perkhidmatan/Product & services

•Pembekal/suppliers•Operasi/operations•SumberManusia/

Human Capital

Rating Kasar/GrossRating

Keberkesanan Kawalan/ Control Effectiveness

Rating Bersih /NettRating

•PengenalpastianPuncadanAkibat/identification of causes and Consequences

•Senarioyangterburuk/Worst case scenario

•TiadaKawalanataukawalanlangsungtidakberkesan/no control or controls totally ineffective

•Mengurangkan Punca KawalanPencegahandanPengesanan/

Reduce Cause Preventive and Detective Controls

•Mengurangkan Akibat KawalanPengesanandanPembetulan/

Reduce Consequence Detective and Corrective Controls

•Selepasmengambilkirakeberkesanankawalan/after taking in consideration controls effectiveness

SkorRisiko/Risk scoring

Kem

ungkinan/P

ossi

bilit

y 5 6 7 8 9 10

4 5 6 7 8 9

3 4 5 6 7 8

3 3 4 5 6 7

1 2 3 4 5 6

1 2 3 4 5

Kesan/impact

Mewujudkankonteksmerangkumiparameterdalamandanluaranyangberkaitandenganorganisasisecarakeseluruhan,termasuklahlatarbelakangcarapenarafanrisikoyangberkaitan.Semuakonteksinidijelaskandenganlebihlanjutdalam“9PuncaRisiko”./establishing the context includes considering internal and external parameters relevant to the organisation as a whole, as well as the background to the particular riks being assessed. all these contexts are described as “the 9 sources of Risks”.

TahaprisikoditentukanselepaspenarafanRatingRisikoKasar,RatingKeberkesananKawalandanRatingRisikoBersih.Skorrisikobagisetiapfaktorrisikodiperolehidenganmencampurratingkemungkinandankesan./the level of risk is determined upon the assessment of Gross Risk Rating, Control effectiveness Rating and nett Risk Rating. the risk score of each risk factor derived by adding the rating on possibility and impact.

Pemilikanperludiberikanuntuksetiapkadskor,risiko,kawalandanTindakanPengurusan(MA)bagimemastikanakauntabilitidanpelaksanaan./ownership should be assigned for every scorecard, risk, control and management action (ma) to ensure accountability and execution.


note ma = management actionKRi = Key Risk indicator



BUSINESS CONTINUITY MANAGEMENT

The EPF’s Business Continuity Management (BCM)programmeisbenchmarkedagainstsoundBCMstandardsandguidelinesasabasisforunderstanding,developingandimplementingbusiness continuity. This benchmarking alsoenablesustomeasureEPF’sBCMprogrammecapabilityinaconsistentandrecognisedmanner.

TheillustrationbelowshowsthecomponentsofEPF’sBCMProgrammeFramework.

TheBCMprogrammewillensurethatEPFresumescriticaloperations within the required timeframes and minimisesthe cost of damages and interruptions due to disasters.In 2011, EPF continued the BCM programme at thedepartmentalandbranchlevel,andsuccessfullyconducteda flood crisis simulation exercise in Kuala Terengganu.Representatives from other branches participated in thisexercise.

Visi dan Strategi Perniagaan/Business Vision and Strategy

Struktur Pengurusan Kesinambungan Perniagaan/Business Continuity Management Structure

Pemacu Keputusan/Decision Drivers

Reka Bentuk/Design

Pelaksanaan/Implementation

PermulaanProgram&Pengumpulan

Maklumat/Programme initiation & information Gathering

PenilaianRisiko&AnalisisKesanKepada

Perniagaan/Risk assessment

& Business impact analysis

Pembangunan&SemakanRancangan/

Plan Development & Revision

PembentukanStrategistrategy Development

LatihanRancanganBCP&Penyelenggaraan/

exercise of BCP Plans & maintenance

ANCAMAN/THREATS


PENGURUSAN KESINAMBUNGAN PERNIAGAAN

Program Pengurusan Kesinambungan Perniagaan KWSPditanda aras berdasarkan piawaian dan garis panduanPengurusanKesinambunganPerniagaanyangkukuhsebagaiasas untuk memahami, membangun dan melaksanakankesinambungan perniagaan. Ia turut membolehkankeberkesanan program Pengurusan KesinambunganPerniagaandinilaisecarakonsistendandiperakui.

Ilustrasi di bawah menunjukkan komponen Rangka KerjaProgramPengurusanKesinambunganPerniagaanKWSP.

Program Pengurusan Kesinambungan Perniagaan akanmemastikan KWSP kembali menjalankan operasi pentingdalam tempohmasa yang ditetapkan danmeminimumkankos kerosakan dan gangguan akibat bencana. Pada 2011,KWSP meneruskan program Pengurusan KesinambunganPerniagaan di peringkat jabatan dan cawangan, sertaberjayamelaksanakanlatihansimulasikrisisbanjirdiKualaTerengganu dengan disertai wakil daripada cawangan-cawanganlain.

PengurusanKrisis&RancanganKesinambunganPerniagaan/Crisis management & Business Continuity Plans

Dasar&Standard/Policies & standard

Inisiatif&ProsesPerniagaan/Business initiatives & ProcessesStrategi&PenggunaanTeknologi/

technology strategy & UsagePenilaianKerentanan&Risiko/Vulnerability & Risk assessment


MONITORING AND REVIEW OF OPERATIONAL RISK MANAGEMENT

The Board monitors and reviews the implementation ofthe risk management framework through the Board RiskManagementCommittee(BRMC).

The ORM is considered part of the strategicmanagementprocessandkeyoperationalrisksaremanagedaspartofday-to-dayoperations.AllrisksarereviewedinaformalprocessandcoordinatedbytheRiskManagementDepartment.

LinemanagersowntheirriskstoensuretheircommitmenttoprovidingupwardassuranceaspartoftheaccountabilityandtransparencymeasuresinplacethroughouttheEPF.SixdigitalassuranceexercisesareconductedannuallytoensuretheeffectiveimplementationoftheORMmethodology.

A consolidated scoring analysis is conducted to provide aconsolidatedviewofkeyrisksfacedbytheEPF.Inenhancingourriskmeasurementandmonitoringprocess,relevantKeyRiskIndicatorshavebeenidentifiedinstages.Theseserveasearlywarningsignalstodetectandhighlightriskeventsandnewriskconcernsaswellaspotentialareasofweaknessesin operational controls. An assessment of risks is alsoconductedonkeyprojects,wherebycriticalrisksandissuesare identified and assessed by the relevant subjectmatterexperts,independentfromtheprojectowners.

CONTINUOUS IMPROVEMENT

Theriskmanagementframework,methodologies,processesandtoolswithregardtothemarketrisk,creditrisk,liquidityrisk and operational risk are regularly reviewed to ensuretheircontinuedeffectiveness.

PEMANTAUAN DAN KAJIAN SEMULA PENGURUSAN RISIKO OPERASI

LembagaKWSPmemantaudanmengkajisemulapelaksanaanrangka kerja pengurusan risiko melalui JawatankuasaPengurusanRisikoLembaga.

Pengurusan Risiko Operasi adalah sebahagian daripadaprosespengurusanstrategikdanrisikoutamaoperasidiurussebagai sebahagian daripada operasi harian. Semua risikodikajisemulamenerusiprosesyangteraturdandiselaraskanolehJabatanPengurusanRisiko.

Pengurus unit-unit perniagaanmemiliki risikomereka bagimemastikan komitmen mereka dalam memberi jaminankepada Lembaga sebagai sebahagian daripada langkahakauntabiliti dan ketelusan yang tersedia di KWSP. Enamjaminandigital dilaksanakan setiap tahunbagimemastikankeberkesanan pelaksanaan kaedah Pengurusan RisikoOperasi.

Metodologi penyatuan dan penskoran dilaksanakan untukmemberigambaranmenyeluruhterhadaprisikoutamayangdihadapiolehKWSP.Dalamusahauntukmempertingkatkanprosespengukurandanpemantauanrisiko,PetunjukRisikoUtamayangrelevantelahdikenalpastisecaraberperingkat,sebagaiisyaratawaluntukmengesandanmemberiamaranberkenaan kejadian risiko dan kewujudan risiko baru sertasebarangkelemahandalamkawalanoperasi.Penilaianrisikojugadijalankanterhadapprojekutama,dimanarisikodanisu-isukritikaldikenalpastidandinilaiolehpakaryangberkecualiyangbukanpemilikprojek.

PENAMBAHBAIKAN BERTERUSAN

Rangka kerja, kaedah, proses dan pendekatan pengurusanrisiko yang berkaitan dengan risiko pasaran, risiko kredit,risikokecairandanrisikooperasidikajisemulasecaratetapbagimemastikankeberkesanannyaberterusan.




DIaRI KORPORaT 2011CORPORATEDIARY2011

Januari27 Januari 2011LawatandariMajlisAmanahRakyat(MARA)

29 Januari 2011SambutanHariWilayahPersekutuanke-37

Februari15 Februari 2011SambutanMaulidurRasul

Mac1 Mac 2011PersidanganJaringanUrusTadbirKorporatAntarabangsa(ICGn2011)

7 Mac 2011SesiperjumpaanantaraPengurusanKWSPdanKongresKesatuanSekerjaMalaysia(MTUC)

8 Mac 2011LawatanPegawai-PegawaiPembangunanSumberManusiaBerhadkeKWSP

15 Mac 2011LawatanPegawai-PegawaiKementerianKewanganMalaysia

15 Mac 2011LawatanLordMayorofLondondandelegasikeKWSP

25 – 27 Mac 2011KWSPsertaiBnYouthJobFairdiPWTC

January27 January 2011VisitbytheCouncilofTrustforThePeople(MARA)

29 January 2011The37thFederalTerritoryDaycelebrations

February15 February 2011ProphetMuhammad’sBirthdaycelebrations

March1 March 2011InternationalCorporateGovernancenetworkConference(ICGn2011)

7 March 2011MeetingbetweentheEPF’sManagementandtheMalaysianTradesUnionCongress(MTUC)

8 March 2011VisitbyOfficersfromHumanResourcesDevelopmentFundtoEPF

15 March 2011OfficersfromtheMinistryofFinanceMalaysiavisittheEPF

15 March 2011TheLordMayorofLondonandhisdelegationvisittheEPF

25 – 27 March 2011TheEPFtakespartintheBnYouthJobFairatPWTC

15.2.2011

27.1.2011

29.1.2011

1.3.2011


DIARI KORPORAT 2011CoRPoRate DiaRY 2011

APRIL8 April 2011MajlisAnugerahKualitiKWSPCawanganTerbaik2010danPelancaranMAGITs

19 April 2011LawatanPegawai-PegawaiJabatanPendaftarannegarakeKWSP

20 April 2011LawatanPegawai-PegawaiAmanahRayaBerhadkeKWSP

25 April 2011MajlisAnugerahPengurusPortfolioLuaran2010

APRIL8 April 2011EPFQualityAwardsCeremonyfortheBestBranch2010andthelaunchingofEPF’sMAGITs

19 April 2011OfficersfromthenationalRegistrationDepartmentvisittheEPF

20 April 2011OfficersfromAmanahRayaBerhadvisittheEPF

25 April 2011ExternalPortfolioManagersAwardsCeremony2010

May7 May 2011LabourDaycelebration2011

11 May 2011nuSentralDevelopmentFinancingAgreementCeremony

11 May 2011OfficersfromtheSyariahJudiciaryDepartment(JKSM)visittheEPF

19 May 2011ProjectManagementAward

Mei7 Mei 2011SambutanHariPekerja2011

11 Mei 2011MajlisPerjanjianPembiayaanPembangunannuSentral

11 Mei 2011LawatanPegawai-PegawaiJabatanKehakimanSyariahMalaysia(JKSM)keKWSP

19 Mei 2011AnugerahPengurusanProjek

8.4.2011

25.4.2011

15.3.2011

11.5.2011




July1 July 2011EastCoastCrisisSimulationTraining

September16 September 2011The54thMerdekaandMalaysiaDaycelebrations

August16 August 2011LandPurchaseAgreementSigningCeremonybetweenKWASALAnDSdnBhdandATnBaswellasLGM

18 August 2011OfficersfromtheEducationalServiceCommissionofMalaysiavisittheEPF

Julai1 Julai 2011LatihanSimulasiKrisisPantaiTimur

September16 September 2011SambutanHariKemerdekaanke-54danHariMalaysia

Ogos16 Ogos 2011MajlisMenandatanganiPerjanjianJualBeliTanahdiantaraKWASALAnDSdnBhddenganATnBdanLGM

18 Ogos 2011LawatanPegawai-PegawaiSuruhanjayaPerkhidmatanPelajaranMalaysiakeKWSP

Jun13 – 17 Jun 2011LawatanPegawaiFijinationalProvidentFund(FnPF)keKWSP

19 – 20 Jun 2011LawatanPegawai-PegawaiTabungAmanahPekerja(TAP)BruneikeKWSP

21 Jun 2011LawatandelegasiRoyalMonetaryAuthorityofBhutandanInstitusiKewanganBhutan

24 – 26 Jun 2011KWSPsertaiHariTerbukaGLC(SyarikatBerkaitanKerajaan)

June13 – 17 June 2011OfficersfromtheFijinationalProvidentFund(FnPF)visittheEPF

19 – 20 June 2011OfficersfromtheEmployeesTrustFund(TAP)BruneivisittheEPF

21 June 2011VisitbythedelegationoftheRoyalMonetaryAuthorityofBhutanandtheFinancialInstitutionofBhutantotheEPF

24 – 26 June 2011TheEPFtakespartintheGLCOpenDay

16.9.2011

16.8.2011

1.7.2011

18.10.2011



October3 October –10 October 2011SystemStarRatingAssessmentProgramme2011

7 October 2011VisitbytheInlandRevenueBoardofMalaysiatotheKLUtamaCounter

18 October 2011EPF’s60thAnniversarycelebrationandthelaunchoftheEPF’snewCultureI♥EPF

24 – 28 October 2011VisitbythenationalPension&ProvidentFundofBhutantotheEPF

November3 November 2011EPF-levelnationalIntegrityDayCelebration2011

15 – 16 November 2011VisitbythenationalSocialSecurityFund,Uganda

23 November 2011VisitbytheCompaniesCommissionofMalaysia

December2 December 2011VisitbythePermanentSecretaryofthePrimeMinister’sOfficeofBrunei

6 – 7 December 2011InvestmentSeminar

12 December 2011EPFServiceAwardsCeremony2010

Oktober3 Oktober – 10 Oktober 2011ProgramPenilaianPenarafanSystemStarRating2011

7 Oktober 2011LawatanLHDnkeKaunterKLUtama

18 Oktober 2011MajlisSambutanulangtahunke60KWSPdanPelancaranBudayaBaharuKWSPI♥EPF

24 – 28 Oktober 2011LawatannationalPension&ProvidentFundBhutankeKWSP

November3 November 2011SambutanHariIntegritinasionalPeringkatKWSP2011

15 – 16 November 2011LawatannationalSocialSecurityFundUganda

23 November 2011LawatanSuruhanjayaSyarikatMalaysia

Disember2 Disember 2011LawatanSetiausahaTetapJabatanPerdanaMenterinegaraBrunei

6 –7 Disember 2011SeminarPelaburan

12 Disember 2011MajlisPenyampaianAnugerahPerkhidmatanKWSPTahun2010

7.10.20115.10.2011

3.11.2011

6–7.12.2011

12.12.2011



Kadar CarumanContribution Rates

TAHUNYEAR

PEKERJA EMPLOYEE

MAJIKANEMPLOYER

JUMLAHTOTAL

1952–Jun/June 1975 5% 5% 10%

Julai/July 1975–november/november 1980 6% 7% 13%

Disember/December 1980–Disember/December 1992 9% 11% 20%

Januari/January 1993 –Disember/December 1995 10% 12% 22%

Januari/January 1996–Mac/march 2001 11% 12% 23%

April/april 2001–Mac/march 2002 9% 12% 21%

April/april 2002–Mei/may 2003 11% 12% 23%

Jun/June 2003–Mei/may 2004 9% 12% 21%

Jun/June 2004–Mei/may 2005 11% 12% 23%

Jun/June 2005–Disember/December 2008 11% 12% 23%

Januari/January 2009–Disember/December 2010 8% 12% 20%

Januari/January 2011–Disember/December 2011 11% 12% 23%

Januari/January 2012 – Hingga Sekarang/Till Now

Pendapatan RM5,000 dan kurang/Income RM5,000 and less 11% 13% 24%

Pendapatan lebih daripada RM5,000/Income more than RM5,000 11% 12% 23%

STATISTIKStatistics


Kadar DividenDividend Rates

TAHUN YEAR

PERATUSPERCENTAGE PER ANNUM

1952–1959 2.50

1960–1962 4.00

1963 5.00

1964 5.25

1965–1967 5.50

1968–1970 5.75

1971 5.80

1972–1973 5.85

1974–1975 6.60

1976–1978 7.00

1979 7.25

1980–1982 8.00

1983–1987 8.50

1988–1994 8.00

1995 7.50

1996 7.70

1997–1998 6.70

1999 6.84

2000 6.00

2001 5.00

2002 4.25

2003 4.50

2004 4.75

2005 5.00

2006 5.15

2007 5.80

2008 4.50

2009 5.65

2010 5.80

2011 6.00

STATISTIKStatistics



Profil Ahli Aktif Mengikut lingkungan umur dan Jantina Setakat 31 Disember 2011Active Members’s Profile byAgeGroupandSexasat31December2011

KU

MP

ULA

N

UM

UR

(TA

HU

N)

AGE

GR

OU

P (Y

EAR

)

BIL

AN

GA

N

LELA

KI

NU

MB

ER O

F M

ALE

BIL

AN

GA

N

PER

EMP

UA

NN

UM

BER

OF

FEM

ALE

JUM

LAH

A

HLI

TOTA

L M

EMB

ER

JUM

LAH

A

HLI

(%)

TOTA

L M

EMB

ER (%

)

KU

MU

LATI

F (%

)TO

TAL

CUM

M

EMB

ER (%

)

JUM

LAH

SI

MPA

NA

N (R

M)

TOTA

L SA

VIN

GS

(RM

)

JUM

LAH

SI

MPA

NA

N

(%)

TOTA

L SA

VIN

GS

(%)

KU

MU

LATI

F (%

)TO

TAL

CUM

SA

VIN

GS

(%)

<16

1,223

708

1,931

0.03

0.03

1,042,066.46

0.00

0.00

16–25

886,947

776,211

1,663,158

26.56

26.59

10,000,979,020.99

3.05

3.05

26–30

659,573

616,897

1,276,470

20.38

46.97

29,693,366,821.61

9.06

12.11

31–35

502,336

411,065

913,401

14.58

61.55

44,140,131,974.17

13.46

25.57

36–40

414,480

308,513

722,993

11.54

73.10

55,463,313,325.14

16.92

42.49

41–45

355,370

244,264

599,634

9.57

82.67

59,412,181,456.07

18.12

60.61

46–50

297,521

199,857

497,378

7.94

90.61

61,635,441,642.06

18.80

79.41

51–55

219,357

128,960

348,317

5.56

96.18

45,571,367,482.58

13.90

93.31

56–60

104,458

51,072

155,530

2.48

98.66

14,336,051,641.45

4.37

97.69

61–65

43,770

16,259

60,029

0.96

99.62

5,195,738,215.52

1.58

99.27

66–70

13,638

3,820

17,458

0.28

99.90

1,756,630,503.61

0.54

99.81

71–75

4,868

982

5,850

0.09

99.99

567,442,172.51

0.17

99.98

76–80

470

87557

0.01

100.00

43,898,104.20

0.01

99.99

81–85

488

560.00

100.00

10,221,664.86

0.00

100.00

>85

5515

700.00

100.00

6,711,681.23

0.00

100.00

Jum

lah

Bes

ar/

Gra

nd T

otal

3,50

4,11

42,

758,

718

6,26

2,83

210

0.00

327,

834,

517,

772.

4610

0.00

nota:Jum

lahAmau

nSimpa

nantid

akte

rmasuk

den

gandivide

ntahu

n20

11note:TotalSavingsAmou

ntnotin

clus

ive2011ann

uald

ividen

d.

STATISTIKStatistics


LINGKUNGAN SIMPANANSAVINGS RANGE (RM)

BIL. LELAKINO. OF MALE

BIL. PEREMPUANNO. OF FEMALE

JUMLAHTOTAL

SIMPANANSAVINGS (RM)

<1-1,000 284,139 232,132 516,271 230,738,555.061,001-2,000 170,235 135,718 305,953 450,133,270.302,001-3,000 126,568 102,482 229,050 568,029,691.843,001-4,000 105,538 84,390 189,928 662,182,494.334,001-5,000 89,859 74,535 164,394 738,286,869.705,001-6,000 81,076 68,793 149,869 823,366,634.436,001-7,000 74,161 63,372 137,533 893,367,134.917,001-8,000 68,357 59,681 128,038 959,792,367.568,001-9,000 64,491 56,933 121,424 1,031,464,185.949,001-10,000 60,845 53,323 114,168 1,084,413,569.3410,001-15,000 265,497 238,247 503,744 6,254,004,644.8715,001-20,000 213,423 193,312 406,735 7,082,065,519.8620,001-25,000 180,509 161,201 341,710 7,667,418,462.6525,001-30,000 157,068 134,967 292,035 8,010,710,774.3430,001-35,000 137,788 114,926 252,714 8,198,323,449.6435,001-40,000 122,802 98,539 221,341 8,288,415,626.2840,001-45,000 108,899 85,582 194,481 8,255,479,654.2045,001-50,000 96,208 74,432 170,640 8,096,249,388.7950,001-60,000 165,787 122,566 288,353 15,802,152,845.3060,001-70,000 133,173 95,638 228,811 14,827,120,587.0170,001-80,000 107,485 77,167 184,652 13,817,138,911.9680,001-90,000 88,522 62,558 151,080 12,816,941,468.6190,001-100,000 74,161 50,591 124,752 11,833,201,711.94100,001-110,000 62,561 41,711 104,272 10,934,178,314.98110,001-120,000 52,545 35,170 87,715 10,075,633,912.10120,001-130,000 44,576 29,813 74,389 9,287,659,828.64130,001-140,000 37,824 25,136 62,960 8,491,886,651.91140,001-150,000 32,393 21,948 54,341 7,872,920,254.12150,001-300,000 200,270 124,060 324,330 66,007,577,440.85300,001-400,000 38,675 19,356 58,031 19,933,158,811.89400,001-500,000 19,818 8,666 28,484 12,668,268,281.64500,001-600,000 11,535 4,369 15,904 8,671,772,518.39600,001-700,000 7,308 2,360 9,668 6,246,025,773.48700,001-800,000 4,752 1,556 6,308 4,711,276,600.21800,001-900,000 3,492 923 4,415 3,738,241,511.07900,001-1,000,000 2,527 638 3,165 2,997,339,576.25

>1,000,000 9,247 1,927 11,174 17,807,580,478.07

JUMLAH/TOTAL 3,504,114 2,758,718 6,262,832 327,834,517,772.46

nota:JumlahAmaunSimpanantidaktermasukdengandividentahun2011note:TotalSavingsAmountnotinclusive2011annualdividend.

Profil Ahli AktifMengikut lingkungan Simpanan dan Jantina setakat 31 Disember 2011Active Members’ ProfilebySavingsRangeandSexasat31December2011

STATISTIKStatistics



LELAKI/MALE PEREMPUAN/FEMALE

TAHUNBILANGAN

AHLIJUMLAH

SIMPANAN (RM)PURATA

SIMPANAN (RM)BILANGAN

AHLIJUMLAH

SIMPANAN (RM)PURATA

SIMPANAN (RM)

YEAR NUMBER OF MEMBERS

TOTAL SAVINGS (RM)

AVERAGE SAVINGS (RM)

NUMBER OF MEMBERS

TOTAL SAVINGS (RM)


2007 32,557 4,522,020,101.65 138,895.48 15,944 1,354,532,480.79 84,955.62

2008 35,415 5,322,180,263.65 150,280.40 17,607 1,705,344,177.95 96,856.03

2009 36,387 5,794,733,416.85 159,252.85 18,552 1,886,638,751.19 101,694.63

2010 40,542 6,507,302,075.54 160,507.67 21,486 2,360,738,880.90 109,873.35

2011 40,004 6,657,338,897.64 166,416.83 22,354 2,647,519,595.35 118,436.06


Purata Simpanan Ahli Aktif yang Berumur 54 Tahun Mengikut JantinaActive Members’ Average Savings at Age 54 by Sex

Purata Simpanan Ahli yang Berumur 54 TahunMembers’ Average Savings at Age 54

AHLI AKTIF/ACTIVE MEMBERS AHLI TIDAK AKTIF/INACTIVE MEMBERS

TAHUNBILANGAN

AHLIJUMLAH

SIMPANAN (RM)PURATA

SIMPANAN (RM)BILANGAN

AHLIJUMLAH

SIMPANAN (RM)PURATA

SIMPANAN (RM)

YEAR NUMBER OF MEMBERS

TOTAL SAVINGS (RM)


NUMBER OF MEMBERS

TOTAL SAVINGS (RM)


2007 48,501 5,876,552,582.44 121,163.53 124,094 2,553,084,268.98 20,573.79

2008 53,022 7,027,524,441.60 132,539.78 130,653 2,860,548,303.03 21,894.24

2009 54,939 7,681,372,168.04 139,816.38 134,556 3,055,433,735.60 22,707.53

2010 62,028 8,868,040,956.44 142,968.35 148,844 3,528,282,764.37 23,704.57

2011 62,358 9,304,858,492.99 149,216.76 146,172 3,418,820,358.90 23,389.02


STATISTIKStatistics


Pertumbuhan PelaburanInvestment Growth

2007

2008

2009

2010

*20

11

BENT

UK-B

ENTU

K PE

LABU

RAN

RM

JUTA

PERT

UMBU

HAN

(%)

RM

JUTA

PERT

UMBU

HAN

(%)

RM

JUTA

PERT

UMBU

HAN

(%)

RM

JUTA

PERT

UMBU

HAN

(%)

RM

JUTA

PERT

UMBU

HAN

(%)

TYPE

S OF

IN

VEST

MEN

TRM

M

ILLI

ONGR

OWTH

%

)RM

M

ILLI

ONGR

OWTH

(%

)RM

M

ILLI

ONGR

OWTH

(%

)RM

M

ILLI

ONGR

OWTH

( %)

RM

MIL

LION

GROW

TH

(%)

SEKU

RITIKER

AJAA

n

MAL

AYSIA

MAL

AYSIAn

GO

VERn

MEn

TSE

CURITIES

112,93

2.06

10.09

110,64

2.17

-2.03

114,09

7.77

3.12

118,51

7.14

3.87

124,56

8.81

5.11

PInJA

MAn

DAn

BOn

LOAn

SAn

DBO

nDS

112,77

2.10

17.03

122,77

5.94

8.87

131,97

6.71

7.49

142,61

3.96

8.06

160,68

6.17

12

.67

EKUITI

EQUITY

66,274

.71

20.72

87,948

.12

32.70

100,42

6.13

14

.19

153,53

1.27

52

.88

167,20

7.25

8.91

InST

RUMEn

PAS

ARAn

WAn

GMOn

EYM

ARKE

TInST

RUMEn

TS

19,258

.53

-36.71

19,026

.09

-1.21

23,20

7.79

21

.98

23,98

7.35

3.36

14,93

6.82

-37.73

HART

ATA

nAH

PR

OPER

TIES

1,77

5.98

7.55

1,62

1.72

-8.69

1,554

.34

-4.15

1,867

.48

20.15

1,82

0.73

-2.50

JUM

LAH

/TOT

AL31

3,01

3.38

9.48

342,

014.

049.

2637

1,26

2.74

8.

5544

0,51

7.20

18

.65

469,

219.

78

6.52

nOTA

:*

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hun20

10,bak

ipelab

uran

yan

gdinyatak

andalam

Pen

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anKew

anga

nad

alah

berda

sarkan

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perak

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nFR

S139(Finan

cialIn

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ts:R

ecog

nitio

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nOTE

:*

With

effe

ctfrom2010,investm

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lancesasstated

intheStatem

entOfFina

ncialPosition

areinaccordan

cew

ithaccou

ntingstan

dardFRS139(Finan

cialIns

trum

ents:

Recog

nitio

nAn

dMea

suremen

t).

STATISTIKStatistics



Kadar Pulangan PelaburanRate of Return on Investment

2010 2011

BENTUK-BENTUK PELABURAN RM JUTAKADAR

PULANGAN (%) RM JUTAKADAR

PULANGAN (%)

TYPES OF INVESTMENT RM MILLION RETURN ON INVESTMENT (%)

RM MILLION RETURN ON INVESTMENT (%)

SEKURITIKERAJAAnMALAYSIAMALAYSIAnGOVERnMEnTSECURITIES

5,300.14 4.66 5,630.15 4.74

PInJAMAnDAnBOnLOAnSAnDBOnDS

7,020.30 5.25 7,539.30 5.10

EKUITIEQUITY

10,936.31 10.59 13,294.07 11.00

InSTRUMEnPASARAnWAnGMOnEYMARKETInSTRUMEnTS

703.60 3.03 656.36 3.43

HARTATAnAHPROPERTIES

100.70 6.06 113.75 6.36

JUMLAH /TOTAL* 24,061.05 6.41 27,233.63 6.67

nOTA:* Jumlah pulangan (pendapatan) pelaburan di atas tidak termasuk pendapatan pelaburan pelbagai berjumlah RM1.66 juta bagi tahun 2011

(2010:RM2.48juta).

nOTE:* Totalinvestmentreturn(income)asabovedoesnotincludeRM1.66millionmiscellaneousinvestmentincomefor2011(2010:RM2.48million).

STATISTIKStatistics


Pendapatan Kasar dan Perbelanjaan OperasiGross Income and Operating Expenditure

TAHUNPENDAPATAN

KASAR * (RM JUTA) PERTUMBUHAN (%)

PERBELANJAANOPERASI

(RM JUTA) PERTUMBUHAN (%)

% PERBELANJAANOPERASI KEPADA

PENDAPATAN KASAR

YEAR GROSS INCOME*(RM MILLION)

GROWTH (%) OPERATINGEXPENDITURE(RM MILLION)

GROWTH (%) % OF OPERATINGEXPENDITURE TO

GROSS INCOME

2007 18,287.8 24.15 509.4 11.86 2.79

2008 19,998.9 9.36 615.9 20.91 3.08

2009 21,511.7 7.56 651.1 5.72 3.03

2010 24,405.4 13.45 752.9 15.64 3.08

2011 27,574.2 12.98 893.8 18.71 3.24

nOTA: *Termasukjumlahelaunrugiterjejasatasasetkewangandicatatsemuladanpembalikanrugiterjejasataspelaburandalamsyarikatsubsidiaridansyarikatbersekutu.

note: * inclusive of writeback of impairment allowance on financial assets and reversal of impairment loss on investment in subsidiaries and associates.

AnggotaSTAFF

GRED/GRADE

TAHUNYEAR 21–31 18–20 14–17 08–12

JUMLAHTOTAL

2004 572 993 2,528 663 4,756

2005 599 993 2,379 675 4,646

2006 655 981 2,268 621 4,525

2007 758 1,104 2,733 581 5,176

2008 837 1,236 2,745 546 5,364

2009 862 1,236 2,707 526 5,331

2010 938 1,243 2,612 526 5,319

2011 951 1,220 2,542 449 5,162

nota: Gred8–20:BukanEksekutif note : Grade 8 – 20 : non-executive Gred21–31:Eksekutif Grade 21 – 31 : executive

STATISTIKStatistics



Statistik Kewangan Bagi Tempoh 5 Tahun5 Year Financial Statistics

TAHU

NCA

RUM

AN *

(R

M J

UTA)

PELA

BURA

NTE

RKUM

PUL

**(R

M J

UTA)

PEND

APAT

AN

KASA

R **

*(R

M J

UTA)

PERB

ELAN

JAAN

OP

ERAS

I (R

M J

UTA)

PENG

ELUA

RAN

****

(RM

JUT

A)

DIVI

DEN

TAHU

NAN

DIKR

EDIT

KAN

KE

AKAU

N AH

LI

(RM

JUT

A)KA

DAR

DIVI

DEN

(%)

ASET

TERK

UMPU

L(R

M J

UTA)

YEAR

CONT

RIBU

TION

S *

(RM

MIL

LION

)AC

CUM

ULAT

EDIN

VEST

MEN

TS **

(RM

MIL

LION

)

GROS

S IN

COM

E **

*(R

M M

ILLI

ON)

OPER

ATIN

GEX

PEND

ITUR

E (R

M M

ILLI

ON)

WIT

HDRA

WAL

S **

**(R

M M

ILLI

ON)

ANNU

AL D

IVID

END

CRED

ITED

TO M

EMBE

RS’

ACCO

UNTS

(RM

MIL

LION

)

RATE

OF

DIVI

DEND

(%)

ACCU

MUL

ATED

ASSE

TS(R

M M

ILLI

ON)

2007

28,926

313,013

18,288

509

21,309

16,787

5.80

318,298

2008

34,543

342,014

19,999

616

21,741

14,288

4.50

346,115

2009

33,468

371,263

21,512

651

24,711

19,372

5.65

375,464

2010

35,756

440,517

24,405

753

26,410

21,610

5.80

445,848

2011

41,4

3446

9,22

027

,574

894

30,0

1924

,466

6.00

477,

505

nOTA

:*

Merup

akan

amau

ncaruman

yan

gditerimada

ripa

dam

ajikan

dan

tida

kterm

asuk

pen

ebus

anpelab

uran

sah

amaman

aholehah

li,pen

ebus

an/pem

batalanskim

anu

itiolehah

lida

nlain-lainpe

mulihan

/pelarasan

aka

uncarum

anahli.

**

Mulaitahu

n20

10,bak

ipelab

uran

yan

gdinyatak

andalam

Pen

yataKed

uduk

anKew

anga

nad

alah

berda

sarkan

piawaian

perak

auna

nFR

S139(Finan

cialInstrumen

ts:R

ecog

nitio

nAn

dMea

suremen

t).

***

Term

asuk

jumlahelau

nrugite

rjejasatasasetkew

anga

ndicatats

emulada

npe

mba

likan

rug

iterjejasataspelab

uran

dalam

syarika

tsub

sidiarid

ansyarika

tberseku

tu.

****P

enge

luaran

term

asuk

pen

gemba

liancaruman

.

nOTE

:*

Rep

resentstheam

ountofc

ontributions

receivedfrom

employerswhich

isnotin

clus

iveofred

emptionofin

vestmen

tinun

ittrus

tbymem

bers’,refund

/can

cella

tionofann

uity

policiesbym

embe

rsand

otherreins

tatemen

ts/adjus

tmen

tsofm

embe

rscon

tributionaccoun

ts.

**

With

effe

ctfrom2010,in

vestmen

tba

lancesasstated

inthe

Statemen

tOfFina

ncialPosition

arein

accorda

ncewith

accou

ntingstan

dardFRS139(Finan

cialIns

trum

ents:

Recog

nitio

nAn

dMea

suremen

t).

***

Inclus

iveofwriteba

ckofimpa

irmen

tallo

wan

ceonfin

ancialassetsan

dreversalofimpa

irmen

tlosson

investmen

tinsu

bsidiariesand

associates.

****W

ithdraw

alsinclud

erefund

ofcon

tribution.

STATISTIKStatistics


Pendapatan KasarGross Income

2007RM JUTA

RM MILLION

2008RM JUTA

RM MILLION

2009RM JUTA

RM MILLION

2010RM JUTA

RM MILLION

2011RM JUTA

RM MILLION

JUMLAH PELABURAN (1)/TOTAL INVESTMENTS (1) 313,013.38 342,014.04 342,014.04 440,517.20 469,219.78

JEnISPEnDAPATAn:TYPESOFInCOME:

FAEDAH/KEUnTUnGAnDARIPADAPELABURAnInTEREST/PROFITFROMInVESTMEnTS

11,463.22 12,058.80 11,945.08 12,568.69 13,317.00

PEnDAPATAn/(KERUGIAn)DARIPEnGURUSDAnALUARInCOME/(LOSSES)FROMEXTERnALFUnDMAnAGERS

1,680.07 928.35 995.98 2,943.94 4,398.96

DIVIDEnDARIPADAPELABURAn/DIVIDEnDFROMInVESTMEnTS 2,711.05 3,461.89 2,911.58 4,080.65 4,853.20

KEUnTUnGAn/(KERUGIAn)PELABURAnTERHASILREALISEDPROFIT/(LOSS)FROMTRADInGOFInVESTMEnT

1,300.21 2,621.36 1,277.03 4,278.41 4,435.22

ELAUnRUGITERJEJASATASASETKEWAnGAnDICATATSEMULA/PEMBALIKAnRUGITERJEJASWRITEBACKOFIMPAIRMEnTALLOWAnCEOnFInAnCIALASSETS/REVERSALOFIMPAIRMEnTLOSS

1,004.40 693.72 4,226.32 263.11 274.70

PEnDAPATAnSEWA/REnTALInCOME 55.00 77.95 84.54 100.70 113.75

KEUnTUnGAn/(KERUGIAn)TIDAKnYATADARIASETKEWAnGAnPADAnILAISAKSAMAMELALUIPEnYATAUnTUnG/RUGIUnREALISEDGAIn/(LOSS)OnFInAnCIALASSETSATFAIRVALUETHROUGHPROFITAnDLOSS

– – – 88.10 115.07

PEnDAPATAnPELBAGAI(2)/MISCELLAnEOUSInCOME(2) 73.87 156.80 71.16 81.77 66.28

JUMLAH PENDAPATAN KASAR/TOTAL GROSS INCOME 18,287.82 19,998.87 21,511.69 24,405.37 27,574.18

DIVIDEnYAnGDIKREDITKAnKEDALAMAKAUnAHLIDIVIDEnDCREDITEDInTOMEMBERS'ACCOUnTS

16,786.84 14,288.33 19,371.92 21,610.13 24,466.02

PEnDAPATAnBERSIH(3)/nETInCOME(3) 16,866.24 14,307.31 19,626.46 22,312.43 25,084.44

KADAR DIVIDEN/DIVIDEND RATE 5.80% 4.50% 5.65% 5.80% 6.00%

nOTA:1) Mulaitahun2010,bakipelaburanyangdinyatakandalamPenyataKedudukanKewanganadalahberdasarkanpiawaianperakaunanFRS139 (FinancialInstruments:RecognitionAndMeasurement).2) Merupakanfaedah/keuntunganbakibank,pendapatanpelbagaipelaburandanpendapatanbukanpelaburan.3) Selepasmengambilkiraelaunrugiterjejasatasasetkewanganbersihdanrugiterjejasataspelaburandalamsyarikatsubsidiaridanbersekutu

bersih,perbelanjaanoperasi,cajberkanundanpembalikanrugiterjejasatashartatanah.

nOTE:1) Witheffectfrom2010,investmentbalancesasstatedintheStatementOfFinancialPositionareinaccordancewithaccountingstandardFRS139

(FinancialInstruments:RecognitionAndMeasurement).2) Consistsofinterest/profitfrombankbalances,miscellaneousinvestmentincomeandnoninvestmentincome.3) Aftertakingintoaccountnetimpairmentallowanceonfinancialassetsandnetimpairmentlossoninvestmentinsubsidiariesandassociates,

operatingexpenditure,statutorychargesandreversalofimpairmentlossonproperty.

STATISTIKStatistics



BIL.NO.

SAHAMSHARES

PERATUS PEGANGAN (%)PERCENTAGE HOLDING (%)

1 MalaysiaBuildingSocietyBhd 65.50%

2 RHBCapitalBhd 44.99%

3 MalaysianResourcesCorporationBhd 42.21%

4 MediaPrimaBhd 18.68%

5 ShellRefiningCo.Bhd 17.03%

6 Digi.ComBhd 16.72%

7 IJMCorporationBhd 15.51%

8 WCTBhd 15.46%

9 DialogGroupBhd 15.08%

10 AMMBHoldingsBhd 14.83%

11 TenaganasionalBhd 14.42%

12 GentingPlantationsBhd 14.14%

13 SimeDarbyBhd 13.75%

14 AxiataGroupBhd 13.35%

15 UMWHoldingsBhd 13.23%

16 KPJHealthcareBhd 12.99%

17 StarPublication(M)Bhd 12.93%

18 UnitedPlantationsBhd 12.91%

19 CIMBGroupHoldingsBhd 12.91%

20 PetronasChemicalGroupBhd 12.89%

21 SPSetiaBhd 12.63%

22 PetronasGasBhd 12.58%

23 KualaLumpurKepongBhd 12.49%

24 AxisRealEstateInvestmentBhd 12.47%

25 Cycle&CarriageBintangBhd 12.38%

26 AllianceFinancialGroupBhd 12.38%

27 MalayanBankingBhd 12.34%

28 IJMPlantationBhd 12.29%

29 HongLeongBankBhd 12.29%

30 Telekom(M)Bhd 12.09%

Senarai Pelaburan Ekuiti (Dalaman Dan Luaran)Bagi 30 Syarikat Yang Tersenarai Di Bursa Malaysia Setakat 31 Disember 2011List Of Top 30 Equity Investment (Internal And External)InCompaniesListedAtBursaMalaysiaAsAt31December2011

STATISTIKStatistics


Pengeluaran Mengikut SkimWithdrawal by Schemes

TAHU

N/YE

AR20

0720

0820

0920

1020

11

SKIM

PEN

GELU

ARAN

/BI

L.AM

AUN

BIL.

AMAU

NBI

L.AM

AUN

BIL.

AMAU

NBI

L.AM

AUN

WIT

HDRA

WAL

SCH

EMES

NO.

AMOU

NT(R

M)

NO.

AMOU

NT(R

M)

NO.

AMOU

NT(R

M)

NO.

AMOU

NT(R

M)

NO.

AMOU

NT(R

M)

Kematian/De

ath

23,780

46

3,17

7,37

033

,912

54

0,84

4,74

237

,984

61

0,89

4,79

741

,027

660,86

0,61

841

,125

731,45

2,21

8

55Tah

un/ 55Years

136,15

56,57

6,54

1,43

515

4,53

26,69

1,77

0,95

620

9,08

68,34

3,36

7,70

923

5,93

18,51

6,38

0,05

927

7,04

010

,231

,416

,460

Hilang

Upa

ya/ In

capa

citatio

n5,99

120

7,12

9,53

16,48

925

9,02

4,31

07,12

831

3,67

4,98

16,45

628

9,97

5,73

26,65

832

5,83

6,97

8

Men

ingg

alka

nneg

ara/Le

avingCo

untry

1,81

613

4,08

1,02

22,15

114

5,78

9,50

32,43

615

7,87

9,34

92,56

418

5,95

4,74

12,69

018

9,84

1,61

9

50Tah

un/ 50Years

107,37

42,71

1,28

5,13

710

7,08

02,82

7,14

6,93

511

9,32

43,15

0,76

4,83

912

3,10

13,20

7,13

4,48

913

0,58

63,60

5,90

3,95

5

Perumah

anKosRen

dah/Lo

wCostH

ousing

––

––

––

––

––

Perumah

anBuk

anKosRen

dah/

non

Low

CostH

ousing

––

––

––

––

––

BeliRu

mah

Pertama/Bu

yFirs

tHou

se11

0,19

31,65

1,48

9,73

711

1,40

11,72

4,12

7,84

898

,473

1,52

9,75

9,54

198

,662

1,63

7,08

1,19

992

,077

1,69

8,96

4,20

7

BeliRu

mah

Ked

ua/ BuySecon

dHo

use

8,00

025

3,98

6,27

68,05

526

8,11

1,94

97,35

723

9,19

1,71

87,35

225

9,46

8,56

46,44

123

9,39

7,55

3

Ansu

ranBu

lana

nPinjam

anPerum

ahan

/Ho

usingLo

anM

onthlyInstallm

ent

244

147,29

766

5,03

350

1,65

5,56

21,11

7,50

581

1,31

5,81

11,14

7,02

780

4,91

3,18

91,07

6,38

881

5,02

3,15

9

Men

gurang

kan/Men

yelesaikan

Bak

iPinjaman

Pe

rumahan/ Reduction/Re

demptionOfHousin

gLo

an27

8,96

54,03

2,16

0,99

721

5,75

12,90

1,28

4,88

8201

,267

2,18

9,31

9,92

516

9,14

81,60

8,45

0,18

816

9,02

91,59

6,13

8,49

4

Rumah

Kam

pung

/ Villag

eHo

use

––

––

––

––

––

Divid

enTah

unan

/ Ann

ualD

ivide

nd2,12

932

,509

,435

2,009

35

,694

,537

1,93

325

,930

,679

1,85

730,92

8,43

51,79

930,44

9,67

5

Men

carumSem

ula/Re

–Election

––

––

––

––

Kesiha

tan/He

alth

4,86

151

,102

,703

5,07

548

,482

,331

4,87

639

,696

,653

4,31

035

,343

,178

4,45

839

,392

,342

BayaranBe

rkala/Pe

riodicalP

aymen

t7,40

426

,023

,948

7,37

518

,279

,740

6,72

615

,197

,623

5,78

513

,309

,640

3,85

59,34

2,89

9

Pend

idikan

/ Edu

catio

n24

,097

255,81

0,45

435

,215

263,86

7,87

654

,875

26

6,00

0,50

659

,886

269,86

6,93

162

,537

277,97

0,19

7

Peke

rjaBerpe

ncen

/PesaraPilih

an/

Pens

iona

bleEm

ployee

/Option

53,511

1,40

0,43

6,74

959

,847

1,57

4,51

0,67

279

,574

3,29

0,66

3,77

992

,180

4,00

9,78

3,00

993

,174

3,02

9,35

9,62

7

Skim

Bayaran

Bulan

an/ M

onthlyPa

ymen

tSch

eme

113

170,41

711

412

4,38

612

211

3,65

912

912

7,31

012

213

4,27

3

Peng

elua

ranBa

giSim

pana

nMeleb

ihiR

M1Ju

ta/

With

draw

alsFo

rSavingsExcee

ding

RM1Million

163

82,618

,223

893

362,34

7,07

794

032

2,58

6,72

61,46

636

2,42

8,37

91,87

548

1,96

6,93

1

Jum

lah/

Tota

l76

4,79

617

,878

,670

,731

1,41

4,93

218

,163

,063

,313

1,94

9,60

621

,306

,358

,295

1,99

6,88

121

,892

,005

,661

1,96

9,85

423

,302

,590

,587

Skim

Pel

abur

an A

hli/

Mem

bers

’ Inv

estm

ent S

chem

e29

6,23

53,29

5,63

6,85

341

5,85

33,32

6,93

4,57

542

7,45

53,31

3,06

5,28

550

6,95

04,41

5,59

0,62

476

8,79

36,60

0,30

0,38

3

Faed

ahTam

baha

nKe

matian/De

athBe

nefits

15,855

39,473

,250

13,484

34,956

,488

14,710

36,701

,885

15,298

38,243

,000

15,120

37,797

,000

Faed

ahTam

baha

nHilang

Upa

ya/

Incapa

citatio

nBe

nefits

706

3,46

4,00

080

34,21

7,43

888

74,48

0,73

795

84,79

0,00

094

44,72

0,00

0

Jum

lah/

Tota

l16

,561

42,937

,250

14

,287

39,173

,926

15

,597

41,182

,622

16

,256

43,03

3,00

016

,064

42

,517

,000

STATISTIKStatistics



PKWSKANDUNGAN

LAPORANKEWANGAN

160 SIJILKETUAAUDITnEGARAMEnGEnAIPEnYATAKEWAnGAnKUMPULAnWAnGSIMPAnAnPEKERJABAGITAHUnBERAKHIR31DISEMBER2011

161 PEnYATAPEnGERUSIDAnSEORAnGAHLILEMBAGASELAKUPEMEGAnGAMAnAH

161 PEnGAKUAnOLEHPEGAWAIUTAMAYAnGBERTAnGGUnGJAWABKEATASPEnGURUSAnKEWAnGAnKUMPULAnWAnGSIMPAnAnPEKERJA

162 PEnYATAKEDUDUKAnKEWAnGAnPADA31DISEMBER2011

163 PEnYATAPEnDAPATAnBAGITAHUnBERAKHIR31DISEMBER2011

164 PEnYATAPEnDAPATAnKOMPREHEnSIFBAGITAHUnBERAKHIR31DISEMBER2011

165 PEnYATAPERUBAHAnDALAMDAnAAHLIBAGITAHUnBERAKHIR31DISEMBER2011

167 PEnYATAALIRAnTUnAIBAGITAHUnBERAKHIR31DISEMBER2011

170 nOTA-nOTAKEPADAPEnYATAKEWAnGAnBAGITAHUnBERAKHIR31DISEMBER2011

Saya telah mengaudit Penyata Kewangan Kumpulan Wang Simpanan Pekerja dan Kumpulan bagi tahun berakhir 31 Disember 2011. Pihak pengurusan bertanggungjawab terhadap Penyata Kewangan ini. Tanggungjawab saya adalah mengaudit dan memberi pendapat terhadap Penyata Kewangan tersebut.

Pengauditan telah dilaksanakan mengikut Akta Audit 1957 dan berpandukan piawaian pengauditan yang diluluskan. Piawaian tersebut menghendaki pengauditan dirancang dan dilaksanakan untuk mendapat kepastian yang munasabah sama ada Penyata Kewangan adalah bebas daripada kesilapan atau ketinggalan yang ketara. Pengauditan ini termasuk memeriksa rekod secara semak uji, menyemak bukti yang menyokong angka dan memastikan pendedahan yang mencukupi dalam Penyata Kewangan. Penilaian juga dibuat terhadap prinsip perakaunan yang digunakan, unjuran signifikan oleh pengurusan dan persembahan Penyata Kewangan secara keseluruhan. Saya percaya pengauditan yang dilaksanakan memberi asas yang munasabah terhadap pendapat saya.

Pada pendapat saya, Penyata Kewangan ini memberi gambaran yang benar dan saksama terhadap kedudukan kewangan Kumpulan Wang Simpanan Pekerja dan Kumpulan pada 31 Disember 2011, hasil operasi dan aliran tunainya untuk tahun tersebut berdasarkan piawaian perakaunan yang diluluskan.

Saya telah mempertimbangkan Penyata Kewangan dan laporan juruaudit bagi semua syarikat subsidiari yang tidak diaudit oleh saya seperti yang dinyatakan dalam nota kepada Penyata Kewangan Disatukan. Saya berpuas hati bahawa Penyata Kewangan berkenaan telah disatukan dengan Penyata Kewangan Kumpulan Wang Simpanan Pekerja adalah dalam bentuk dan kandungan yang sesuai dan wajar bagi tujuan penyediaan Penyata Kewangan Disatukan. Saya juga telah menerima maklumat dan penjelasan yang memuaskan sebagaimana yang dikehendaki bagi tujuan tersebut.

Laporan juruaudit mengenai Penyata Kewangan syarikat subsidiari berkenaan tidak mengandungi sebarang pemerhatian yang boleh menjejaskan Penyata Kewangan yang disatukan.

PENYATA PENGERUSI DAN SEORANG AHLI LEMBAGA SELAKU PEMEGANG AMANAH

PENGAKUAN OLEH PEGAWAI UTAMA YANG BERTANGGUNGJAWAB KE ATAS PENGURUSAN KEWANGAN KUMPULAN WANG SIMPANAN PEKERJA

Kami, TAN SRI SAMSUDIN BIN OSMAN dan HALIM BIN HAJI DIN yang merupakan Pengerusi dan salah seorang AhliLembaga, selaku wakil Pemegang Amanah kepada KUMPULAN WANG SIMPANAN PEKERJA, dengan ini menyatakanbahawa, pada pendapat Lembaga, Penyata Kewangan yang mengandungi Penyata Kedudukan Kewangan, PenyataPendapatan, Penyata Pendapatan Komprehensif, Penyata Perubahan Dalam Dana Ahli dan Penyata Aliran Tunai yangberikut ini beserta dengan nota-nota kepada Penyata Kewangan di dalamnya, adalah disediakan untuk menunjukkanpandanganyangbenardansaksamaberkenaankedudukanKUMPULAN WANG SIMPANAN PEKERJApada31Disember2011dan hasil kendaliannya serta perubahan kedudukan kewangannya bagi tahun berakhir pada tarikh tersebut.

Bagi pihak Lembaga, Bagi pihak Lembaga,

nAMA :TAnSRI SAMSUDInBInOSMAn nAMA :HALIMBInHAJIDInGELARAn:PEnGERUSIKWSP GELARAn:AHLI LEMBAGAKWSPTARIKH :02MAC 2012 TARIKH :02MAC 2012TEMPAT :KUALA LUMPUR TEMPAT :KUALA LUMPUR

Saya, SAZALIZA BIN ZAINUDDIN, selaku wakil Pemegang Amanah dan pegawai utama yang bertanggungjawab ke ataspengurusan kewangan dan rekod-rekod perakaunan KUMPULAN WANG SIMPANAN PEKERJA dengan ikhlasnya mengakuibahawa Penyata Kedudukan Kewangan, Penyata Pendapatan, Penyata Pendapatan Komprehensif, Penyata Perubahan DalamDana Ahli dan Penyata Aliran Tunai dalam kedudukan kewangan yang berikut ini beserta dengan nota-nota kepada PenyataKewangan di dalamnya mengikut sebaik-baik pengetahuan dan kepercayaan saya, adalah betul dan saya membuat ikrar inidengan sebenarnyamempercayai bahawa ia adalah benar danmengikut kehendak-kehendakAkta AkuanBerkanun, 1960.

Sebenarnyadan ]sesungguhnyadiakui ]olehpenamadiatasdi ]KUALALUMPUR ] SAZALIZABInZAInUDDInpada27Februari2012 ] Dihadapansaya

PESURUHJAYASUMPAH Lot1.08,Tingkat1, BangunanKWSP, Jln.RajaLaut, 50350KualaLumpur.


PENYATA KEDUDUKAN KEWANGANPADA 31DISEMbER 2011

KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

PENGGUNAAN DANA AHLI

ASETAset Cukai Tertunda 6 881 376 – –Harta Tanah, Loji DanPeralatan 7 402,396 389,520 282,686 281,585Harta TanahPelaburan 8 6,905,221 3,698,854 1,398,746 1,429,496Aset TakKetara 9 13,104 27,585 10,536 25,623Prabayaran TanahMilik Pajak 10 124,927 116,937 115,306 107,151AsetDipegangUntuk Jualan 11 21,104 209,355 17,913 209,355TanahDipegangUntukPembangunan Harta Tanah 12 – 64,954 – 64,954KosPembangunanHarta Tanah 13 322,568 150,309 195,206 148,140PelaburanDalamSyarikat Subsidiari 14 – – 8,246,271 3,365,493PelaburanDalamSyarikatBersekutu 15 20,721,463 11,328,667 18,272,231 9,678,159Aset PelaburanDipegang SehinggaMatang 16 177,197,491 167,701,121 176,993,137 167,701,121Aset Kewangan SediaDijual 17 163,151,405 151,578,739 163,100,334 151,578,739Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi 18 2,469,409 946,978 1,715,747 672,946Pinjaman, PendahuluanDanPembiayaan 19 99,961,002 93,719,255 84,514,996 83,012,725InventoriHarta Siap 20 121,839 121,780 – –Penghutang, CagaranDanPrabayaran 21 2,047,494 1,579,746 1,662,206 1,342,114TuntutanCukai BelumDiterima 362,131 451,707 382,527 456,607FaedahDanDividen Terakru 5,536,656 2,842,603 5,571,559 2,842,571Deposit Dengan Institusi Kewangan 22 15,998,544 23,733,987 14,786,823 22,665,525Baki BankDanWang Tunai 613,527 410,983 238,937 265,875

Jumlah Aset 495,971,162 459,073,456 477,505,161 445,848,179

LIABILITILiabiliti Cukai Tertunda 6 24,992 19,256 – –PeruntukanBagiManfaat Pekerja 23 159,033 139,802 159,033 139,802PeruntukanBagi Cukai 82,356 84,004 – –PinjamanDanOverdraf 24 2,037,928 1,168,712 – –PemiutangPengeluaranCaruman 72,122 75,936 72,122 75,936Liabiliti Derivatif 47,400 35,175 47,400 35,175Deposit DanPendahuluan 25 13,699,636 10,624,507 152,892 140,839PemiutangDan Liabiliti Terakru 26 836,554 691,567 547,649 496,921

Jumlah Liabiliti 16,960,021 12,838,959 979,096 888,673

ASET BERSIH 479,011,141 446,234,497 476,526,065 444,959,506

DANA AHLIAkaunCaruman 27 445,938,912 407,565,535 445,938,912 407,565,535Lain-lainDana 32,166,369 38,010,206 30,587,153 37,393,971

478,105,281 445,575,741 476,526,065 444,959,506Kepentingan TakKawal 905,860 658,756 – –

479,011,141 446,234,497 476,526,065 444,959,506

nota-nota yang disertakan adalahmerupakan sebahagian asasi Penyata ini.

162 Lembaga Kumpulan Wang Simpanan PekerjaLaporan Tahunan 2011 Annual Report

PENYATA PENDAPATANbAgI TAHuNbERAKHIR 31DISEMbER 2011

KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

PENDAPATAN

PendapatanPelaburanKasar 28 28,056,825 24,763,362 27,235,295 24,063,531PerbelanjaanPelaburan 29 (316,077) (251,930) (154,757) (109,378)Rugi Terjejas Atas Aset Kewangan PelaburanBersih 30 (1,313,320) (1,271,662) (1,138,648) (1,159,428)Rugi Terjejas AtasPelaburanDalamSyarikat Subsidiari Dan SyarikatBersekutuBersih 31 – – (6,667) 234,966

PendapatanPelaburanBersih 26,427,428 23,239,770 25,935,223 23,029,691

PendapatanBukanPelaburan 32 241,827 172,635 64,191 78,729

26,669,255 23,412,405 25,999,414 23,108,420

PerbelanjaanOperasi 33 (1,471,620) (1,033,507) (893,778) (752,953)Caj Berkanun 34 (42,517) (43,033) (42,517) (43,033)PembalikanRugi Terjejas AtasHarta Tanah 35 21,316 – 21,316 –

Jumlah Perbelanjaan (1,492,821) (1,076,540) (914,979) (795,986)

Pendapatan Bersih 25,176,434 22,335,865 25,084,435 22,312,434

KeuntunganDalamSyarikatBersekutu 1,009,812 813,916 – –

PendapatanBersih SebelumCukaiDan Zakat 26,186,246 23,149,781 25,084,435 22,312,434

CukaiDan Zakat 36 (112,310) (63,599) – –

Pendapatan Bersih Selepas Cukai Dan Zakat 26,073,936 23,086,182 25,084,435 22,312,434

Agihan Kepada: PencarumKWSP 25,973,856 23,036,554 Kepentingan TakKawal 100,080 49,628

26,073,936 23,086,182

nota–nota yang disertakan adalahmerupakan sebahagian asasi Penyata ini.


PENYATA PENDAPATAN KOMPREHENSIFbAgI TAHuNbERAKHIR 31DISEMbER 2011

KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

Pendapatan Bersih Selepas Cukai Dan Zakat 26,073,936 23,086,182 25,084,435 22,312,434

Lain-lainPendapatan/(Kerugian)Komprehensif: Aset Kewangan SediaDijual (7,095,998) 13,402,331 (7,095,998) 13,402,331 PerbezaanPertukaranMataWangAsing 73,560 – – –

37 (7,022,438) 13,402,331 (7,095,998) 13,402,331

Jumlah Pendapatan Komprehensif 19,051,498 36,488,513 17,988,437 35,714,765



PENYATA PERUBAHAN DALAM DANA AHLIbAgI TAHuNbERAKHIR 31DISEMbER 2011

KUMPULAN

<________ Tidak Boleh Diagih ________> Boleh DiagihRizab

Aset KewanganSedia Dijual

RizabSeksyen 50(3)

RizabPertukaran

Asing

Lebihan/(Kurangan)

Terkumpul

Jumlah

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

Pada 31Disember 2009 23,162,278 40,000 – 951,095 24,153,373PelarasanKali PertamaPematuhan FRS 139Mulai 2010 – – – (656,171) (656,171)

Baki Dinyatakan Semula 23,162,278 40,000 – 294,924 23,497,202LebihanPendapatan Tahun Semasa – – – 23,036,554 23,036,554PindahanDari FaedahAtasCaruman LewatBayar – 10,797 – – 10,797Penilaian Semula Aset Kewangan SediaDijual 20,760,189 – – – 20,760,189PelarasanAtasPenjualan AsetKewangan SediaDijual (7,357,858) – – – (7,357,858)

Bayaran Invokasi Seksyen 50(3) – (10,797) – – (10,797)Dividen 2010DikreditkanKepada AkaunAhli-5.80% – – – (21,610,131) (21,610,131)DividenPengeluaranCaruman – – – (302,150) (302,150)PelarasanDividenUntukTahunTerdahulu – – – (13,600) (13,600)

Pada 31Disember 2010 36,564,609 40,000 – 1,405,597 38,010,206

Pada 31 Disember 2010 36,564,609 40,000 – 1,405,597 38,010,206LebihanPendapatan Tahun Semasa – – – 25,973,856 25,973,856PindahanDari FaedahAtasCaruman LewatBayar – 19,497 – – 19,497Penilaian Semula Aset Kewangan SediaDijual (1,076,457) – – – (1,076,457)PelarasanAtasPenjualan Aset Kewangan SediaDijual (6,019,541) – – – (6,019,541)PerbezaanPertukaranMataWangAsing – – 73,560 – 73,560

Bayaran Invokasi Seksyen 50(3) – (19,497) – – (19,497)Dividen 2011DikreditkanKepada AkaunAhli-6.00% – – – (24,466,019) (24,466,019)DividenPengeluaranCaruman – – – (320,315) (320,315)PelarasanDividenUntuk Tahun Terdahulu – – – (8,921) (8,921)

Pada 31 Disember 2011 29,468,611 40,000 73,560 2,584,198 32,166,369



KWSP

<____Tidak Boleh Diagih ____> Boleh DiagihRizab


RizabSeksyen 50(3)

Lebihan /(Kurangan)

Terkumpul

Jumlah

(RM’000) (RM’000) (RM’000) (RM’000)

Pada 31Disember 2009 23,162,278 40,000 760,195 23,962,473PelarasanKali PertamaPematuhanFRS 139Mulai 2010 – – (357,386) (357,386)

Baki Dinyatakan Semula 23,162,278 40,000 402,809 23,605,087LebihanPendapatan Tahun Semasa – – 22,312,434 22,312,434PindahanDari FaedahAtasCaruman LewatBayar – 10,797 – 10,797Penilaian Semula Aset Kewangan SediaDijual 20,760,189 – – 20,760,189PelarasanAtasPenjualan Aset Kewangan SediaDijual (7,357,858) – – (7,357,858)Bayaran Invokasi Seksyen 50(3) – (10,797) – (10,797)Dividen 2010DikreditkanKepadaAkaunAhli-5.80% – – (21,610,131) (21,610,131)DividenPengeluaranCaruman – – (302,150) (302,150)PelarasanDividenUntuk Tahun Terdahulu – – (13,600) (13,600)

Pada 31Disember 2010 36,564,609 40,000 789,362 37,393,971

Pada 31 Disember 2010 36,564,609 40,000 789,362 37,393,971LebihanPendapatan Tahun Semasa – – 25,084,435 25,084,435PindahanDari FaedahAtasCaruman LewatBayar – 19,497 – 19,497Penilaian Semula Aset Kewangan SediaDijual (1,076,457) – – (1,076,457)PelarasanAtasPenjualan Aset Kewangan SediaDijual (6,019,541) – – (6,019,541)Bayaran Invokasi Seksyen 50(3) – (19,497) – (19,497)Dividen 2011DikreditkanKepadaAkaunAhli-6.00% – – (24,466,019) (24,466,019)DividenPengeluaranCaruman – – (320,315) (320,315)PelarasanDividenUntuk Tahun Terdahulu – – (8,921) (8,921)

Pada 31 Disember 2011 29,468,611 40,000 1,078,542 30,587,153


PENYATA PERUBAHAN DALAM DANA AHLI (SAMB.)bAgI TAHuNbERAKHIR 31DISEMbER 2011


PENYATA ALIRAN TUNAIbAgI TAHuNbERAKHIR 31DISEMbER 2011

KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

ALIRAN TUNAI DARI AKTIVITI OPERASIPendapatanBersih SebelumCukaiDan Zakat 26,186,246 23,149,781 25,084,435 22,312,434

PelarasanUntuk:KeuntunganDalamSyarikatBersekutu (1,009,812) (813,916) – –PelarasanPertukaranMataWangAsing 14,209 – – –SusutnilaiAtasHartaTanah,LojiDanPeralatan 48,199 35,302 40,629 28,147Susutnilai AtasHarta TanahPelaburan 49,107 43,298 37,219 31,407PelunasanAset TakKetara 15,421 14,379 14,761 14,013PelunasanPrabayaran TanahMilik Pajak 1,352 1,344 1,187 1,179Rugi Terjejas AtasHarta TanahDitarikBalik – 6,710 – –Rugi Terjejas Atas Aset PelaburanDipegang SehinggaMatang – 350,000 – 350,000Rugi Terjejas Atas Aset Kewangan SediaDijual 1,139,314 830,423 1,139,314 830,423Rugi Terjejas AtasPinjaman, Pendahuluan DanPembiayaan 174,672 112,234 – –Rugi Terjejas AtasPenghutang 9,543 – 9,543 –Rugi Terjejas Atas Aset PelaburanDipegang SehinggaMatangDicatat Semula (594) (11,477) (594) (11,477)Rugi Terjejas Atas Aset Kewangan SediaDijual Dicatat Semula (6,709) (1,096) (6,709) (1,096)Rugi Terjejas AtasPinjaman, PendahuluanDan PembiayaanDicatat Semula (2,906) (8) (2,906) (8)Rugi Terjejas Atas AsetDipegangUntuk Jualan Dicatat Semula – (8,414) – (8,414)Rugi Terjejas/(PembalikanRugi Terjejas) Atas PelaburanDalamSyarikat Subsidiari DanBersekutu – – 6,667 (234,966)Rugi Terjejas AtasHarta TanahDicatat Semula (21,316) – (21,316) –KerugianBersih AtasPelarasannilai Saksama Harta TanahPelaburanGlobal 199,813 40,828 – –PeruntukanBagiManfaat Pekerja 23,465 20,431 23,465 20,431Elaun/HapusKiraHutang LapukDanRagu 17,117 19,164 – –HapusKira/KerugianBersih 167 48 167 48KeuntunganAtasPelupusanHarta Tanah, Loji DanPeralatan (3,157) (265) (40) (258)KeuntunganAtasPelupusanHarta Tanah DitarikBalik – (200) – –KeuntunganAtasPelupusanHarta Tanah Pelaburan (1,100) (1,774) – –KeuntunganAtasPelupusan Inventori – (190) – –SkimSahamPilihanPekerja–ESOS 1,977 2,141 – –

26,835,008 23,788,743 26,325,822 23,331,863



KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

(Tambahan)/KuranganDalamAset Operasi:Aset TakKetara 326 (10,437) 326 (10,437)Prabayaran TanahMilik Pajak (9,342) – (9,342) –Aset PelaburanDipegang SehinggaMatang (9,495,776) (6,553,523) (9,291,422) (6,596,593)Aset Kewangan SediaDijual (12,654,200) (55,048,657) (12,654,200) (55,048,657)Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi (1,583,668) (752,778) (1,042,801) (478,746)AsetDipegangUntuk Jualan 191,442 1,161,759 191,442 1,161,759Deposit Dengan Institusi Kewangan 7,945,044 (1,571,113) 7,945,044 (1,571,113)Pinjaman, PendahuluanDanPembiayaan (6,161,836) (8,274,115) (1,508,908) (5,162,784)Penghutang, CagaranDanPrabayaran (436,660) (974,438) (320,259) (947,487)TuntutanCukai BelumDiterima 94,713 335,764 74,080 330,736Faedah/Dividen Terakru (2,728,993) (403,966) (2,728,988) (403,934)Hasil PenjualanHarta TanahDitarikBalik – 6,200 – –Inventori (59) 3,000 – –

(24,839,009) (72,082,304) (19,345,028) (68,727,256)

Tambahan/(Kurangan)DalamLiabiliti Operasi:CarumanBersih 13,898,437 12,198,838 13,898,437 12,198,838DividenPengeluaran (320,315) (302,150) (320,315) (302,150)PelarasanKali PertamaPematuhan FRS 139 – (357,386) – (357,386)Rizab Aset Kewangan SediaDijual (7,095,998) 36,564,609 (7,095,998) 36,564,609Liabiliti Derivatif 12,225 35,175 12,225 35,175PeruntukanBagiManfaat Pekerja (4,234) (4,264) (4,234) (4,264)PemiutangDan Liabliti Terakru 149,654 13,725 50,728 (82,404)JaminanKeuntungan Tertunda – (6) – –PinjamanDanOverdraf (100,075) 200,119 – –Deposit DanPendahuluan 3,040,258 2,924,305 12,053 2,972PemiutangPengeluaranCaruman (3,814) (4,558) (3,814) (4,558)

9,576,138 51,268,407 6,549,082 48,050,832

BayaranCukaiDan Zakat (105,746) (13,888) – –

CukaiDiperolehi 355 14 – –

Tunai Bersih Dari Aktiviti Operasi 11,466,746 2,960,972 13,529,876 2,655,439


PENYATA ALIRAN TUNAI (SAMB.)bAgI TAHuNbERAKHIR 31DISEMbER 2011


KUMPULAN KWSP

2011 2010 2011 2010Nota (RM’000) (RM’000) (RM’000) (RM’000)

ALIRAN TUNAI DARI AKTIVITI PELABURANPelaburanDalamSyarikat Subsidiari/ Bersekutu (12,522,933) (2,743,779) (13,481,517) (2,136,997)PembelianHarta Tanah, Loji DanPeralatan (50,685) (66,181) (20,374) (31,875)Pembelian Aset TakKetara (1,266) (1,587,250) – –PembelianBersihHarta TanahPelaburan (2,116,423) (351,336) (6,469) (351,336)Kos Tambahan TanahDipegangUntuk PembangunanHarta Tanah 64,954 (8) 64,954 (8)KosPembangunanHarta Tanah (237,392) (89) (47,066) (89)Hasil PenjualanHarta TanahPelaburan 1,600 3,573 – –Hasil PenjualanHarta Tanah, Loji Dan Peralatan 29,000 367 – 162Hasil Penjualan Inventori – 870 – –

Tunai Bersih Diguna Untuk Aktiviti Pelaburan (14,833,445) (4,743,833) (13,490,472) (2,520,143)

ALIRAN TUNAI DARI AKTIVITI PEMBIAYAANModal Saham 389,662 283,922 – –FaedahPinjaman – 1,636,845 – –PendahuluanModal (319,990) 481,522 – –Hasil Dari Terbitan Saham 2,690,136 182 – –TanggunganAtas JualanPinjaman KepadaCagamas 969,291 (36,517) – –BayaranDividenKepadaKepentingan TakKawal

49,445 (18,479) – –

Tunai Bersih Dari Aktiviti Pembiayaan 3,778,544 2,347,475 – –

TambahanBersihDalamTunaiDan Kesetaraan Tunai 412,145 564,614 39,404 135,296TunaiDanKesetaraan Tunai Pada 01 Januari 1,528,204 963,590 314,634 179,338

Tunai Dan Kesetaraan Tunai Pada 31 Disember 38 1,940,349 1,528,204 354,038 314,634


PENYATA ALIRAN TUNAI (SAMB.)bAgI TAHuNbERAKHIR 31DISEMbER 2011


NOTA-NOTA KEPADA PENYATA KEWANGANbAgI TAHuNbERAKHIR 31DISEMbER 2011

1. MAKLUMAT KORPORAT

LembagayangditubuhkandibawahOrdianKWSP,1951yangkemudiannyadipindasebagaiAktaKWSP,1991adalahbadan pemegang amanah kepada Kumpulan Wang Simpanan Pekerja yang merupakan satu rancangan carumantetap.

Ibu Pejabat KWSP terletak di Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur. Setakat 31 Disember 2011,KWSPberoperasi di empatWilayahdan 63 buahCawangan yang terletak di bandar-bandar utama seluruhMalaysia.

2. OBJEKTIF DAN POLISI PENGURUSAN RISIKO KEWANGAN

PolisiPengurusanRisikoKewanganKWSPsecarakeseluruhannyaadalahuntukmengoptimakanpembentukannilaiuntukahli-ahlinyadi sampingmeminimakanpotensi impakmelampaukesandaripadaperubahankadar faedahdankeadaan pasaran kewangan yang tidakmenentu.

KWSPperlumemastikanaktiviti-aktivitipelaburanadalahseimbangdiantarasasarandividen tahunandanpelbagairisiko kewangan.

KeseluruhanrangkakerjapengurusanrisikoKWSPdigunapakaiuntukmeminimumkanpotensikesanburukkeataspenilaian kewangan. Pelaburan KWSP adalah berdasarkan kepada alokasi strategik yang luas untuk jangka masapanjang dan alokasi dana yang optimum secara strategik untuk kelas-kelas aset. Alokasi Aset Strategik atau SAAsecara lazimnya adalah berdasarkan kepada profil risiko/pulangan penanda aras untuk setiap kelas aset.Kepelbagaian potensi alokasi aset akan menghasilkan magnitud risiko yang berbeza. Berdasarkan pulangan danrisiko tertentu untuk setiap alokasi aset, akan membolehkan Panel Pelaburan menyelaraskan alokasi dana bagiKWSP sehinggamencapai alokasi optimum yang strategik.

SAAmelibatkan aras tertinggi dalammembuat keputusan pelaburan dan merupakan langkah terpenting di dalamproses pelaburan kerana iamenentukan tahap risikomajoriti bagi pelaburan.

Keputusanmengenai SAA adalah tertakluk kepadaPernyataanRisikoKawalanKWSP seperti berikut:

i. KWSP tidak akan bertoleransi lebih daripada 10% jangkaan dividenmenurun ke tahap kurang daripada 2.50%padamana-mana tahun sepanjang 10 tahun akan datang.

ii. KWSP tidakakanbertoleransi lebihdaripadasatuper tiga jangkaandividen tahunanmenurunkurangdaripadainflasi +2%padamana-mana tahun sepanjang tempoh tiga tahun berturut-turut.

iii. KWSP tidak akan bertoleransi lebih daripada 5% jangkaan terdapat Aset Kewangan Sedia Dijual negatif padaakhirmana-mana tahun yang lebih besar daripada 5% dari nilai buku aset.

Keputusan lain di dalam proses pelaburan ialah mengenai Alokasi Aset Taktikal (TAA), yang membenarkan KWSPuntuk mempelbagaikan alokasi bagi setiap kelas aset berpandukan kepada alokasi strategik yang ditentukan didalamSAA danmencegah lebihan lencongan daripada SAA.

Dalam mencapai misinya, KWSP perlu mengurus pelbagai risiko yang timbul dari persekitaran perniagaan yangsentiasa berubah. Risiko-risiko ini termasuklah risiko operasi dan risiko kewangan.

2.1 Risiko Operasi

Risiko Operasi ditakrifkan sebagai risiko kerugian yang timbul daripada proses dalaman yang mengalamikegagalan atau tidakmencukupi, anggota atau sistem atau dari aktiviti luaran.

Pengurusan risiko operasi digunakan untukmenyokong danmengukuhkan aktiviti dalam semua bidang untukmemastikan ianyamenjadi sebahagian proses pembuatan keputusan dan budaya korporat.


2. OBJEKTIF DAN POLISI PENGURUSAN RISIKO KEWANGAN (SAMB.)

2.1 Risiko Operasi (Samb.)

Pendekatan pengurusan risiko operasi yang terancang dan konsisten diguna pakai untuk menjajar strategi,polisi,proses,anggota,teknologidanpengetahuanyangbertujuanuntukmenilaidanmenguruskanketidaktentuandalam mewujudkan nilai untuk melindungi kedudukan kewangan KWSP, reputasi dan keahlian sertamengoptimakan perkhidmatan kepada ahli-ahlinya.

KWSP sentiasamemacu kepada penerapan budaya risiko di kalangan anggotanyamelalui pembelajaran risikodan pelaksanaan kawalan dan prosedur.

2.2 Risiko Kewangan

Risiko Kewangan adalah risiko yang berkaitan dengan perubahan pelbagai aspek ekonomi yang memberiimplikasi kepada kestabilan kewangan KWSP. Terdapat tiga jenis risiko kewangan yang dihadapi oleh KWSPsebagaimana berikut:

i. Risiko kredit;

ii. Risiko kecairan; dan

iii. Risiko pasaran (yang terdiri daripada risiko harga, risiko kadar faedah dan risiko kadar pertukaranmatawang asing).

Polisi terperinci mengenai setiap jenis risiko kewangan yang disenaraikan di atas adalah sebagaimana yangdidedahkan dinota 41.

3. AKTIVITI UTAMA

Aktiviti utamaLembaga adalahmenerima danmengutip caruman,memproses pengeluaran simpanan dan lain-lainfaedahkepadaahliatauwarismerekaapabilasyarat-syaratpengeluarandipenuhisertamelaburkansemuawangnyauntuk kepentingan ahli. Aktiviti utama syarikat subsidiari dan syarikat bersekutu adalah seperti yang dinyatakan dinota 44 dan 45 kepadaPenyataKewangan.

4. RINGKASAN POLISI PERAKAUNAN YANG PENTING

Melainkan dinyatakan sebaliknya, polisi perakaunan berikut telah diterima pakai secara konsisten dengan piawaianperakaunan yang dipatuhi dalam tahun terdahulu dan diaplikasi kepada item-item yang dianggap material kepadaPenyataKewangan.

4.1 Asas Perakaunan

PenyataKewanganKumpulan danKWSP telah disediakanmengikut:

i. Kelaziman kos sejarah; dan

ii. Piawaian perakaunan yang diluluskan oleh Lembaga Piawaian Perakaunan Malaysia (MASB) di Malaysiabagi Entiti selain dari Entiti Persendirian.

NOTA-NOTA KEPADA PENYATA KEWANGAN (SAMB.)bAgI TAHuNbERAKHIR 31DISEMbER 2011


4. RINGKASAN POLISI PERAKAUNAN YANG PENTING (SAMB.)

4.1 Asas Perakaunan (Samb.)

Penyediaan Penyata Kewangan yang mematuhi Financial Reporting standards (FRS) memerlukan penggunaanperakaunanyangkritikaldanandaianyangakanmemberikesankepadanilaiasetdan liabiliti yangdilaporkan,danliabilitiluarjangkapadatarikhpenyatakewangandanamaunpendapatandanperbelanjaanyangdilaporkansepanjang tempoh pelaporan. Walaupun anggaran dan pandangan adalah berdasarkan pengetahuan terbaikPengarah terhadap peristiwa sepanjang pendedahan aset dan tindakan semasa, namun demikian keputusansebenarmungkin berbeza.

Bidangyangmemerlukantahappenilaianyangtinggidankompleksataubidangdimanaandaiandananggaranadalah signifikan kepadaPenyataKewangan adalah seperti didedahkan dinota 5.

a. Piawaian, Pindaan Dan Terjemahan Kepada Piawaian Perakaunan Baru Yang Diterima Pakai

Pada tahun semasa, Kumpulan danKWSP telahmenerima pakai PiawaianPerakaunan FRS, Pindaan danTerjemahan kepada piawaian perakaunan yang mula berkuat kuasa mulai atau selepas 01 Januari 2011sebagaimana berikut:

– Revised FRs 1 First-time adoption of Financial Reporting standards– Revised FRs 3 Business Combinations– Revised FRs 127 Consolidated and separate Financial statementsamendments to FRs 1 First-time adoption of Financial Reporting standardsamendments to FRs 2 share-Based Payment–Group Cash-settled share-Based Payment transactionsamendments to FRs 7 Financial instruments: Disclosures–improving Disclosures about Financial instrumentsamendments to FRs 132 Financial instruments: Presentation–Classification of Right issues– iC interpretation 4 Determine Whether an arrangement Contains a Lease– iC interpretation 12 service Concession arrangements– iC interpretation 16 Hedge of a net investment in a Foreign operation– iC interpretation 17 Distributions of non-cash assets to owners– iC interpretation 18 transfers of assets From Customersamendments to iC interpretation 9 Reassessment of embedded Derivatives– improvements to FRss (2010)

PematuhankepadaPiawaian,PindaandanTerjemahankepadapiawaianperakaunandiatastidakmemberisebarang kesan kewangan ketara kepadaKumpulan danKWSP.

b. Piawaian, Pindaan Dan Terjemahan Kepada Piawaian Sedia Ada Tetapi Belum Berkuat kuasa

Pada tarikhpenyediaanPenyataKewangan,PiawaiandanTerjemahanFRSyangbarusepertiberikut telahdikeluarkan tetapi belumdikuatkuasakan dan belumditerima pakai olehKumpulan danKWSP:

i. Berkuat kuasa mulai atau selepas 01 Januari 2012– mFRs 139 Financial instruments: Recognition and measurement (berkuat kuasamulai 01 Januari 2012)– mFRs 124 Related Party Disclosures (berkuat kuasamulai 01 Januari 2012)– amendment to mFRs 112 income taxes (berkuat kuasamulai 01 Januari 2012)– iC interpretation 15 agreements For Construction of Real estates (berkuat kuasamulai 01 Januari 2012)– iC interpretation 19 extinguishing Financial Liabilities With equity instruments (berkuat kuasa mulai 01 Julai 2011)– amendments to iC interpretation 14 mFRs 119–the Limit on a Defined Benefit assets, minimum Funding Requirements and their interaction (berkuat kuasamulai 01 Julai 2011)




4.1 Asas Perakaunan (Samb.)

b. Piawaian, Pindaan Dan Terjemahan Kepada Piawaian Sedia Ada Tetapi Belum Berkuat kuasa (Samb.)

ii. Berkuat kuasa mulai atau selepas 01 Januari 2013

– mFRs 9 Financial instruments–Classification and measurement of Financial assets and Financial Liabilities (berkuat kuasamulai 01 Januari 2013)– mFRs 10 Consolidated Financial statements (berkuat kuasamulai 01 Januari 2013)– mFRs 11 Joint arrangements (berkuat kuasamulai 01 Januari 2013)– mFRs 12 Di sclosures of interest in other entities (berkuat kuasamulai

01 Januari 2013)– mFRs 13 Fair Value measurement (berkuat kuasamulai 01 Januari 2013)– Revised mFRs 127 separate Financial statements (berkuat kuasamulai 01 Januari 2013)– Revised mFRs 128 in vestments in associates and Joint Ventures (berkuat kuasamulai

01 Januari 2013)amendments to mFRs 1 severe Hyperinflation and Removal of Fixed Dates For First-time adopters (berkuat kuasamulai 01 Januari 2012)amendments to mFRs 7 Financial instruments: Disclosures on transfers of Financial assets (berkuat kuasamulai 01 Januari 2012)amendments to mFRs 101 Presentation of items of other Comprehensive income (berkuat kuasamulai 01 Julai 2012)amendments to mFRs 119 employee Benefits (berkuat kuasamulai 01 Januari 2013)

Pada tahun kewangan berikutnya, Kumpulan dan KWSP akan menerima pakai rangka kerja pematuhanIFRSbaru iaituMalaysianFinancialReportingStandard (MFRS).Bagi tujuanpematuhan ini,MFRS1–First–time adoption of mFRs akan diterima pakai.

4.2 Asas Penyatuan

Penyata Kewangan Kumpulan mengandungi Penyata Kewangan KWSP dan syarikat subsidiari yang disediakansehinggaakhir tahunkewangan.Semuaurusniagadanbakiantarasyarikat telahdihapuskandalampenyatuan.Penyediaan Penyata Kewangan Kumpulan KWSP adalah untukmematuhi kehendak Pekeliling PerbendaharaanBil.4,Tahun2007.LembagasebagaipemegangamanahdanpengurusKumpulanWangSimpananPekerja tidakmempunyai sebarang aset dan liabiliti dan segala perbelanjaan operasi dicajkan kepada hasil KumpulanWang.

4.3 Muhibah

Muhibah yang timbul dari penyatuan merupakan kelebihan harga pembelian dari nilai harga bersih syarikatsubsidiariyangberkenaanpadatarikhpembelian.Muhibahdinyatakanpadakos,ditolakrugiterjejasterkumpul.Rugi terjejas atas Muhibah tidak boleh dicatat semula. Polisi berhubung pengiktirafan dan pengukuran rugiterjejas adalah seperti dinyatakan dinota 4.12.

4.4 Pelaburan Dalam Syarikat Subsidiari

Syarikat subsidiari adalah sebuah syarikat di mana KWSP menguasai komposisi Lembaga Pengarah ataumempunyai lebih dari setengah kuasamengundi, ataumemegang lebih dari separuhmodal sahambiasa yangditerbitkan oleh syarikat tersebut.

Kewujudan dan kesan instrumen yang mempunyai potensi hak mengundi, yang boleh digunakan dan ditukarkanpada tarikh semasadiambil kiradalammenentukan samaadaKumpulanmempunyai kawalankeatas entiti lain.




4.4 Pelaburan Dalam Syarikat Subsidiari (Samb.)

Pelaburantersiarhargadantidaktersiarhargadidalamsyarikatsubsidiaridinyatakanpadakosdandiselaraskannilainya kepada nilai boleh diperoleh yangmengambil kira rugi terjejas dalam tahun berkaitan, jika ada. Polisiberhubung pengiktirafan dan pengukuran rugi terjejas adalah seperti yang dinyatakan dinota 4.12.

Kumpulan telahmengambil kesempatan atas pengecualian yang disediakan olehFRS 3 (Business Combination)bagi menerima pakai piawaian tersebut secara prospektif. Sehubungan dengan itu, pelaburan dalam syarikatsubsidiari sebelum tarikh piawaian berkenaan dikuatkuasakan, tidak dinyatakan semula bagi mematuhipiawaian ini.

Kaedahperakaunanpembelian digunakanbagi perakaunanpenyatuan syarikat subsidiari.Berdasarkan kaedahini, syarikat subsidiari disatukan mulai dari tarikh kawalan dipindahkan kepada Kumpulan dan penyatuandihentikanmulai dari tarikh kawalan berakhir. Kos pengambilalihan diukur pada nilai saksama aset-aset yangdiberikan, instrumen ekuiti yang diterbitkan dan liabiliti yang ditanggung atau yang diambil alih pada tarikhurus niaga, dicampur kos yang berkaitan secara terus semasa pengambilalihan.

Asetdanliabilitiyangdikenalpastibagitujuanpengambilalihansertaliabiliti luarjangkayangperluditanggungpada penyatuan perniagaan pada awalnya diukur mengikut nilai saksama pada tarikh pengambilalihan, tanpamengambilkiraKepentinganTakKawal.Lebihankospengambilalihandannilaisaksamaatasasetbersihyangdikenal pasti atas Kumpulan semasa tarikh pengambilalihan dinyatakan sebagai Muhibah seperti di nota 4.3.Sekiranyakospengambilalihankurangdarinilaisaksamaatasasetbersihsyarikatsubsidiariyangdiambilalih,perbezaan itu akan diiktiraf terus di Penyata Pendapatan.

Kepentingan Tak Kawal merupakan bahagian minoriti terhadap untung atau rugi dan aset bersih syarikatsubsidiari bagi ekuiti yang tidak dipunyai secara langsung atau tidak langsung oleh entiti induk.

Kepentingan Tak Kawal diukur pada bahagian minoriti terhadap nilai saksama aset dan liabiliti syarikatsubsidiari yang telah dikenal pasti pada tarikh pengambilalihan dan bahagianminoriti terhadap perubahan keatas ekuiti syarikat subsidiarimulai dari tarikh tersebut.

UrusniagadalamKumpulan, baki danuntung tidaknyata atasurusniagadi antara syarikatKumpulan adalahdihapuskan. Begitu juga rugi tidak nyata dihapuskan tetapi dianggap sebagai petunjuk penjejasan aset yangdipindahkan.

Untung atau rugi atas pelupusan syarikat subsidiari adalah perbezaan di antara bayaran bersih yang diterimadan bahagian bagi Kumpulan atas aset bersih syarikat subsidiari pada tarikh pelupusan termasuk amaunterkumpul atas perbezaanpertukaranmatawangasing yangberkaitandengan syarikat subsidiari dandiiktirafdi Penyata PendapatanDisatukan.

4.5 Pelaburan Dalam Syarikat Bersekutu

Syarikat bersekutu adalah syarikat di mana KWSP memegang kepentingan ekuiti jangka panjang di antara 20%hingga50%danmempunyaipengaruhpentingdalammembuatkeputusanmengenaipolisi kewangandanoperasi.

Pengaruh signifikan adalah kuasa untuk terlibat dalam membuat keputusan polisi kewangan dan operasisyarikat bersekutu tetapi bukan untukmelaksanakan kawalan atas polisi tersebut.

Kewujudandan kesan instrumen yangmempunyai potensi hakmengundi, yang boleh digunakan atau ditukarkanpadatarikhsemasadiambilkiradalammenentukansamaadaKumpulanmempunyaipengaruhsignifikankeatasentiti lain.




4.5 Pelaburan Dalam Syarikat Bersekutu (Samb.)

Kaedah perakaunan ekuiti digunakan bagi perakaunan pelaburan dalam syarikat bersekutu pada mulanyadinyatakan pada kos. Pelaburan dalam syarikat bersekutu oleh Kumpulan adalah termasuk Muhibah yangdikenal pasti semasa tarikh pengambilalihan selepas ditolak rugi terjejas terkumpul atasMuhibah.

BahagianKumpulan ke atas keuntungan atau kerugian syarikat bersekutu selepas pengambilalihan diiktiraf diPenyata Pendapatan dan kepentingan Kumpulan dalam syarikat bersekutu dinyatakan pada kos besertapelarasan untukmenunjukkan perubahan ke atas bahagian aset bersihKumpulan syarikat bersekutu.

Pelaburan tersiar harga dan tidak tersiar harga di dalam syarikat bersekutu dinyatakan pada kos dandiselaraskannilainyakepadanilaibolehdiperolehyangmengambilkirarugi terjejasdalamtahunberkaitan, jikaada. Polisi berhubung pengiktirafan dan pengukuran rugi terjejas adalah seperti yang dinyatakan dinota 4.12.

4.6 Kepentingan Dalam Usaha Sama

Kepentingan Dalam Usaha Sama adalah mewakili amaun pendahuluan di bawah perjanjian kontrak denganrakan usaha sama untuk akujanji melaksanakan projek pembinaan dan pembangunan harta tanah secarakawalan bersama.

Kaedah ekuiti digunakan bagi perakaunan Kepentingan Dalam Usaha Sama. Perakaunan bagi kerja kontrakdalam usaha sama adalah berdasarkan peratusan kerja kontrak yang siap dan sebarang kerugian yang bolehdijangka, jika ada, akan diperuntukkan dalam tahun semasa apabila ia berbangkit.

Kepentingan Dalam Usaha Sama dinyatakan pada kos dan diselaraskan nilainya kepada nilai boleh diperolehyang mengambil kira rugi terjejas dalam tahun berkaitan, jika ada. Polisi berhubung pengiktirafan danpengukuran rugi terjejas adalah seperti yang dinyatakan dinota 4.12.

4.7 Aset Kewangan Pelaburan

KWSPmengkelaskan aset kewangan pelaburannya berdasarkan FRS 139 sebagaimana berikut:

i. Aset PelaburanDipegang SehinggaMatang;

ii. Aset Kewangan SediaDijual;

iii. PinjamanDanPenghutang; dan

iv. Aset KewanganPadanilai SaksamaMelalui PenyataUntung/Rugi.

Pengkelasan aset kewangan berdasarkan FRS 139 adalah bergantung kepada tujuan aset kewangan berkaitandilabur oleh KWSP. KWSP menentukan pengkelasan aset kewangan pada waktu pembelian dibuat. Selaindaripadaaset kewanganpelaburandari kategoriPinjaman,PendahuluanDanPembiayaandanDepositDenganInstitusiKewanganyangditunjukkansecaraberasingandalamPenyataKedudukanKewangan,polisiperakaunanKWSP bagi aset kewangan pelaburan adalah sebagaimana berikut:




4.7 Aset Kewangan Pelaburan (Samb.)

a. Aset Pelaburan Dipegang Sehingga Matang

AsetPelaburanDipegangSehinggaMatang adalah aset kewanganbukanderivatif yangmempunyai jadualbayaran yang telah ditetapkan atau ditentukan serta mempunyai tempoh kematangan yang juga telahditetapkandimanaKWSPmempunyai hasrat positif sertakeupayaanuntukmemegangaset pelaburan inisehinggamatang. Seandainya KWSPmenjual instrumen Aset Pelaburan Dipegang SehinggaMatang padakuantum yangmelebih daripada amaun yang tidak signifikan,maka keseluruhan portfolio aset kewanganini dikira sebagai tercemar dan perlu dikelaskan sebagai Aset Kewangan SediaDijual.

Instrumen pelaburan KWSP yang dikelaskan sebagai Aset Pelaburan Dipegang Sehingga Matang adalahSekuriti KerajaanMalaysia, TerbitanPelaburanKerajaan, Bon dan Sekuriti HutangPersendirian.

b. Aset Kewangan Sedia Dijual

AsetKewanganSediaDijual adalah aset kewanganbukanderivatif dimanaKWSPmempunyai hasrat untukmengkelaskaninstrumenpelaburandibawahkelasasetkewanganinisewaktupembeliandibuatyangmanaaset kewangan tersebut tidak dikelaskandi bawah lain-lain kelas aset kewangandi bawahFRS139.

Instrumen pelaburan KWSP yang dikelaskan sebagai Aset Kewangan Sedia Dijual adalah instrumenpelaburan Ekuiti domestik dan global yang merangkumi Ekuiti Tersiar Harga dan Ekuiti Tidak TersiarHarga sama ada diuruskan secara dalaman ataupun melalui Pengurus Dana Luar serta InstrumenPelaburanBerpendapatan Tetap domestik dan global yang diuruskan olehPengurusDana Luar.

c. Aset Kewangan Pada Nilai Saksama Melalui Penyata Untung/Rugi

Aset Kewangan Pada nilai Saksama Melalui Penyata Untung/Rugi adalah aset kewangan yang dipeganguntuk tujuandagangan.Asetkewangandikelaskandalamkategori ini jika iadibeli untuk tujuandaganganataudibelisemuladalamjangkamasayangpendek.Asetkewanganderivatif jugadikelaskansebagaiAsetKewangan Pada nilai Saksama Melalui Penyata Untung/Rugi kecuali hasrat sewaktu pembelian adalahuntuk tujuan lindung nilai.

InstrumenpelaburanKWSPyangdikelaskansebagaiAsetKewanganPadanilaiSaksamaMelaluiPenyataUntung/Rugi adalah Instrumen Pelaburan Berpendapatan Tetap yang dikategorikan sebagai portfoliodagangan serta instrumen derivatif sama ada yang dibeli secara terus ataupun yang terangkum dalamkontrak yang dimeterai olehKWSP setakat PenyataKedudukanKewangan.

Pengiktirafan dan penilaian awal aset kewangan adalah sebagaimana berikut:

i. Pembeliandanpenjualanasetkewangandiiktirafpada tarikhurusniaga iaitu tarikhdimanaKWSPkomituntukmembeli ataumenjual aset kewangan berkaitan.

ii. Pengiktirafan awal aset kewangan adalah pada nilai saksama termasuk kos transaksi yang berkaitan.





Penilaian berikutnya ke atas aset kewangan (selain daripada aset kewangan Pinjaman, Pendahuluan DanPembiayaan yang dinyatakan secara berasingan dalamnota 4.8) adalah sebagaimana berikut:

i. Aset Pelaburan Dipegang Sehingga Matang

Dinyatakan pada kos terlunasmenggunakan kaedah pulangan berkesan.

ii. Aset Kewangan Sedia Dijual

Dinyatakan pada nilai saksama. Perubahan dalam nilai saksama termasuk perubahan dalam kadarpertukaranmatawang asing bagi instrumen pelaburan global diiktiraf dalamRizabAsetKewanganSediaDijual kecuali bagi transaksi rugi terjejas.

iii. Aset Kewangan Pada Nilai Saksama Melalui Penyata Untung/Rugi

Dinyatakan pada nilai saksama. Perubahan dalam nilai saksama termasuk perubahan dalam kadarpertukaranmata wang asing bagi instrumen pelaburan global diiktiraf dalam Penyata Pendapatan dalamtempoh dimana perubahan berlaku.

Polisi perakaunan berkaitan pengiktirafan rugi terjejas ke atas aset kewangan sewaktu penilaian berikutnyadilaksanakan adalah sebagaimana berikut:

i. Aset Pelaburan Dipegang Sehingga Matang

KWSP membuat semakan sama ada terdapat bukti objektif bahawa Aset Pelaburan Dipegang SehinggaMatang telah terjejas secara berkala. Aset kewangan ini dianggap terjejas apabila terdapat bukti objektifhasil daripada beberapa petunjuk yang berlaku selepas penilaian awal ke atas aset kewangan berkaitandibuatyangmemberiimplikasikepadajangkaanalirantunaiyangakanditerimadimasahadapandaripadaaset kewangan tersebut yang boleh dianggarkan denganmunasabah.

KriteriayangdigunakanolehKWSPuntukmenentukansamaadabuktiobjektifterhadaprugiterjejastelahberlaku bagi Aset PelaburanDipegang SehinggaMatang termasuk petunjuk-petunjuk berikut:

a. PenurunankadarangredpelaburandibawahgredpelaburanyangditetapkanolehKWSPpada tarikhPenyataKedudukanKewangan;

b. Kegagalanmembayar amaun pokok/faedah berdasarkan tempoh yang dipersetujui;

c. Penamatan operasi perniagaan/muflis (bagi kes yang telah difailkan);

d. Menerima perintah penggulungan operasi perniagaan;

e. Syarikat dimanaKWSPmelabur diklasifikasi sebagai Pn17;

f. Beritamengenai kes fraud signifikan yang disiarkan/pelantikan penasihat kewangan; dan

g. Syarikat dimanaKWSPmelaburmenerimaSijil Audit Bersyarat.





i. Aset Pelaburan Dipegang Sehingga Matang (Samb.)

Amaun rugi terjejas dikira sebagai perbezaan di antara nilai dibawa Aset Pelaburan Dipegang SehinggaMatang dengan nilai semasa anggaran aliran tunai yang akan diterima di masa hadapan daripada asetkewangan tersebut yang didiskaunkan menggunakan kadar pulangan berkesan asal aset kewangantersebut.nilai dibawaAsetPelaburanDipegangSehinggaMatang akanmenurun dan amaun rugi terjejasakan diiktiraf dalamPenyata Pendapatan.

Seandainya sewaktu penilaian semula dibuat pada tempoh berikutnya mendapati bahawa amaun rugiterjejas telah menurun di mana penurunan ini boleh dihubungkait dengan bukti objektif selepas rugiterjejas telah diiktiraf,maka pembalikan rugi terjejas diiktiraf dalamPenyata Pendapatan.

ApabilaAsetPelaburanDipegangSehinggaMatangtidakdapatdikutip, iaakandihapuskiramelaluiakaunelaun rugi terjejas.Tindakanhapuskirahanyadilaksanakanapabilasemuaprosedur yangberkaitan telahselesai serta amaun kerugian telah dikenalpasti.

ii. Aset Kewangan Sedia Dijual

KWSP membuat semakan sama ada terdapat bukti objektif bahawa Aset Kewangan Sedia Dijual telahterjejas secara berkala. Kaedah semakan yang digunakan oleh KWSP adalah bergantung kepada jenisinstrumen pelaburan yang dikelaskan sebagai Aset Kewangan SediaDijual seperti berikut:

a. Instrumen Pelaburan Ekuiti

Rugiterjejasdiiktirafapabilaberlakupenurunannilaisaksamayangsignifikanatausecaraberterusanjika dibandingkan dengan kos asal pada tarikh Penyata Kedudukan Kewangan. Jika berlaku buktiobjektif mengenai petunjuk ini, jumlah kerugian tidak nyata terkumpul yang telah diiktiraf dalamRizab Aset Kewangan Sedia Dijual sebelum ini dikeluarkan dan rugi terjejas diiktiraf dalam PenyataPendapatan.AmaunrugiterjejasyangdiiktirafdalamPenyataPendapatanadalahperbezaandiantarakospembeliandengannilai saksamasemasa tolakdengan jumlah rugi terjejas yang telahdiiktirafdidalam Penyata Pendapatan sebelum ini. Sebarang rugi terjejas yang pernah diiktiraf dalam PenyataPendapatan tempoh terdahulu bagi instrumen pelaburan ekuiti yang dikelaskan sebagai AsetKewangan SediaDijual tidak dicatat semula dalamPenyata Pendapatan tempoh semasa.

b. Instrumen Pelaburan Berpendapatan Tetap Yang Diuruskan Oleh Pengurus Dana Luar

Kaedah semakan rugi terjejas bagi instrumen Pelaburan Berpendapatan Tetap Yang Diuruskan OlehPengurusDanaLuaradalahsamasepertikaedahyangdigunakanbagiasetkewanganyangdikelaskansebagai Aset Pelaburan Dipegang Sehingga Matang. Kriteria yang konsisten turut digunakan olehKWSPuntukmenentukansamaadabuktiobjektif terhadaprugi terjejas telahberlakubagi instrumenPelaburan Berpendapatan Tetap Yang Diuruskan Oleh Pengurus Dana Luar yang dikelaskan sebagaiAset Kewangan SediaDijual sebagaimana petunjuk-petunjuk berikut:

• Penurunan kadaran gred pelaburan di bawah gred pelaburan yang ditetapkan oleh KWSP padatarikhPenyataKedudukanKewangan;

• Kegagalanmembayar amaun pokok/faedah berdasarkan tempoh yang dipersetujui;

• Penamatan operasi perniagaan/muflis (bagi kes yang telah difailkan);

• Menerima perintah penggulungan operasi perniagaan;

• Syarikat dimanaKWSPmelabur diklasifikasi sebagai Pn17;

• Beritamengenai kes fraud signifikan yang disiarkan/pelantikan penasihat kewangan; dan

• Syarikat dimanaKWSPmelaburmenerimaSijil Audit Bersyarat.





ii. Aset Kewangan Sedia Dijual (Samb.)

b. Instrumen Pelaburan Berpendapatan Tetap Yang Diuruskan Oleh Pengurus Dana Luar

Amaun rugi terjejas bagi aset kewangan Pelaburan Berpendapatan Tetap Yang Diuruskan OlehPengurus Dana Luar yang dikelaskan sebagai Aset Kewangan Sedia Dijual dikira sebagai perbezaandiantaranilaidibawapadatarikhPenyataKedudukanKewangandengannilaisemasaanggaranalirantunai yang akan diterima di masa hadapan daripada aset kewangan tersebut yang didiskaunkanmenggunakankadarpulanganberkesanasalasetkewangantersebut.nilaidibawaasetkewangan iniakan menurun dan amaun rugi terjejas akan diiktiraf dalam Penyata Pendapatan. Jika sewaktupenilaian semula dibuat pada tempoh berikutnya mendapati bahawa amaun rugi terjejas telahmenurun dimana penurunan ini boleh dihubungkait dengan bukti objektif selepas rugi terjejas telahdiiktiraf,maka pembalikan rugi terjejas diiktiraf dalamPenyata Pendapatan.

4.8 Pinjaman, Pendahuluan Dan Pembiayaan

Instrumen Pinjaman, Pendahuluan Dan Pembiayaan adalah aset kewangan bukan derivatif yang dikelaskansebagaiPinjamanDanPenghutangdibawahFRS139danmempunyaijadualbayaranyangtelahditetapkanatauditentukan di mana aset kewangan ini tidak disenaraikan dalam pasaran aktif. Aset kewangan Pinjaman,Pendahuluan Dan Pembiayaan diiktiraf pada tarikh urus niaga dimana KWSP komit untukmemberi pinjamantermasuk kos transaksi yang berkaitan jika ada. Penilaian berikutnya bagi aset kewangan ini adalah pada kosterlunasmenggunakan kaedah pulangan berkesan.

Kumpulan dan KWSP membuat semakan sama ada terdapat bukti objektif bahawa aset kewangan Pinjaman,Pendahuluan Dan Pembiayaan telah terjejas secara berkala. Aset kewangan ini dianggap terjejas apabilaterdapat bukti objektif hasil daripada beberapa petunjuk yang berlaku selepas penilaian awal ke atas asetkewangan berkaitan dibuat yangmemberi implikasi kepada jangkaan aliran tunai yang akan diterima dimasahadapan daripada aset kewangan tersebut yang boleh dianggarkan denganmunasabah.

Kriteria yang digunakan oleh KWSP untuk menentukan sama ada bukti objektif terhadap rugi terjejas telahberlaku bagi Pinjaman, PendahuluanDanPembiayaan termasuk petunjuk-petunjuk berikut:

i. Penurunan kadaran gred pelaburan di bawah gred pelaburan yang ditetapkan oleh KWSP pada tarikhPenyataKedudukanKewangan;

ii. Kegagalanmembayar amaun pokok/faedah berdasarkan tempoh yang dipersetujui;

iii. Penamatan operasi perniagaan peminjam/muflis (bagi kes yang telah difailkan);

iv. Peminjammenerima perintah penggulungan operasi perniagaan;

v. Beritamengenai kes fraud signifikan yang disiarkan/pelantikan penasihat kewangan; dan

vi. Syarikat peminjammenerimaSijil Audit Bersyarat.

Amaun rugi terjejas dikira sebagai perbezaan di antara nilai dibawa Pinjaman, Pendahuluan Dan Pembiayaandengan nilai semasa anggaran aliran tunai yang akan diterima di masa hadapan daripada aset kewangantersebutyangdidiskaunkanmenggunakankadarpulanganberkesanasalasetkewangan tersebut.nilaidibawaPinjaman, Pendahuluan Dan Pembiayaan akan menurun melalui penggunaan akaun elaun dan amaun rugiterjejas akan diiktiraf dalamPenyata Pendapatan.

Seandainya sewaktu penilaian semula dibuat pada tempoh berikutnya mendapati bahawa amaun rugi terjejastelah menurun di mana penurunan ini boleh dihubungkait dengan bukti objektif selepas rugi terjejas telahdiiktiraf,maka pembalikan rugi terjejas diiktiraf dalamPenyata Pendapatan.




4.8 Pinjaman, Pendahuluan Dan Pembiayaan

ApabilaPinjaman,PendahuluanDanPembiayaan tidakdapatdikutip, iaakandihapuskiramelalui akaunelaunrugi terjejas. Tindakan hapus kira hanya dilaksanakan apabila semua prosedur yang berkaitan telah selesaiserta amaun kerugian telah dikenalpasti.

Termasuk dalam Pinjaman, Pendahuluan Dan Pembiayaan adalah aset kewangan Pinjaman Staf. Tiada kesansignifikan untukmencatat aset kewangan Pinjaman Staf pada nilai saksama bagi tujuan penilaian berikutnya.Terdapat tiga jenis skimpinjaman yangditawarkankepada stafKWSPpadakadar faedah yangdiluluskanolehLembaga berdasarkan terma dan syarat perkhidmatan sebagaimana berikut:

i. SkimPinjamanPerumahan;

ii. SkimPinjamanKenderaan; dan

iii. SkimPinjamanPeribadi.

Dana yang digunakan untuk membiayai pinjaman kepada staf untuk tiga skim di atas adalah dikira sebagaipelaburanKWSPdimana tahap penggunaan alokasi danamasih tertakluk kepada had amaun yang diluluskanoleh Lembaga.

4.9 Pengiktirafan Hasil

Hasil adalah nilai saksama pertimbangan yang diterima atau akan diterima bagi penjualan aset atauperkhidmatan dalam aktiviti urus niaga biasa Kumpulan. Hasil dinyatakan sebagai nilai bersih selepas cukai,pengembalian, rebat dan diskaun dan selepasmenyingkirkan jualan sesamaKumpulan.

KWSP mengiktiraf hasil apabila amaun hasil boleh diukur secara munasabah, faedah ekonomi masa depanberkemungkinan mengalir masuk ke entiti dan kriteria tertentu telah dipenuhi bagi setiap aktiviti Kumpulanseperti yang dijelaskan di bawah.

Amaun hasil tidak dianggap boleh diukur secaramunasabahmelainkan semua perkara luar jangkamengenaipenjualantelahdiselesaikan.Kumpulanmembuatanggaranberasaskanperistiwaterdahuludenganmengambilkira jenis pelanggan, jenis urus niaga dan spesifikasi bagi setiap urusan.

i. Pengiktirafan Pendapatan Pelaburan Dividen dari Aset Kewangan Sedia Dijual, faedah dari Aset Pelaburan Dipegang SehinggaMatang, faedah

dari Pinjaman, Pendahuluan Dan Pembiayaan, faedah dari Deposit Dengan Institusi Kewangan sertaPendapatan Sewa diambil kira atas dasar terakru.

ii. Pengiktirafan Faedah Atas Pemberian Pinjaman Dan Pembiayaan (MBSB) PendapatanfaedahdanpendapatandaripadaperniagaanSkimPerbankanIslamadalahdiiktirafatasdasar

akruan. Apabila sesuatu akaun diklasifikasi sebagai tidak berbayar, faedah akan digantung dan pelarasansecararetrospektifakandibuatkepada tarikhpertamaberlaku tunggakansehingga iaditerimaatasdasartunai. Akaun pelanggan diklasifikasi sebagai tidak berbayar dimana pembayaran balik adalah tertunggakselama enambulan atau lebih.

Yuran atas pengaturan pinjaman dan komisen diiktiraf sebagai pendapatan atas dasar pengaturankontrak.

iii. Pengiktirafan Pendapatan Atas Penjualan Harta Tanah (MBSB) Pendapatan daripada penjualan harta tanah diiktiraf atas kaedah kadar peratusan siap sebagaimana yang

dinyatakan di nota 4.17. Yuran komitmen diiktiraf sebagai pendapatan berdasarkan jangka masa yangdiagihkan. Pendapatan daripada pengurusan projek diiktiraf pada dan apabila perkhidmatan diberi.




4.9 Pengiktirafan Hasil (Samb.)

iv. Faedah Dan Dividen Atas Caruman Lewat Bayar

FaedahDanDividenAtasCaruman LewatBayar diakaunkan atas terimaan tunai.

v. Faedah Atas Pinjaman, Pendahuluan Dan Pembiayaan (MBSB)

Bagi pembiayaan akhir, faedah belum diterima dikira atas kadar tahunan dan bulanan. Bagi kadartahunan, faedah yang didebitkan kepada akaun pinjaman dalam sesuatu tahun, berasaskan kepada bakipada 31 Disember tahun yang terdahulu dan bagi pinjaman yang dikeluarkan sepanjang tahun itu,dikenakan faedah mulai dari hari pinjaman dikeluarkan sehingga akhir tahun kewangan di manapengeluaran pinjaman tersebut dibuat. Untuk kadar bulanan, faedah yang didebitkan kepada akaunpinjamandalamsesuatu bulan, berasaskan kepada baki pada akhir bulan yang lepas dan bagi pinjamanyang dikeluarkan pada sesuatu bulan itu, dikenakan faedah mulai dari hari yang berikutan dari tarikhpinjaman dikeluarkan sehingga akhir bulan dimana pengeluaran pinjaman tersebut dibuat.

Bagi pinjaman penyambung dan pinjaman berjangka, faedah belum diterima dikira atas kadar bulanan,iaitufaedahyangdidebitkankepadaakaunpinjamanpenyambungdanpinjamanberjangkadalamsesuatubulan,berasaskankepadabakidiakhirbulanyanglepasdansebarangpinjamanyangdikeluarkandalambulan tersebut, faedah dikira dari hari pinjaman dikeluarkan sehingga akhir bulan tersebut di manapengeluaran pinjaman dibuat.

vi. Pelunasan Diskaun/Premium Atas Aset Kewangan

Pelunasan diskaun/premium atas aset kewangan instrumen pelaburan berpendapatan tetap diiktirafmengikut kaedah pulangan berkesan.

4.10 Harta Tanah, Loji Dan Peralatan Serta Susut Nilai

Harta Tanah, Loji Dan Peralatan adalah dinyatakan pada kos selepas ditolak susut nilai terkumpul dan rugiterjejas terkumpul. Kos adalah termasuk kos perbelanjaan yang diagihkan secara terus semasa perolehanaset tersebut.Kos selanjutnya akan dimasukkan ke nilai dibawa aset tersebut atau diambil kira sebagai asetyangberasingan, sekiranyabersesuaian,hanyaapabila faedahekonomimasahadapanberkaitandenganasetitu, berkemungkinanmengalir keKumpulan dan kos tersebut boleh diukur denganmunasabah.

nilai dibawa bagi komponen yang diganti akan dilupuskan. Semua pembaikan dan penyelenggaraan dicaj diPenyata Pendapatan bagi tahun kewangan ianya berlaku.

TanahMilikBebas danKerjaDalamPembinaan tidak disusutnilaikan. SemuaHarta Tanah, LojiDanPeralatanlain disusutnilaikanmengikut kaedah garis lurus berdasarkan anggaran usia penggunaan pada kadar berikut:

Bangunan 2%– 3% Loji BangunanDanMesin 10%–20% Ubahsuai Pejabat/Bangunan 10%–20% Perabot, PeralatanDanPemasangan Tetap 20% KenderaanBermotor 20% KelengkapanPejabat 20% PerisianDanPerkakasanKomputer 20%–33%

Perabot, Peralatan Dan Pemasangan Tetap serta Kelengkapan Pejabat bagi kos kurang atau pada RM1,000seunit disusut nilai sepenuhnya pada tahun perolehan.




4.10 Harta Tanah, Loji Dan Peralatan Serta Susut Nilai (Samb.)

Ubahsuai Pejabat/Bangunan pada nilai RM100 ribu dan lebih akan dipermodalkan. Bagi ubahsuai di manakos projek adalah bernilai kurang daripadaRM100 ribu, kos ubahsuai berkenaan dicaj sebagai perbelanjaantahun semasa.

nilai baki bersih dan usia penggunaan aset disemak dan diselaraskan jika bersesuaian pada setiap tarikhPenyata Kedudukan Kewangan. Pada setiap tarikh Penyata Kedudukan Kewangan, Kumpulan perlu menilaisama ada terdapat petunjuk penjejasan. Selain dari itu, penilaian semula ke atas harta tanah yang terdiridaripada tanah dan bangunan juga dibuat setiap lima tahun bagi menilai jika terdapat petunjuk penjejasan.Jika terdapat petunjuk penjejasan, analisa perlu dilakukan bagi menilai sama ada nilai dibawa aset bolehdiperolehi semula dengan sepenuhnya. Rugi Terjejas akan diperuntukkan jika nilai dibawa melebihi nilaidiperolehi seperti dinyatakan dinota 4.12.

Kadar susut nilai bagi pembelian bangunan siap di mana kos tanah dan kos bangunan tidak dapat dikenalpasti semasa perolehan dibuat akanmengikut kadar susut nilai bangunan iaitu 2%.

BagisetiapHartaTanah,LojiDanPeralatanyangdilupuskan,perbezaandiantarahasilpelupusanbersihdannilaidibawadiiktirafdiPenyataPendapatan.Apabilapenggunaanhartaberubahdaridigunakansendirikepadatujuanpelaburan,hartatersebutakandinilaiberdasarkannilaisaksamadandikelaskandibawahHartaTanahPelaburan.

4.11 Harta Tanah Pelaburan

HartaTanahPelaburanterdiridaripadatanahdanbangunanyangdipegangbagimendapatkanpulangansewajangka panjang atau untuk kenaikan modal atau kedua-duanya dan tidak diduduki oleh Kumpulan. HartaTanahPelaburandinyatakanpadakosselepasditolaksusutnilaiterkumpuldanrugiterjejasterkumpul.HartaTanah Pelaburan disusut nilaimengikut kaedah garis lurus untukmenghapuskan kos aset kepada nilai bakibersih sepanjang usia penggunaan di antara 40-50 tahun. Apabila Harta Tanah Pelaburan dilupuskan, atauianya tidak digunakan langsung dan dijangka tiada pulangan masa hadapan daripada pelupusan tersebut,ianya akan disingkirkan daripadaPenyataKedudukanKewangan.

Perbezaan di antara hasil pelupusan bersih dan nilai dibawa akan diiktiraf di Penyata Pendapatan dalamtempoh ianya dilupuskan.

Kadar susut nilai bagi bangunan yang diklasifikasi sebagai Harta Tanah Pelaburan adalah pada kadar 2%-3%sebagaimanadinota 4.10.

4.12 Penjejasan Aset Bukan Kewangan

Aset bukankewangan yang tidakmempunyai usia penggunaanadalah tidak tertaklukkepadapelunasandandinilai untukpenjejasan setiap tahun.Aset bukankewangan yang tertaklukkepadapelunasanakandisemakuntuk penjejasan apabila peristiwa atau berlaku perubahan pada keadaan yang menunjukkan nilai dibawaberkemungkinan tidak akan diperolehi.

Rugi terjejasdiiktirafapabilanilaidibawaasetbukankewanganmelebihinilaidiperolehi.nilaidiperolehiadalahnilai yang lebih tinggi di antaranilai saksamaaset bukankewanganditolak kos jualan ataunilai penggunaan.

Bagi tujuanmenilai penjejasan, aset bukan kewangan dikumpulkan pada tahap terendah dimana aliran tunaibolehdikenalpastisecaraberasingan(unitpenjanatunai).AsetbukankewanganselaindaripadaMuhibahyangmengalami penjejasan disemakuntuk kemungkinan pembalikan penjejasan pada setiap tahun pelaporan.




4.12 Penjejasan Aset Bukan Kewangan (Samb.)

Rugi terjejas akandicaj diPenyataPendapatan.Bagi aset-aset bukankewangan lain, jika terdapat sebarangkenaikan dalam amaun yang akan diperolehi, ianya diiktiraf di Penyata Pendapatan kecuali terdapatpembalikan rugi terjejas atas aset bukan kewangan yang dinilai semula dimana ianya akan diambil kira keAkaun Lebihan Penilaian Semula.

4.13 Perakaunan Untuk Caruman Ahli

Caruman dikreditkan ke akaun ahli mengikut bulan caruman atas dasar terimaan tunai kecuali kespengkreditan berasaskan Invokasi Seksyen 50(3), Akta KWSP, 1991 seperti dinyatakan dinota 4.24.

4.14 Penghutang

AsetkewanganPenghutangadalahdinilaipadaamaun invoissetelahditolakelaunrugi terjejas.Tiadakesansignifikan untukmencatat aset kewangan Penghutang pada nilai saksama bagi tujuan penilaian berikutnya.ElaunrugiterjejasdiperuntukkanapabilaterdapatbuktipositifdimanaKumpulantidakakandapatmengutipsemuaamauntertunggakmengikut termaasalPenghutangsebagaimanapolisi rugi terjejasyangdinyatakandalamnota 4.8.

4.15 Aset Dipegang Untuk Jualan

Aset bukan semasa (atau pelupusan Kumpulan) dikelaskan sebagai Aset Dipegang Untuk Jualan dandinyatakan pada nilai terendah di antara nilai dibawa atau nilai saksama ditolak kos jualan, sekiranya nilaidibawa tersebut akan diperolehimelalui jualan dan bukanmelalui penggunaan berterusan.

4.16 Tanah Dipegang Untuk Pembangunan Harta Tanah

Tanah Dipegang Untuk Pembangunan Harta Tanah terdiri daripada tanah di mana aktiviti pembangunanbelum dijalankan atau di mana aktiviti pembangunan tidak dijangka akan disempurnakan dalam kitaranoperasi yang normal. Tanah sebegini dikelaskan sebagai Aset Bukan Semasa dan dinyatakan pada kosditolak rugi terjejas terkumpul. Polisi berhubung pengiktirafan dan pengukuran rugi terjejas adalah sepertidinyatakan dalamnota 4.12.

4.17 Kos Pembangunan Harta Tanah

Kos Pembangunan Harta Tanah terdiri daripada semua kos langsung yang berkaitan dengan aktivitipembangunan atau yang boleh diagih berdasarkan asas yang munasabah kepada aktiviti yang berkaitan.Apabila keputusan kewangan terhadap aktiviti pembangunan boleh dianggar dengan sempurna, hasil sertaperbelanjaan daripada pembangunan harta tanah diiktiraf di Penyata Pendapatan menggunakan kaedahperatusan siap. Kadar peratusan siap dikira menggunakan peratusan kos pembangunan harta tanah yangtelah ditanggung di atas kerja yang telah dijalankan setakat tarikh berkaitan terhadap jumlah anggaran kospembangunan harta tanah.

Apabila keputusan kewangan terhadap aktiviti pembangunan tidak dapat dianggarkan menggunakan dasaryangmunasabah,hasildaripadapembangunanhartatanahdiiktirafhanyasetakatdimanakospembangunanharta tanah telah ditanggung yang dijangka dapat diperolehi semula dan di mana kos pembangunan hartatanah atas harta tanah yang dijual diiktiraf sebagai perbelanjaan dalam tempoh di mana ia ditanggung.Sebarang kerugian yang dijangka di atas projek pembangunan, termasuk kos yang akan ditanggung disepanjang tempoh kerosakan dibayar, adalah diiktiraf sebagai perbelanjaan dengan serta-merta.




4.17 Kos Pembangunan Harta Tanah (Samb.)

Kos Pembangunan Harta Tanah tidak diiktiraf sebagai perbelanjaan adalah diakaunkan sebagai aset yangdinyatakan pada kos atau nilai realis bersih yang mana terendah. Lebihan hasil yang diiktiraf di PenyataPendapatandaripadabil kepadapembeli adalahdikelaskansebagai bil terakrudalampenghutangdagangandan lebihan daripada bil kepada pembeli berbanding hasil diiktiraf di Penyata Pendapatan dan dikelaskansebagai bil dalam progres dalam pemiutang dagangan.

4.18 Inventori Harta Siap

Inventori Harta Siap dinyatakan pada kos (yang dikira berdasarkan asas khusus yang dikenal pasti) dan nilairealis bersih yangmana lebih rendah. Kos termasuk kos tanah, pembinaan dan belanja pembangunan yangsewajarnya.

4.19 Peruntukan Bagi Manfaat Pekerja

a. Manfaat Jangka Pendek

Upah,gaji,bonus,carumankepadainstitusikeselamatansosialdanbayarangratuitikepadastafkontrakdiiktiraf sebagai perbelanjaan pada tahun dimana perkhidmatan yang berkaitan diberikan oleh pekerjaKumpulan. Pampasan ketidakhadiran terkumpul jangka pendek seperti cuti tahunan berbayar diiktirafapabilaperkhidmatanyangdiberiolehpekerjaakanmenambahkanhakuntukpampasanketidakhadiranakan datang dan pampasan ketidakhadiran tidak terkumpul jangka pendek seperti cuti sakit diiktirafapabila ketidakhadiran berlaku.

b. Pelan Caruman Tetap

Caruman dibuat kepada KWSP bagi pekerja yang memilih faedah KWSP atau Tabung Amanah PencenKerajaan bagi staf yang telah diletakkan di dalam skim pencen.

c. Manfaat Jangka Panjang

KWSP menerima pakai FRS 119 (employee Benefits) yang mana bayaran manfaat staf jangka panjangselepas persaraan dan/atau selepas tamat tempoh perkhidmatan kontrak diiktiraf secara akruan diPenyata Pendapatan tahun semasa sebagai bayaran manfaat pekerja dan di Penyata KedudukanKewangan sebagai liabiliti yang dikenali sebagai PeruntukanBagiManfaat Pekerja. Jenis-jenismanfaatstaf jangka panjang yang akan diiktiraf secara akruan ini adalah sebagaimana berikut:

i. Faedah perubatan pesara; dan

ii. Bayaranaward cuti gantian (termasuk bahagian syer carumanmajikan ke atas amaun bayaran ini).

Pengiraan amaun tanggungan faedah perubatan kepada pesara adalah berdasarkan kaedah penilaianaktuari yang dijalankan pada setiap tiga tahun. Andaian utama yang telah digunakan dalam pengiraankaedah aktuari ini adalah:

i. Kadar inflasi terhadap kos rawatan ialah 5% setahun; dan

ii. Kadar diskaun ialah pada 7% setahun.

nilai terkumpulaktuaribersihuntungataurugimelebihi10%darinilaisemasaObligasiFaedahdiiktirafdi Penyata Pendapatan sepanjang jangkaan baki usia bekerja staf iaitu 17 tahun.

Pengiraan amaun tanggungan bagi bayaran award cuti gantian kepada staf yang bersara adalahberdasarkanangkasebenarpadatarikhPenyataKedudukanKewangansertakelayakanmengikut termadan syarat perkhidmatan. Kadar gaji semasa digunakan untukmengira amaun tanggungan ini.




4.19 Peruntukan Bagi Manfaat Pekerja (Samb.)

d. Manfaat Penamatan

ManfaatPenamatanperludibayarapabilastafmenerimapemberhentiansukarelasebagaigantianuntukmanfaat ini. Kumpulan mengiktiraf Manfaat Penamatan apabila terdapat komitmen ketara untukmenamatkan perkhidmatan staf semasa mengikut pelan rasmi terperinci tanpa kemungkinan menarikkembali pelan tersebut.

e. Manfaat Pemilikan Ekuiti (MBSB)

Skim Pilihan Saham Untuk Staf MBSB (ESOS) membenarkan stafnya (termasuk pengarah eksekutif)selain daripada staf di syarikat subsidiarinya yang berstatus dorman untuk mendapatkan pemilikansahambiasadalamsyarikatsubsidiari tersebut.Tiadakosbayaranatauobligasidiiktiraf.Apabilapilihandilaksanakan, ekuiti bertambahmelalui amaun perolehan yang diterima.

4.20 Peruntukan Bagi Liabiliti

PeruntukanBagiLiabilitidiiktirafapabilasyarikatsubsidiarimempunyaiobligasisemasayangdisebabkanolehperistiwa lalu dan berkemungkinan terdapat aliran keluar sumber-sumber yangmembentuk faedah ekonomidiperlukan untuk menyelesaikan obligasi dan anggaran yang boleh dipercayai jumlahnya boleh dibuat.Peruntukan disemak pada setiap tarikh Penyata Kedudukan Kewangan dan diselaraskan untukmenunjukkananggaran terbaik semasa. Dimana kesan nilaimasa ke ataswang adalah ketara, jumlah peruntukan adalahnilai semasa daripada jangkaan perbelanjaan yang diperlukan untukmenyelesaikan obligasi.

4.21 Cukai

KWSP dikecualikan daripada cukai pendapatan atas pendapatannya di bawah perenggan 20–Jadual 6,Bahagian I, Akta Cukai Pendapatan, 1967.

Cukai pendapatan syarikat subsidiari atas keuntungan atau kerugian untuk tahun semasa adalah terdiridaripadacukai tahunsemasadancukai tertunda.Cukai semasaadalah jumlahcukai yangdijangkadaripadacukai pendapatan perlu dibayar berhubung keuntungan boleh dicukai tahun semasa, dikira berdasarkankadar cukai yang telah berkuat kuasa pada tarikh Penyata KedudukanKewangan.

Cukai tertunda diperuntukkanmenggunakan kaedah liabiliti bagi perbezaan sementara di antara asas-asascukaibagiasetdan liabiliti sertanilaidibawanyapada tarikhPenyataKedudukanKewangan.Padadasarnya,liabiliti cukai tertunda diiktiraf bagi semua perbezaan sementara boleh dicukai dan aset cukai tertundadiiktiraf bagi semua perbezaan sementara boleh ditolak, kerugian cukai tidak diguna dan kredit cukai tidakdiguna sehingga ke tahap di mana keuntungan boleh dicukai berkemungkinan untuk digunakan ke atasperbezaan sementara, kerugian cukai tidak diguna dan kredit cukai tidak diguna.

Cukai tertunda tidak diiktiraf sekiranya perbezaan sementara timbul daripada pengiktirafan awal aset atauliabiliti dalam urus niaga yang bukan merupakan kombinasi perniagaan dan pada masa urus niaga, tidakmenjejaskan sama ada keuntungan perakaunan atau pun keuntungan boleh dicukai.

Cukai tertunda dikira pada kadar cukai yang dijangka akan terpakai dalam tempoh dimana aset direalis atauliabiliti diselesaikan, berdasarkankadar cukai yang telahdigubal ataudigubal sebahagianbesarnyapada tarikhPenyata Kedudukan Kewangan. Cukai tertunda diiktiraf di Penyata Pendapatan kecuali jika ia timbul daripadaurusniagayangdiiktirafsecaralangsungdalamekuitidimanacukaitertundajugadicajataudikreditkansecaralangsungdalamekuiti,atauapabila ia timbuldaripadapenyatuanperniagaanyangmerupakanpengambilalihan,dalamhal yangmana cukai tertundadimasukkandalamMuhibah atauMuhibahnegatif Terhasil.




4.22 Dividen Dikreditkan/Dibayar Kepada Ahli

Dividen tahunan dikira atas baki pembuka pada 01 Januari (selepas ditolak pengeluaran) dan dicampurdividenbulananatascarumanmengikutbulancarumandandikreditkankeakaunahlipadapenutupanakhirtahunkewangan.Dividenpengeluaranadalahdikiradariawalsesuatu tahunpengeluaransehinggake tarikhakaun caruman didebitkan. Caruman dan dividen tahunan minima 2.50% adalah dijamin oleh Kerajaankecuali caruman ahli yang diurus oleh Institusi Pengurus Dana. Pendapatan yang diterima dalam tahunsemasa diagih kepada semua ahli KWSP secaramaksimum selepasmengiktiraf semua perbelanjaan tahunsemasa berlandaskan polisi perakaunanKWSP yang diluluskan oleh Lembaga.

4.23 Pertukaran Mata Wang Asing

a. Mata Wang Fungsian Dan Persembahan

Item dalam Penyata Kewangan setiap Entiti Kumpulan diukur denganmenggunakanmata wang utamadipersekitaranentitimenjalankanurusniaga(matawangfungsian).PenyataKewangandipersembahkandalamRinggitMalaysia, iaitumatawang fungsian dan persembahanKWSP.

b. Urus Niaga Dan Baki

Urusniagadalammatawangasingditukarkankematawang fungsianmenggunakankadarpertukaranketika tarikh urus niaga. Aset dan liabiliti kewangan dalam mata wang asing ditukar mengikut kadarpertukaran pada tarikh Penyata Kedudukan Kewangan. Perbezaan pertukaran yang terhasil daripadapenyelesaian urusniaga mata wang asing dan daripada pertukaran aset dan liabiliti kewangan dalammatawang asing dimasukkan dalamPenyata Pendapatan.

4.24 Rizab Seksyen 50(3)

RizabSeksyen50(3)diwujudkandibawahSeksyen15,AktaKWSP,1991.Rizabinibertujuanuntukmembiayaipelaksanaan Seksyen 50(3), Akta KWSP, 1991 iaitu menghendaki Lembaga untuk membayar caruman syerpekerjabagipotonganyangdibuatatasgajipekerjabersamaamaundividenatascarumantersebutsekiranyamajikangagalmembayarsyercarumanpekerja tersebut.SekiranyaamaunrizabkurangdaripadaRM40 juta,kekurangan tersebut akan dipindahkan daripada lebihan terkumpul atau sebaliknya.

4.25 Rizab Aset Kewangan Sedia Dijual

Rizab Aset Kewangan Sedia Dijual telah diwujudkan untuk mengakaunkan pergerakan perubahan nilaisaksama bagi aset kewangan yang dikelaskan sebagai Aset Kewangan Sedia Dijual. Akaun Rizab AsetKewangan SediaDijual dikreditkan apabila terdapat perubahan positif kepada nilai saksamaAset KewanganSediaDijual.Sebaliknya,akaunrizabinididebitapabilaberlakuperubahannegatifkepadanilaisaksamaAsetKewangan Sedia Dijual atau terdapat transaksi penjualan bagi Aset Kewangan Sedia Dijual. Apabila berlakurugi terjejas ke atas sesuatu item Aset Kewangan Sedia Dijual, keseluruhan baki yang wujud dalam RizabAset Kewangan Sedia Dijual bagi item berkenaan akan dikitar semula di mana rugi terjejas diiktirafsepenuhnya dalamPenyata Pendapatan.

4.26 Aset Dan Liabiliti Luar Jangka

Kumpulan tidakmengiktiraf Liabiliti Luar Jangka, tetapimendedahkan kewujudannya di Penyata Kewangan.Liabiliti Luar Jangka merupakan jangkaan obligasi disebabkan peristiwa lalu dan kewujudannya bolehdisahkan sekiranya berlaku satu atau lebih peristiwa masa hadapan yang tidak pasti dan di luar kawalanKumpulanatauobligasisemasayangtidakdiiktirafkeranaianyatidakdijangkaakanmenyebabkanpengalirankeluar sumber-sumber yang diperlukan bagimenyelesaikan obligasi tersebut.




4.26 Aset Dan Liabiliti Luar Jangka (Samb.)

LiabilitiLuarJangkajugawujudbagikes-kesyangjarangberlakudimanaliabilititidakbolehdiiktirafkeranaianya tidak dapat diukur secaramunasabah.

Aset Luar Jangka merupakan aset disebabkan peristiwa lalu dan kewujudannya akan disahkan, sekiranyaberlaku satu atau lebih peristiwamasa hadapan yang tidak pasti dan di luar kawalan Kumpulan. Kumpulantidak akan mengiktiraf Aset Luar Jangka tetapi mendedahkan kewujudannya apabila pengaliran masukmanfaat ekonomi adalah berkemungkinan tetapi tidak pasti.

4.27 Tunai Dan Kesetaraan Tunai

TunaiDanKesetaraanTunai terdiri daripada tunai di tangan, di bankdandeposit dengan institusi kewanganbertujuan untukmenghadapi keperluan kecairan.

4.28 Aset Tak Ketara

Perbelanjaan yang wujud daripada Lesen Perisian Teknologi Maklumat diukur pada kos pengiktirafan.Selepas pengiktirafan awal, Aset Tak Ketara adalah dibawa pada kos setelah ditolak pelunasan terkumpuldan rugi terjejas terkumpul. Aset Tak Ketara akan dilunaskan berdasarkan asas garis lurus di sepanjanganggaran usia penggunaan ekonomi selama lima tahun dan dinilai untuk penjejasan apabila terdapatpetunjuk bahawa Aset TakKetaramungkin terjejas.

4.29 Pajakan

a. Pajakan–Kumpulan Sebagai Penyewa

Pajakan Operasi

Pajakan harta di mana bahagian yang signifikan ke atas risiko dan ganjaran pemilikan kekal ke atastuan sewa dikelaskan sebagai pajakan operasi. Bayaran yang dibuat di bawah perbelanjaan ini (bersihatassebarang insentif yangditerimadari tuanpajak)dicajkankePenyataPendapatanmengikutkaedahgaris lurus dalam tempoh pajakan.

Bayaran yang telah dibuat ke atas tanah milik pajak dianggap sebagai bayaran sewa pajakan dandilunaskanmengikut kaedah garis lurus dalam tempoh pajakan.

Sekiranya pajakan operasi ditamatkan sebelum tempoh pajakan tamat, sebarang bayaran yangdiperlukankepadatuanpajakdalambentukpenaltiakandiiktirafkansebagaiperbelanjaanpadatempohpenamatan dibuat.

b. Pajakan–Kumpulan Sebagai Tuan Pajak

Pajakan Operasi

Apabila harta dipajak di bawah pajakan operasi, harta tersebut adalah termasuk di PenyataKedudukanKewangan berdasarkan jenis asal harta tersebut. Pendapatan pajakan akan diiktiraf mengikut tempohpajakanmenggunakan kaedah garis lurus.




4.30 Jaminan Keuntungan Tertunda

Pendapatan dari Jaminan Keuntungan ke atas tempat kediaman yang dijual adalah diiktiraf dalammasa 60hari selepas tamat tempoh 12 bulan dari tarikh pelancaran.

Pendapatan dari JaminanKeuntunganke atas tempat kediaman yangdijual atau tidak dijual adalah diiktirafdalammasa 60 hari selepas tamat tempoh 24 bulan dari tarikh pelancaran.

Pendapatan yang diterima dari aktiviti-aktiviti berkenaan yang dijangka diterima selepas tahun kewanganadalah diambilkira sebagai JaminanKeuntungan Tertunda.

4.31 Jaminan Sewa

JaminanSewadinyatakanpadanilai saksamasewaktupengiktirafanasal yang tidak termasuknilai TambahCukai (VAT). Tunai yang diterima dari instrumen ini adalah diperuntukkan kepada aset. nilai saksamaterhadap jaminan sewa ditaksir secara tahunan di mana sebarang pergerakan diiktiraf sebagai kospembiayaan di dalamPenyata Pendapatan.

5. PENILAIAN DAN ANGGARAN PERAKAUNAN KRITIKAL

Kumpulan membuat anggaran dan andaian mengenai masa hadapan. Secara definisi, hasil anggaran perakaunanadalah jarangmenepati hasil sebenar yang berkaitan.

Bagi meningkatkan kandungan maklumat terhadap anggaran, beberapa pemboleh ubah penting yang dijangkamemberikesanmaterialkepadahasilKumpulandankedudukankewangan,diujibagimengesansensitiviti terhadapperubahan pemboleh ubah tersebut.

Anggaran dan andaian yangmempunyai risiko yang signifikan dan bolehmenyebabkan pelarasanmaterial ke atasnilai dibawa aset dan liabiliti bagi tahun kewangan berikutnya adalah seperti di bawah:

5.1 Obligasi Manfaat Perubatan Pesara

nilai semasa ObligasiManfaat Perubatan Pesara bergantung kepada beberapa faktor yang ditentukan sebagaiasasaktuaridenganmenggunakanbeberapaandaian.Andaianadalahdigunakanuntukmenentukankosbersihbagiperubatanpesara,termasukkadardiskaundanjangkaankadarkosperubatan.Sebarangperubahandalamandaian ini akanmemberi kesan ke atas nilai dibawaObligasiManfaat PerubatanPesara.

Kumpulanmenentukankadardiskaunyangsesuaipadasetiaptigatahunapabilapenilaianaktuaridilaksanakan.Penilaian aktuari terkini telah dilaksanakan pada tahun kewangan 2009. Kadar faedah ini digunakan bagimenentukan anggaran semasa bagi jangkaan aliran tunai keluar masa hadapan yang diperlukan bagimenyelesaikanObligasiManfaat PerubatanPesara.

Dalam menentukan kadar diskaun yang bersesuaian, Kumpulan mempertimbangkan kadar faedah bagi BonKorporat berkualiti tinggi dalam mata wang di mana manfaat tersebut akan dibayar dan mempunyai tempohmatang bersamaan tempoh liabiliti berkaitan.

Kadar kos perubatan dikira berdasarkan purata kos perubatan tahun terdahulu yang dibelanjakan olehKWSP.

Sekiranya jangkaankadarkosperubatanberbezasebanyak10%daripada jangkaanPengurusan,nilaidibawabagiObligasiManfaatPerubatanPesara akandianggarkanRM14.17 juta lebih tinggi atauRM12.75 juta lebih rendah.



6. CUKAI TERTUNDA

KUMPULAN

2011 2010(RM’000) (RM’000)

Pada 01 Januari 18,880 17,329Amaun YangDiiktiraf DalamPenyata Pendapatan 5,231 1,551

Pada 31 Disember 24,111 18,880

AmaunBerikutDitunjukkan SelepasPelarasanBerkaitan DalamPenyataKedudukanKewangan: Aset Cukai Tertunda (881) (376) Liabiliti Cukai Tertunda 24,992 19,256

24,111 18,880

KomponendanperubahanAsetCukaiTertundadanLiabilitiCukaiTertundadalamtahunkewangansemasasebelumpelarasan berkaitan adalah seperti berikut:

6.1 ASET/LIABILITI CUKAI

KerugianBelum Guna

Pelarasan Nilai

SaksamaDari

GabunganPerniagaan

Harta Tanah,Loji Dan

Peralatan

Lain-lain Jumlah

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

Pada 01 Januari 2011 (1,152) 23,604 (3,647) 75 18,880Amaun YangDiiktiraf Dalam Penyata Pendapatan 271 – 4,960 – 5,231

Pada 31 Disember 2011 (881) 23,604 1,313 75 24,111

Pada 01 Januari 2010 (1,152) 23,679 (5,273) 75 17,329Amaun YangDiiktiraf Dalam Penyata Pendapatan – (75) 1,626 – 1,551

Pada 31Disember 2010 (1,152) 23,604 (3,647) 75 18,880



7. HARTA TANAH, LOJI DAN PERALATAN

7.1 KUMPULAN

2011KOS

Pada 01 Januari

Tambahan (Jualan)/Pelarasan/

Reklasifikasi

Hapus Kira Pembalikan Rugi Terjejas

Pada 31 Disember

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

TanahMilikBebas 29,318 – (13,494) – – 15,824Bangunan 395,081 21,954 5,415 – – 422,450Loji BangunanDanMesin 34,921 2,689 – – – 37,610Ubahsuai Pejabat/Bangunan 114,251 20,548 (848) – (14) 133,937Perabot, PeralatanDanPemasanganTetap 51,831 3,372 35 (62) – 55,176

KenderaanBermotor 5,635 929 (373) (798) – 5,393KelengkapanPejabat 92,129 1,183 2,728 (349) – 95,691PerisianDanPerkakasanKomputer 161,168 22,265 26,088 (934) – 208,587KerjaDalamPembinaan 85,927 54,024 (80,064) – – 59,887

970,261 126,964 (60,513) (2,143) (14) 1,034,555

2011SUSUT NILAI TERKUMPUL

TanahMilikBebas 371 – – – – 371Bangunan 183,867 10,775 7,277 – (6,484) 195,435Loji BangunanDanMesin 28,910 1,049 – – – 29,959Ubahsuai Pejabat/Bangunan 81,423 11,774 1,080 – – 94,277Perabot, PeralatanDanPemasanganTetap 48,195 1,892 – (62) – 50,025

KenderaanBermotor 3,983 576 (372) (798) – 3,389KelengkapanPejabat 87,232 2,174 – (347) – 89,059PerisianDanPerkakasanKomputer 146,760 19,959 3,859 (934) – 169,644

580,741 48,199 11,844 (2,141) (6,484) 632,159



7. HARTA TANAH, LOJI DAN PERALATAN (SAMB.)

7.1 KUMPULAN (Samb.)

2010KOS

Pada 01 Januari


Reklasifikasi


Pada 31 Disember

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

TanahMilikBebas 26,412 9,968 (7,062) – – 29,318TanahMilik Pajak 29,465 – (29,465) – – –Bangunan 408,522 19,303 (32,015) (729) – 395,081Loji BangunanDanMesin 30,523 4,353 71 (26) – 34,921Ubahsuai Pejabat/Bangunan 87,496 11,862 14,893 – – 114,251Perabot, PeralatanDanPemasanganTetap 50,543 1,596 (77) (231) – 51,831

KenderaanBermotor 5,184 1,139 (76) (612) – 5,635KelengkapanPejabat 90,730 1,065 1,217 (883) – 92,129PerisianDanPerkakasanKomputer 153,953 4,555 3,427 (767) – 161,168KerjaDalamPembinaan 95,734 12,893 (22,700) – – 85,927

978,562 66,734 (71,787) (3,248) – 970,261


TanahMilikBebas 371 – – – – 371TanahMilik Pajak 294 – (294) – – –Bangunan 181,658 10,825 (8,338) (278) – 183,867Loji BangunanDanMesin 28,325 606 2 (23) – 28,910Ubahsuai Pejabat/Bangunan 71,772 10,733 (1,082) – – 81,423Perabot, PeralatanDanPemasanganTetap 46,554 1,922 (50) (231) – 48,195

KenderaanBermotor 4,200 396 (1) (612) – 3,983KelengkapanPejabat 86,058 2,054 – (880) – 87,232PerisianDanPerkakasanKomputer 139,274 8,766 (513) (767) – 146,760

558,506 35,302 (10,276) (2,791) – 580,741




7.2 KWSP

2011KOS

Pada01 Januari


Reklasifikasi

Hapus Kira PembalikanRugi Terjejas

Pada31 Disember

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

Bangunan 241,609 616 – – – 242,225Loji BangunanDanMesin 34,920 2,689 – – – 37,609Ubahsuai Pejabat/Bangunan 95,721 15,387 215 – – 111,323Perabot, PeralatanDanPemasanganTetap 27,709 593 38 (62) – 28,278

KenderaanBermotor 4,776 929 – (798) – 4,907KelengkapanPejabat 91,886 1,085 2,728 (349) – 95,350PerisianDanPerkakasanKomputer 146,922 21,260 26,464 (934) – 193,712KerjaDalamPembinaan 87,441 54,024 (80,064) – – 61,401

730,984 96,583 (50,619) (2,143) – 774,805


Bangunan 97,603 7,144 – – – 104,747Loji BangunanDanMesin 28,910 1,049 – – – 29,959Ubahsuai Pejabat/Bangunan 70,121 9,740 – – – 79,861Perabot, PeralatanDanPemasanganTetap 26,826 656 – (62) – 27,420

KenderaanBermotor 3,326 487 – (798) – 3,015KelengkapanPejabat 87,139 2,130 – (347) – 88,922PerisianDanPerkakasanKomputer 135,474 19,423 4,232 (934) – 158,195

449,399 40,629 4,232 (2,141) – 492,119




7.2 KWSP (Samb.)

2010KOS

Pada 01 Januari


Reklasifikasi


Pada 31 Disember

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

Bangunan 241,460 724 154 (729) – 241,609Loji BangunanDanMesin 30,522 4,353 71 (26) – 34,920Ubahsuai Pejabat/Bangunan 70,684 7,738 17,299 – – 95,721Perabot, PeralatanDanPemasanganTetap 27,337 572 31 (231) – 27,709

KenderaanBermotor 4,400 988 – (612) – 4,776KelengkapanPejabat 90,487 1,065 1,217 (883) – 91,886PerisianDanPerkakasanKomputer 139,666 4,095 3,928 (767) – 146,922KerjaDalamPembinaan 97,248 12,893 (22,700) – – 87,441

701,804 32,428 – (3,248) – 730,984


Bangunan 90,695 7,186 – (278) – 97,603Loji BangunanDanMesin 28,325 606 2 (23) – 28,910Ubahsuai Pejabat/Bangunan 60,977 9,146 (2) – – 70,121Perabot, PeralatanDanPemasanganTetap 26,410 647 – (231) – 26,826

KenderaanBermotor 3,679 259 – (612) – 3,326KelengkapanPejabat 86,001 2,018 – (880) – 87,139PerisianDanPerkakasanKomputer 127,956 8,285 – (767) – 135,474

424,043 28,147 – (2,791) – 449,399




7.3 NILAI BUKU BERSIH

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

TanahMilikBebas 15,453 28,947 – –Bangunan 227,015 211,214 137,478 144,006Loji BangunanDanMesin 7,651 6,011 7,650 6,010Ubahsuai Pejabat/Bangunan 39,660 32,828 31,462 25,600Perabot, PeralatanDanPemasangan Tetap 5,151 3,636 858 883KenderaanBermotor 2,004 1,652 1,892 1,450KelengkapanPejabat 6,632 4,897 6,428 4,747PerisianDanPerkakasanKomputer 38,943 14,408 35,517 11,448KerjaDalamPembinaan 59,887 85,927 61,401 87,441

402,396 389,520 282,686 281,585

8. HARTA TANAH PELABURAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Nilai Buku BersihPada 01 Januari Seperti Dinyatakan Sebelum ini 3,698,854 1,775,813 1,429,496 1,109,567 Reklasifikasi DaripadaHarta Tanah, Loji DanPeralatan – 29,170 – – Reklasifikasi KepadaAsetDipegang Untuk Jualan (3,191) – – – PerbezaanPertukaranMatawangAsing 60,651 – – – PelarasanKos (5,343) (16,351) (5,964) –

AmaunDinyatakan Semula 3,750,971 1,788,632 1,423,532 1,109,567Tambahan 3,406,842 1,995,761 605 352,749KerugianBersih AtasPelarasannilai SaksamaHarta TanahPelaburanGlobal (199,813) (40,828) – –Jualan (15,646) (2,010) (146) (2,010)

Susutnilai Tahun Semasa (49,107) (43,032) (37,219) (31,141)Pelarasan Susutnilai Tahun Semasa – (266) – (266)

(49,107) (43,298) (37,219) (31,407)Pelarasan Susutnilai Terkumpul Atas Jualan – 597 – 597PembalikanRugi TerjejasBersih 11,974 – 11,974 –

Pada 31 Disember 6,905,221 3,698,854 1,398,746 1,429,496



9. ASET TAK KETARA

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Pada 01 Januari 27,585 30,110 25,623 29,199Reklasifikasi KepadaHarta Tanah, Loji DanPeralatan (4,558) – (4,558) –

23,027 30,110 21,065 29,199Tambahan lllll 1,266 11,854 – 10,437Reklasifikasi Susutnilai KepadaHarta Tanah, Loji DanPeralatan 4,232 – 4,232 –Pelunasan Tahun Semasa (15,421) (14,379) (14,761) (14,013)

Pada 31 Disember 13,104 27,585 10,536 25,623

10. PRABAYARAN TANAH MILIK PAJAK

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

KosPada 01 Januari 156,909 141,770 130,052 130,052Pelarasan (15,139) – – –

Pada 31 Disember 141,770 141,770 130,052 130,052

Pelunasan/Rugi Terjejas Terkumpul

Pada 01 Januari 24,833 23,489 22,901 21,722

Pelunasan Tahun Semasa 1,352 1,324 1,187 1,159

PelarasanPelunasan Tahun Semasa – 20 – 20

1,352 1,344 1,187 1,179PembalikanRugi Terjejas (9,342) – (9,342) –

Pada 31 Disember 16,843 24,833 14,746 22,901

Nilai Buku Bersih Pada 31 Disember 124,927 116,937 115,306 107,151



11. ASET DIPEGANG UNTUK JUALAN

KUMPULAN

2011 2010Kos/ Nilai Kos/ Nilai

Nilai Buku Pasaran Nilai Buku Pasaran(RM’000) (RM’000) (RM’000) (RM’000)

Ekuiti TersiarHarga – – 209,355 580,898Harta TanahDipegang untuk Jualan 17,913 23,610 – –

Harta Tanah PelaburanBangunanMilikBebas/Pajakan 3,710 3,191 – –Susut nilai Terkumpul (519) – – –

21,104 26,801 209,355 580,898

KWSP

2011 2010Kos/ Nilai Kos/ Nilai

Nilai Buku Pasaran Nilai Buku Pasaran(RM’000) (RM’000) (RM’000) (RM’000)

Ekuiti TersiarHarga – – 209,355 580,898Harta TanahDipegang untuk Jualan 17,913 23,610 – –

17,913 23,610 209,355 580,898

TermasukdidalamAsetDipegangUntukJualanbagiKumpulanadalah27unit asramadiKualaLumpur.Manakalabagi KWSP adalah harta tanah di Bandar InderaMahkota, KuantanPahang.

12. TANAH DIPEGANG UNTUK PEMBANGUNAN HARTA TANAH

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Tanah Milik PajakKosPada 01 Januari 64,954 64,946Tambahan – 8PengkelasanKepadaAsetDipegang untuk Jualan (4,686) –PengkelasanKepadaKosPembangunanHarta Tanah (60,268) –

Jumlah Kos/Nilai Dibawa Pada 31 Disember – 64,954



13. KOS PEMBANGUNAN HARTA TANAH

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Pada 01 Januari: TanahMilikBebas 11,446 11,446 – – KosPembangunan 154,297 154,208 148,140 148,051 KosDiiktiraf DalamPenyata Pendapatan (8,992) (8,992) – – KosPembangunanDijual (6,442) (4,643) – –

150,309 152,019 148,140 148,051KosDiiktiraf DalamTahun Semasa: TanahMilikBebas 64,697 – – – KosPembangunan 60,521 89 25 89

125,218 89 25 89Pengkelasan kepadaAsetDipegangUntuk Jualan (13,227) – (13,227) –PengkelasanDaripada TanahDipegangUntuk PembangunanHarta Tanah 60,268 – 60,268 –

Jualan: TanahMilikBebasDijual – (1,799) – –

Kos Pembangunan Harta Tanah Pada 31 Disember 322,568 150,309 195,206 148,140

Termasuk di dalam Kos Pembangunan Harta Tanah Kumpulan tahun semasa adalah faedah yang dipermodalkansebanyakRM1,129,631 (2010: RM1,129,631).

14. PELABURAN DALAM SYARIKAT SUBSIDIARI

KWSP

2011 2010Kos/ Nilai Boleh Kos/ Nilai Boleh

Nilai Buku Diperoleh Nilai Buku Diperoleh(RM’000) (RM’000) (RM’000) (RM’000)

Ekuiti TersiarHargaDomestik 1,061,753 1,496,665 908,758 693,173

ElaunRugi Terjejas – (215,585)

1,061,753 693,173

Ekuiti Tidak TersiarHargaDomestik 153,496 150,120 145,496 142,411

ElaunRugi Terjejas (3,376) (3,085)

150,120 142,411

1,211,873 835,584Ekuiti Tidak TersiarHargaGlobal 5,836,262 5,836,262 1,994,618 1,994,618

PinjamanKepada Syarikat Subsidiari 450,000 –PendahuluanKepada Syarikat Subsidiari 723,632 511,000PendahuluanModal * 24,504 24,291

1,198,136 535,291

8,246,271 3,365,493

* PendahuluanModalakandipermodalkansebagaiekuitidalamsyarikatsubsidiariberkenaanmengikutkelulusanKementerianKewangan.

Senarai syarikat subsidiari adalah seperti dinota 44.



14. PELABURAN DALAM SYARIKAT SUBSIDIARI (SAMB.)

Struktur kematanganPinjaman danPendahuluan kepada syarikat subsidiari adalah seperti berikut:

KWSP

2011 2010(RM’000) (RM’000)

MatangDalamTempohMelebihi 12Bulan 1,198,136 535,291

1,198,136 535,291

15. PELABURAN DALAM SYARIKAT BERSEKUTU

15.1 KUMPULAN



Ekuiti TersiarHargaDomestik 6,652,641 8,683,349 6,647,581 9,593,714


6,085,181 6,032,353

Ekuiti Tidak TersiarHargaDomestik 2,265,151 1,964,711 2,160,217 2,129,506


1,964,711 2,129,506

8,049,892 8,161,859

Pinjaman 8,457,811 –Sekuriti HutangPersendirian 1,764,528 1,516,300

18,272,231 9,678,159



15. PELABURAN DALAM SYARIKAT BERSEKUTU (SAMB.)

15.1 KUMPULAN (Samb.)



Tambah/(Kurang):Keuntungan/(Kerugian)DanPelarasanDalam SyarikatBersekutu: ProjekBandar Samariang SdnBhd – (3,117) PancaPesona SdnBhd 6,065 6,077 MalaysianResourcesCorporationBhd (73,437) (103,788) Bandar Eco-Setia SdnBhd 83,949 60,135 RHBCapital Berhad 1,864,959 1,530,772 Iskandar InvestmentBerhad 247,180 (23,348) Sunway SouthQuay SdnBhd (817) 2,163 HSBCAmanah Takaful (M) SdnBhd 335 (1,493) Malakoff CorporationBerhad 322,384 226,587 Columbia Asia SdnBhd (43,710) (43,480) nusaGapurnaDevelopment SdnBhd 42,452 – PLUSMalaysia SdnBhd (128) –

2,449,232 1,650,508

20,721,463 11,328,667

Berdasarkan kepentingan ekuiti efektif pada akhir tahun, kedudukan kewangan syarikat bersekutu adalahseperti berikut:

KUMPULAN

2011 2010(RM’000) (RM’000)

Aset 98,568,894 67,997,757Liabiliti 88,758,223 60,712,659Pendapatan 6,438,962 5,074,472Untung SelepasCukai 882,609 828,910



15. PELABURAN DALAM SYARIKAT BERSEKUTU (SAMB.)

15.2 KWSP



Ekuiti TersiarHargaDomestik 6,652,641 8,683,349 6,647,581 9,593,714


6,085,181 6,032,353

Ekuiti Tidak TersiarHargaDomestik 2,265,151 1,964,711 2,160,217 2,129,506


1,964,711 2,129,506

8,049,892 8,161,859

Pinjaman 8,457,811 –Sekuriti HutangPersendirian 1,764,528 1,516,300

18,272,231 9,678,159

Struktur kematangan Pinjaman dan Sekuriti Hutang Persendirian kepada syarikat bersekutu adalah sepertiberikut:

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

MatangDalamTempoh 12Bulan 8,457,811 –MatangDalamTempohMelebihi 12Bulan 1,764,528 1,516,300

10,222,339 1,516,300

Senarai syarikat bersekutu adalah seperti dinota 45.



16 ASET PELABURAN DIPEGANG SEHINGGA MATANG

16.1 KUMPULAN

2011 2010Kos Kos

Terlunas Terlunas(RM’000) (RM’000)

Sekuriti KerajaanMalaysia 88,201,196 90,923,386

TerbitanPelaburanKerajaan 36,367,615 27,593,753

Sekuriti HutangPersendirian 45,334,419 41,563,419

ElaunRugi Terjejas Atas Aset PelaburanDipegang SehinggaMatang (437,769) (438,362)

44,896,650 41,125,057

KertasKomersil – 180,655

Sekuriti Cagamas 2,870,242 2,508,830

BonKonvensional 1,826,083 2,386,304

Bon Islamik 2,885,705 1,843,247

Sijil-Sijil Bolehniaga 150,000 750,000

Sijil-Sijil Bolehniaga Islamik – 389,889

177,197,491 167,701,121

Struktur kematangan bagi Aset PelaburanDipegang SehinggaMatang adalah seperti berikut:

KUMPULAN

2011 2010(RM’000) (RM’000)

MatangDalamTempoh 12Bulan 9,829,584 11,199,063MatangDalamTempohMelebihi 12Bulan 167,367,907 156,502,058

177,197,491 167,701,121



16. ASET PELABURAN DIPEGANG SEHINGGA MATANG (SAMB.)

16.2 KWSP

2011 2010Kos Kos

Terlunas Terlunas(RM’000) (RM’000)

Sekuriti KerajaanMalaysia 88,201,196 90,923,386

TerbitanPelaburanKerajaan 36,367,615 27,593,753

Sekuriti HutangPersendirian 45,130,065 41,563,419

ElaunRugi Terjejas Atas Aset PelaburanDipegang SehinggaMatang (437,769) (438,362)

44,692,296 41,125,057

KertasKomersil – 180,655

Sekuriti Cagamas 2,870,242 2,508,830

BonKonvensional 1,826,083 2,386,304

Bon Islamik 2,885,705 1,843,247

Sijil-Sijil Bolehniaga 150,000 750,000

Sijil-Sijil Bolehniaga Islamik – 389,889

176,993,137 167,701,121

Struktur kematangan bagi Aset PelaburanDipegang SehinggaMatang adalah seperti berikut:

KWSP

2011 2010(RM’000) (RM’000)

MatangDalamTempoh 12Bulan 9,829,584 11,199,063MatangDalamTempohMelebihi 12Bulan 167,163,553 156,502,058

176,993,137 167,701,121



17. ASET KEWANGAN SEDIA DIJUAL

17.1 KUMPULAN

2011 2010Nilai Nilai

Saksama Saksama(RM’000) (RM’000)

INSTRUMEN PELABURAN EKUITIEKUITI TERSIAR HARGA

Ekuiti DomestikDiuruskan SecaraDalaman 94,132,933 91,518,022

Ekuiti DomestikDiuruskanOlehPengurusDana Luar 9,663,451 11,454,966

Ekuiti GlobalDiuruskan SecaraDalaman 28,149,769 21,475,789

Ekuiti GlobalDiuruskanOlehPengurusDana Luar 17,281,440 15,823,782

149,227,593 140,272,559

EKUITI TIDAK TERSIAR HARGA

Ekuiti Tidak TersiarHargaDomestik 565,855 488,878

Ekuiti Tidak TersiarHargaGlobal 1,483,656 1,053,475

2,049,511 1,542,353

INSTRUMEN PELABURAN BERPENDAPATAN TETAP DIURUSKAN OLEH PENGURUS DANA LUAR

InstrumenPelaburanBerpendapatan TetapDomestikDiuruskan OlehPengurusDana Luar 7,807,360 7,452,842

ElaunRugi Terjejas Atas Aset Kewangan SediaDijual (177,732) (108,199)

7,629,628 7,344,643

InstrumenPelaburanBerpendapatan TetapGlobalDiuruskan OlehPengurusDana Luar 4,244,673 2,303,306

11,874,301 9,647,949

LAIN-LAIN INSTRUMEN PELABURAN

StokPinjaman TersiarHarga – 115,878

163,151,405 151,578,739



17. ASET KEWANGAN SEDIA DIJUAL (SAMB.)

17.2 KWSP



INSTRUMEN PELABURAN EKUITIEKUITI TERSIAR HARGA

Ekuiti DomestikDiuruskan SecaraDalaman 94,132,933 91,518,022

Ekuiti DomestikDiuruskanOlehPengurusDana Luar 9,663,451 11,454,966

Ekuiti GlobalDiuruskan SecaraDalaman 28,149,769 21,475,789

Ekuiti GlobalDiuruskanOlehPengurusDana Luar 17,281,440 15,823,782

149,227,593 140,272,559

EKUITI TIDAK TERSIAR HARGA

Ekuiti Tidak TersiarHargaDomestik 565,855 488,878

Ekuiti Tidak TersiarHargaGlobal 1,432,585 1,053,475

1,998,440 1,542,353

INSTRUMEN PELABURAN BERPENDAPATAN TETAP DIURUSKAN OLEH PENGURUS DANA LUAR

InstrumenPelaburanBerpendapatan TetapDomestik DiuruskanOlehPengurusDana Luar 7,807,360 7,452,842

ElaunRugi Terjejas Atas Aset Kewangan SediaDijual (177,732) (108,199)

7,629,628 7,344,643

InstrumenPelaburanBerpendapatan TetapGlobal DiuruskanOlehPengurusDana Luar 4,244,673 2,303,306

11,874,301 9,647,949

LAIN-LAIN INSTRUMEN PELABURAN

StokPinjaman TersiarHarga – 115,878

163,100,334 151,578,739



18. ASET KEWANGAN PADA NILAI SAKSAMA MELALUI PENYATA UNTUNG/RUGI

18.1 KUMPULAN



PelaburanAlternatif Global 1,219,283 689,584

Aset PelaburanDipegangUntukDagangan 793,342 65,090

Aset KewanganDerivatif 417,569 99,394

Aset KewanganDerivatif Terangkum 39,215 92,910

2,469,409 946,978

18.2 KWSP

2011 2010Nilai nilai


PelaburanAlternatif Global 465,621 415,552

Aset PelaburanDipegangUntukDagangan 793,342 65,090

Aset KewanganDerivatif 417,569 99,394

Aset KewanganDerivatif Terangkum 39,215 92,910

1,715,747 672,946



19. PINJAMAN, PENDAHULUAN DAN PEMBIAYAAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Pinjaman Terjamin 84,642,489 82,877,673 84,381,114 82,877,673PembiayaanAkhir: RancanganPembiayaanPerumahanBiasa 3,684,956 3,910,292 – – RancanganPembiayaanPerumahanKosRendah 22,027 21,008 – –KemudahanPinjamanSecara Islam: Harta Tanah 1,855,080 1,873,299 – – PinjamanPeribadi 8,717,844 3,981,833 90 – PinjamanPenyambungDanBerjangka 3,498,056 4,688,898 – – PinjamanStaf 132,747 128,786 106,540 106,483KemudahanPinjamanSecaraKonvensional: PinjamanStaf 99,629 103,908 99,629 103,908

Pinjaman, PendahuluanDanPembiayaanKasar 102,652,828 97,585,697 84,587,373 83,088,064

ElaunRugi Terjejas AtasPinjaman, Pendahuluan DanPembiayaan (2,691,826) (3,866,377) (72,377) (75,274)Faedah/KeuntunganDigantung – (65) – (65)

Pinjaman, Pendahuluan Dan Pembiayaan Bersih 99,961,002 93,719,255 84,514,996 83,012,725

Struktur kematanganPinjaman, PendahuluanDanPembiayaan adalah seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MatangDalamTempoh 12Bulan 28,541,947 5,625,132 27,791,508 5,576,653MatangDalamTempohMelebihi 12Bulan 74,110,881 91,960,565 56,795,865 77,511,411

102,652,828 97,585,697 84,587,373 83,088,064

Termasuk di dalam pinjaman penyambung dan berjangka yang diberikan oleh Kumpulan terhadap projek usahasama adalah amaun telah terjejas sebagaimana berikut:

KUMPULAN

2011 2010(RM’000) (RM’000)

PinjamanKepadaRakanKongsiUsaha Sama 44,784 138,616

Butiran mengenai aset kewangan Pinjaman, Pendahuluan Dan Pembiayaan yang ditaksir sebagai terjejas setakat31Disember2011adalahditunjukkandalamnota41.1a.ManakalapergerakanrugiterjejasterkumpulyangdiakaunkandalamElaunRugi TerjejasAtasPinjaman,PendahuluanDanPembiayaan adalah ditunjukkandalamnota 41.1c.



20. INVENTORI HARTA SIAP

KUMPULAN

2011 2010(RM’000) (RM’000)

Pada Kos 219 160Padanilai TerrealisBersih: TanahDipegangUntuk Jualan 121,620 121,620

121,839 121,780

Tiada kos inventori yang diiktiraf sebagai belanja dalam tahun semasa (2010: RM974,000).

Termasuk di dalam inventori adalah tanah yang diperolehi untuk pembangunan dengan nilai dibawa seperti berikut:

KUMPULAN

2011 2010(RM’000) (RM’000)

TanahDidaftarkanAtasnamaSyarikat Subsidiari 8,197 8,197

8,197 8,197

21. PENGHUTANG, CAGARAN DAN PRABAYARAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

PrabayaranDanCagaran 1,472 1,158 1,472 1,158Cagaran Sewa 32,827 32,275 1,744 1,777SewaBangunan 40,115 478 10,033 478Pendahuluan TidakBercagarUntukProjek Usaha Sama 222,681 200,576 – –Harta Tanah–DitarikBalik 150,545 74,335 – –PenghutangPerdagangan 45,767 30,253 – –AkruanPenjualan SahamDomestik/GlobalDiuruskan secaraDalaman 189,917 789,759 189,917 789,759

AkruanPenjualanPelaburanBerpendapatan TetapDiuruskan SecaraDalaman 156,319 – 156,319 –AkruanPenjualanPelaburanDiuruskan olehPengurusDana Luar 282,347 131,240 282,347 131,240

Transit Tunai Dipegang olehPengurusDana Luar 974,899 389,889 974,899 389,889AkruanPelbagai ItemBukanPelaburanDanDeposit 112,210 90,825 4,354 6,016

Deposit DenganBanknegaraMalaysia 24,500 – 24,500 –Caj PerkhidmatanBelumTerima 26,164 21,797 26,164 21,797

2,259,763 1,762,585 1,671,749 1,342,114ElaunRugi Terjejas (212,269) (182,839) (9,543) –

2,047,494 1,579,746 1,662,206 1,342,114

SemuaPenghutang, CagaranDanPrabayaranmatang dalam tempoh 12 bulan.



22. DEPOSIT DENGAN INSTITUSI KEWANGAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

BankBerlesen/Bank Islam 10,001,196 15,898,191 9,977,296 15,582,587BankPelaburanBerlesen 2,066,520 4,429,992 2,050,000 4,429,992BanknegaraMalaysia 115,101 48,759 115,101 48,759Lain-lain Institusi Kewangan 3,815,727 3,357,045 2,644,426 2,604,187

15,998,544 23,733,987 14,786,823 22,665,525

Struktur kematanganDeposit Dengan Institusi Kewangan adalah seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MatangDalamTempoh 12Bulan 15,998,544 23,733,987 14,786,823 22,665,525

15,998,544 23,733,987 14,786,823 22,665,525

23. PERUNTUKAN BAGI MANFAAT PEKERJA

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Pada 01 Januari 139,802 123,635Peruntukan YangDibuatDalamTahun Semasa 23,725 20,787Pelarasan Tahun Semasa (260) (356)

163,267 144,066BayaranDibuatDalamTahun Semasa (4,234) (4,264)

Pada 31 Disember 159,033 139,802

Struktur kematanganPeruntukanBagiManfaat Pekerja adalah seperti berikut:

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

MatangDalamTempoh 12Bulan 326 719MatangDalamTempohMelebihi 12Bulan 158,707 139,083

159,033 139,802



24. PINJAMAN DAN OVERDRAF

KUMPULAN

2011 2010(RM’000) (RM’000)

PinjamanBankDanOverdraf 1,481,752 200,119TanggunganAtas JualanPinjamanKepadaCagamas 551,676 964,093Lain-lain Pinjaman 4,500 4,500

2,037,928 1,168,712

Struktur kematanganPinjamanDanOverdraf adalah seperti berikut:

KUMPULAN

2011 2010(RM’000) (RM’000)

MatangDalamTempoh 12Bulan 292,331 209,644MatangDalamTempohMelebihi 12Bulan 1,745,597 959,068

2,037,928 1,168,712

Berikut adalahmaklumat-maklumat berhubungPinjamanDanOverdraf:

24.1 PINJAMAN BANK

Pinjaman daripada bank adalah tanpa cagaran dan faedah yang dikenakan ke atas kemudahan ini adalahberdasarkankosdanapeminjamcampur0.50%.Pinjamanbank ini perludibayardalam tempohsatu tahun.

25. DEPOSIT DAN PENDAHULUAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

AnsuranMajikan 42,205 44,731 42,205 44,731Bayaran TergantungMajikan 5,608 4,810 5,608 4,810Deposit Pelbagai Pelanggan 13,512,476 10,483,743 – –Deposit Di Syarikat Subsidiari – – 69 75Deposit SewaPremis 47,935 12,909 13,598 12,909BayaranPendahuluanProjekUsaha Sama 90,035 78,132 90,035 78,132Deposit Pelbagai 1,377 182 1,377 182

13,699,636 10,624,507 152,892 140,839



25. DEPOSIT DAN PENDAHULUAN (SAMB.)

Struktur kematangan bagi Deposit DanPendahuluan adalah seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MatangDalamTempoh 12Bulan 12,570,380 9,497,234 152,892 140,839MatangDalamTempohMelebihi 12Bulan 1,129,256 1,127,273 – –

13,699,636 10,624,507 152,892 140,839

26. PEMIUTANG DAN LIABILITI TERAKRU

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

AkruanBayaranPentadbiranDan Pelbagai BukanPelaburan 451,174 273,964 213,127 109,953PendapatanDividen Tertunda 23,090 – – –AkruanPembelian SahamDomestik/ GlobalDiuruskan secaraDalaman 274,017 191,567 274,017 191,567AkruanBayaranPelbagai Pelaburan 53,313 187,326 53,106 187,326Pendahuluan SewaDiterima 30,823 33,925 3,262 3,290Invokasi Di BawahSeksyen 50(3) 4,137 4,785 4,137 4,785

836,554 691,567 547,649 496,921

Struktur kematangan bagi PemiutangDan Liabiliti Terakru adalah seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MatangDalamTempoh 12Bulan 796,334 578,694 547,649 496,921MatangDalamTempohMelebihi 12Bulan 40,220 112,873 – –

836,554 691,567 547,649 496,921



27. AKAUN CARUMAN

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Baki Pada 01 Januari 407,565,535 373,742,966

Terimaan Dan Pelarasan Caruman

CarumanDiterimaDaripadaMajikan 41,434,343 35,755,813PenebusanPelaburan SahamAmanahOlehAhli 2,234,949 2,506,233Penebusan/Pembatalan SkimAnuiti Oleh Ahli 238,370 329,580Pemulihan/PelarasanAkaunCarumanAhli 10,206 17,662

43,917,868 38,609,288

Agihan Dividen Kepada Ahli

DividenDikreditkan–6.00% (2010–5.80%) 24,466,019 21,610,131PelarasanDividenUntuk Tahun Terdahulu 8,921 13,600

24,474,940 21,623,731

Tolak:Pengeluaran Dan Pengembalian Caruman

SkimPengeluaranUmur 55 Tahun 10,231,416 8,516,380SkimPengeluaranUmur 50 Tahun 3,605,904 3,207,134SkimPengeluaranHilangUpaya 325,837 289,976SkimPengeluaranMeninggalkannegara 189,842 185,955SkimPengeluaranMembeli/MembinaRumah 1,938,362 1,896,550SkimPengeluaranMenyelesaikan/MengurangkanBaki Pinjaman Perumahan/AnsuranBulananPinjamanPerumahan 2,411,162 2,413,363SkimPengeluaranKesihatan 39,392 35,343SkimPengeluaranKematian 731,452 660,861SkimPengeluaranBayaranBerkala 9,343 13,310SkimPelaburan SimpananAhli KWSP 6,600,300 4,415,591SkimPengeluaranPekerjaBerpencen/PesaraPilihan 3,029,360 4,009,783SkimPengeluaranPendidikan 277,970 269,867SkimPengeluaranBayaranBulanan 134 127SkimPengeluaran SimpananMelebihi RM1 Juta 481,967 362,428PengembalianKepadaMajikan/Ahli–Kaedah 33(1), Kaedah-Kaedah&Peraturan-PeraturanKWSP, 1991 28,640 23,749Pengembalian SyerMajikanKepadaKumpulanWangAmanahPencen –Seksyen 56, AktaKWSP, 1991 118,350 110,033

30,019,431 26,410,450

Baki Pada 31 Disember 445,938,912 407,565,535



27. AKAUN CARUMAN (SAMB.)

Caruman yang layak dikeluarkan oleh ahli bagi Skim Pengeluaran Umur 50 Tahun dan Umur 55 Tahun adalahseperti di bawah:

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

JumlahCaruman LayakDikeluarkanDalamTempoh 12Bulan 95,751,981 83,078,055JumlahCaruman LayakDikeluarkanDalamTempohMelebihi 12Bulan 350,186,931 324,487,480

445,938,912 407,565,535

Aset/Caruman Ahli Di Institusi Pengurus Dana

Amaun kumulatif yang dilaburkan oleh ahli-ahli KWSP dalam Institusi Pengurus Dana tidak ditunjukkan di dalamPenyataKedudukanKewangan kerana risiko dan keuntungan pelaburan ditanggung oleh ahli.

28. PENDAPATAN PELABURAN KASAR

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

FaedahDanKeuntunganDari Pelaburan:

Diuruskan SecaraDalaman 9,530,155 9,059,783 9,542,881 9,059,783 PengurusDana Luar 514,348 390,809 514,348 390,809

10,044,503 9,450,592 10,057,229 9,450,592DividenDari Pelaburan:

Diuruskan SecaraDalaman 4,635,973 4,023,167 4,853,204 4,080,649 PengurusDana Luar 1,556,254 598,415 1,556,254 598,415

6,192,227 4,621,582 6,409,458 4,679,064KeuntunganPelaburan Terhasil:

Diuruskan SecaraDalaman 4,435,221 4,430,914 4,435,221 4,278,411 PengurusDana Luar 2,328,360 1,954,720 2,328,360 1,954,720

6,763,581 6,385,634 6,763,581 6,233,131

Pendapatan FaedahDari Pinjaman, Pendahuluan DanPembiayaan 4,543,902 4,001,891 3,774,114 3,508,905Pendapatan Sewa 364,909 166,919 113,748 100,703Faedah/KeuntunganDari Baki Bank 428 560 428 560Keuntungan TidaknyataDari Aset Kewangan Padanilai SaksamaMelalui PenyataUntung/Rugi 141,264 126,943 115,072 88,097PendapatanPelbagai 6,011 9,241 1,665 2,479

28,056,825 24,763,362 27,235,295 24,063,531



29. PERBELANJAAN PELABURAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

YuranPengurusDana Luar 140,223 92,194 140,223 92,194FaedahAtasDeposit, PinjamanDanOverdraf 161,320 142,552 – –BayaranCukai AtasPelaburanGlobal 13,830 6,689 13,830 6,689Pelbagai 704 10,495 704 10,495

316,077 251,930 154,757 109,378

30. RUGI TERJEJAS ATAS ASET KEWANGAN PELABURAN BERSIH

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Rugi Terjejas Atas Aset PelaburanDipegang SehinggaMatang – (350,000) – (350,000)Rugi Terjejas Atas Aset Kewangan SediaDijual (1,139,314) (830,423) (1,139,314) (830,423)Rugi Terjejas AtasPinjaman, PendahuluanDanPembiayaan (174,672) (112,234) – –

Rugi Terjejas AtasPenghutang (9,543) – (9,543) –

(1,323,529) (1,292,657) (1,148,857) (1,180,423)

Rugi Terjejas Atas Aset PelaburanDipegang SehinggaMatangDicatat Semula 594 11,477 594 11,477Rugi Terjejas Atas Aset Kewangan SediaDijual Dicatat Semula 6,709 1,096 6,709 1,096Rugi Terjejas AtasPinjaman, Pendahuluan DanPembiayaanDicatat Semula 2,906 8 2,906 8Rugi Terjejas Atas AsetDipegangUntuk Jualan Dicatat Semula – 8,414 – 8,414

10,209 20,995 10,209 20,995

(1,313,320) (1,271,662) (1,138,648) (1,159,428)



31. RUGI TERJEJAS ATAS PELABURAN DALAM SYARIKAT SUBSIDIARI DAN SYARIKAT BERSEKUTU BERSIH

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Rugi Terjejas AtasPelaburanDalamSyarikat Subsidiari – – (1,432) –PembalikanRugi Terjejas AtasPelaburan DalamSyarikat Subsidiari – – 216,726 223,437

– – 215,294 223,437

Rugi Terjejas AtasPelaburanDalam SyarikatBersekutu – – (269,729) (7,145)PembalikanRugi Terjejas AtasPelaburan DalamSyarikatBersekutu – – 47,768 18,674

– – (221,961) 11,529

– – (6,667) 234,966

32. PENDAPATAN BUKAN PELABURAN

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Faedah/KeuntunganDari PinjamanStaf 7,488 7,346 7,488 7,346Dividen/FaedahDari Caruman TerlewatBayar 25,400 35,128 25,400 35,128KeuntunganAtasPelupusanHarta Tanah, Loji DanPeralatan 3,157 265 40 258KeuntunganAtasPelupusanHarta TanahPelaburan 1,100 1,774 - -Caj Perkhidmatan 161,446 88,706 26,164 21,797PendapatanPelbagai 43,236 39,416 5,099 14,200

241,827 172,635 64,191 78,729



33. PERBELANJAAN OPERASI

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Gaji, ElaunDanKos Staf 685,616 572,219 593,750 512,676BayaranAudit 1,485 859 371 335BayaranAktuari 139 17 139 17BayaranPendaftaranCDS 12 1,043 12 1,043YuranDanBayaran Ikhtisas 46,709 28,911 18,828 16,075PercetakanDanAlatulis 6,780 6,107 4,861 4,788Belanja PosDan Telefon 27,158 24,438 21,819 20,017PengangkutanDanPerjalanan 10,406 11,256 8,255 8,565SewaDanCukai Tanah 21,838 15,122 12,006 12,349InsuranAtasHarta 1,177 911 830 828PenyelenggaraanHarta Tanah, Loji DanPeralatan 67,590 62,870 58,985 52,419Aset TidakDipermodalkan 2,292 2,461 2,292 2,461Susutnilai Harta Tanah, Loji DanPeralatan 48,199 35,302 40,629 28,147Susutnilai Harta TanahPelaburan 49,107 43,298 37,219 31,407PelunasanAset TakKetara 15,421 14,379 14,761 14,013PelunasanPrabayaran TanahMilik Pajak 1,352 1,344 1,187 1,179KerugianBersih AtasPelarasannilai Saksama Harta TanahPelaburanGlobal 199,813 40,828 – –HapusKira/KerugianBersih 167 48 167 48Elaun/HapusKiraHutang LapukDanRagu 17,117 19,164 – –BayaranKhidmat Teknik 47,244 20,451 47,229 20,451PengiklananDanPenerbitan 8,277 5,524 2,344 2,115HonorariumAhli Lembaga/Panel Pelaburan 1,105 923 1,105 923GanjaranPengarah 1,251 1,001 – –Manfaat Pekerja 23,725 20,787 23,725 20,787Belanja Pelbagai 187,640 104,244 3,264 2,310

1,471,620 1,033,507 893,778 752,953

34. CAJ BERKANUN

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Amaun TambahanKematian-Seksyen 58(1) 37,797 38,243Amaun TambahanHilangUpaya-Seksyen 58(2) 4,720 4,790

42,517 43,033



35. PEMBALIKAN RUGI TERJEJAS ATAS HARTA TANAH

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Rugi Terjejas AtasHarta TanahPelaburan (3,549) –PembalikanRugi Terjejas AtasHarta TanahPelaburan 15,523 –

11,974 –

PembalikanRugi Terjejas AtasPrabayaran TanahMilik Pajak 9,342 –

9,342 –

21,316 –

36. CUKAI DAN ZAKAT

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Zakat 524 524 – –

Cukai: Tahun Semasa 136,321 64,645 – – (Lebih)/KurangDiakrukanPada Tahun Sebelum (27,059) (3,122) – – Cukai TertundaDiambil KiraDalamTahun Semasa 2,524 1,552 – –

112,310 63,599 – –

CukaipendapatandikirapadakadarstatutMalaysia iaitu25% (2010:25%)berdasarkananggarankeuntunganbolehcukai pada tahun semasa. Pengiraan Cukai Tertunda bagi tahun kewangan berakhir pada 31 Disember 2011 telahmengambil kira semua pelarasan.



36. CUKAI DAN ZAKAT (SAMB.)

PenyesuaianPerbelanjaanCukaiPendapatandari keuntungan sebelumcukai padakadar statut bagiKumpulandanKWSP adalah seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Pendapatan SebelumCukai 26,186,246 23,149,781 25,084,435 22,312,434Cukai PadaKadar StatutMalaysia 25% (2010: 25%)/UK 20% (2010: 20%) 6,622,818 5,787,445 6,271,109 5,578,109KesanKepadaPendapatan Tidak Tertakluk KepadaCukai (6,559,192) (5,745,838) (6,271,109) (5,578,109)Cukai Luarnegara 544 251 – –KesanKepadaPerbelanjaan Tidak Akan DitolakBagi TujuanCukai 55,243 18,630 – –PenggunaanKerugianCukai BelumDiserap Dan ElaunModal YangBelumDigunakan YangDahulunyaBelumDiiktiraf (1,445) 501 – –Pengiktirafan Aset Cukai TertundaBelumDiiktiraf 21,375 5,831 – –PeruntukanPerbelanjaanCukai (Terlebih)/ TerkurangBagi Tahun Sebelumnya (27,059) (3,108) – –Peruntukan Liabiliti Cukai Tertunda (Terlebih)/ TerkurangBagi Tahun Sebelumnya – (14) – –PengiktirafanCukai TertundaAtasPelarasan nilai SaksamaAtasPenyatuan – (74) – –PerbezaanPerubahanKadarCukai 26 (25) – –

112,310 63,599 – –

37. LAIN-LAIN PENDAPATAN/(KERUGIAN) KOMPREHENSIF

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Keuntungan TidaknyataBersih AtasPenilaian Semulanilai SaksamaAset Kewangan Sedia Dijual DalamTahun Semasa (1,076,457) 20,760,189 (1,076,457) 20,760,189

PelarasanKitaran SemulaRizab Aset Kewangan SediaDijual YangDiiktiraf DalamPenyata Pendapatan Tahun SemasaAtasPenjualan Aset Kewangan SediaDijual (6,019,541) (7,357,858) (6,019,541) (7,357,858)

(7,095,998) 13,402,331 (7,095,998) 13,402,331PerbezaanPertukaranMataWangAsing 73,560 – – –

(7,022,438) 13,402,331 (7,095,998) 13,402,331



38. TUNAI DAN KESETARAAN TUNAI

Tunai Dan Kesetaraan Tunai yang dimasukkan dalam Penyata Aliran Tunai adalah terdiri daripada butiran danamaun yang dilaporkan dalamPenyataKedudukanKewangan seperti berikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

BakiBankDanWang Tunai 613,527 410,983 238,937 265,875Deposit TetapDenganBankBerlesen 1,211,721 1,068,462 – –AkaunPasaranWang–BanknegaraMalaysia 115,101 48,759 115,101 48,759

1,940,349 1,528,204 354,038 314,634

39. PENGLIBATAN MODAL

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

a. Penglibatan Modal DiluluskanDan Terikat 26,532 30,693 26,532 30,693 Diluluskan Tetapi BelumTerikat 364,413 253,669 277,460 213,883

390,945 284,362 303,992 244,576b. Penglibatan Operasi PenglibatanPinjaman Yang Tidak Diperuntukkan DalamPenyataKewangan: PembiayaanAkhir 243,602 104,870 – – PinjamanPenyambungDanBerjangka 2,925,838 174,234 – – PinjamanSecara Islam 217,780 147,824 – –

3,387,220 426,928 – – PembangunanHarta: DiluluskanDan Terikat 421,528 421,528 – –

421,528 421,528 – –c. Luar Jangka JaminanKewanganBagiMelindungi Bayaran

Peminjam (PerlindunganPenuh)80,375 19,405 – –

80,375 19,405 – –

4,280,068 1,152,223 303,992 244,576

Tanggungan luar jangka yang dilindungi sepenuhnya adalah dilindungi melalui cagaran tetap ke atas projekpembangunan peminjamdan debentur sebagai cagaran tetap dan terapung ke atas keseluruhan aset peminjam.



40. TANGGUNGAN KEMUNGKINAN LUAR JANGKA

40.1 Tindakan Sivil

Bekas peminjam syarikat subsidiari telah memfailkan tindakan sivil terhadap syarikat subsidiari ataspemungkiran perjanjian kemudahanpinjamandan telahmenuntut kerugian berjumlahRM43.31 juta. Syarikatsubsidiari telah menamatkan kemudahan tersebut kerana pemungkiran peminjam ke atas perjanjian dankemudiannyamenjual aset pinjaman tersebut kepada pihak yang tidak berkaitan dengan syarikat subsidiari.

Pada30September2010,Mahkamahtelahmenolaktuntutanpeminjamdengankos.Peminjamtelahmemfailkansemak rayuan pada 25 Oktober 2010. Kes ini sedang menunggu tarikh pendengaran bagi rayuan olehpeminjam.

TiadaperuntukandibuatdiPenyataKewanganterhadaptuntutandiatas,selepasPengarahsyarikatsubsidiarimendapat nasihat perundangan dari peguam, yang berpandangan bahawa syarikat mempunyai alasan yangmunasabah atas tuntutan yang dibuat.

40.2 Tuntutan Luar Jangka

a. Invokasi Di Bawah Seksyen 50(3), Akta KWSP, 1991

Seksyen daripada Akta ini menghendaki KWSP untuk membayar caruman syer pekerja bagi potonganyang dibuat atas gaji pekerja sekiranya majikan gagal membayar syer caruman tersebut. Amauntanggungan kemungkinan luar jangka adalah dianggarkan sebanyak RM15.19 juta (2010: RM14.10 juta)tidak termasuk dividen terakru daripada tempoh potongan dibuat. Seksyen ini hanya terpakai setelahsemua usaha untukmemastikanmajikanmembuat bayaranmenemui kegagalan.

b. Caj Berkanun Di Bawah Seksyen 58(1) Dan (2), Akta KWSP, 1991

Caj Berkanun yang terdiri daripada Amaun Tambahan Kematian di bawah Seksyen 58(1) serta AmaunTambahan Hilang Upaya di bawah Seksyen 58(2), Akta KWSP, 1991 adalah dibayar kepada ahlimenggunakan hasil KWSP dan bukan hak kredit ahli. Apabila ahli atau waris ahli tidak menunaikanbayaran yang telah dibuat untuk suatu tahun kewangan, maka apabila tuntutan dibuat dalam tahunberikutnya, bayaran semula kepada ahli atau waris ahli akan dibayarmenggunakan hasil pada tahun dimanatuntutansemuladibuat.Setakat31Disember2011,tanggunganluar jangkabagiAmaunTambahanKematianadalahsebanyakRM11.65 juta (2010:RM11.69 juta),manakalaAmaunTambahanHilangUpayaadalah berjumlahRM6.43 juta (2010: RM6.43 juta).

41. RISIKO KEWANGAN

41.1 Risiko Kredit

Risiko kredit adalah risiko kerugian disebabkan oleh ketidakmampuan atau keengganan peminjam/pihakketiga dalam memenuhi obligasi kewangannya. Pendedahan kepada risiko kredit wujud daripada aktivitipinjaman, lindung nilai, dagangan dan pelaburan.

ObjektifutamapengurusanrisikokreditdiKWSPadalahuntukmemastikanpendedahanterhadaprisikokreditsentiasa berada dalam lingkungan kemampuan dan kapasiti kewangan untuk menghadapi kemungkinankerugian dimasa hadapan.

KWSPmemastikanpuratakadaranportfolioAAbagisekuritihutangdanpinjamannya.Darisegipolisi,KWSPhanyamelabur di dalam sekuriti hutang yang berkadaran permulaanA3/A- atau yang lebih baik.Walau bagaimanapun,KWSP juga melabur di dalam aset yang tidak berkadaran di mana kadaran yang diberi menggunakan modelkadarandalamanadalahsejajardenganpendekatan yangdigunapakai olehagensi kadaran luaran.

Risiko kredit peminjam/pihak ketiga yang berpunca dari penempatan deposit dengan institusi kewangandiuruskan dengan menetapkan had seperti semua deposit yang akan dipegang oleh institusi kewanganberkadaranA3/A- atau yang lebih tinggi.



41. RISIKO KEWANGAN (SAMB.)

41.1 Risiko Kredit (Samb.)

a. Kualiti Kredit

KWSP telah membangunkan pelbagai pendekatan untukmengukur risiko kredit seperti Model PortfolioKredit yang digunakan untuk mengira modal risiko kredit dan Templat Kadaran Korporat bagimenyediakan kadaran risiko dalaman untuk peminjamkorporat.

Portfolio hutang KWSP diuruskan oleh pengurus portfolio dalaman dan luaran yang dilantik oleh PanelPelaburan. Kedua-dua portfolio ini adalah tertakluk kepada pendedahan maksimum bagi memastikanportfolio tersebut dipelbagaikan.

KWSP turut melabur di dalam kertas jangka pendek yang merangkumi senarai kertas komersial atauKertas Komersial Sejagat yang telah diluluskan. Kertas Komersial Sejagat ini membantu prosesperdagangan dan memberikan jaminan kepada KWSP bahawa pendedahan terhadap kertas komersialhanya diberikan kepada peminjam yang berkadaran tinggi.

KWSP mengklasifikasikan sekuriti hutang berdasarkan skala kadaran dalaman yang konsisten denganagensi kadaran domestik dan luar negara. Pengkelasan kualiti kredit adalah seperti berikut:

Klasifikasi Kualiti

i. Kadaran Jangka Panjang Bagi Bayaran Obligasi Kewangan Jangka Panjang

Kadaran Jangka Panjang Kadaran Kredit Definisi Klasifikasi Kualiti

Sovereign Sovereign Diisu olehKerajaan.Tinggi AAA danAA Keupayaan tinggi untukmemenuhi obligasi

kewangan.Sederhana A Keupayaan sederhana untukmemenuhi

obligasi kewangan.Lemah BBBdan ke bawah Keupayaan rendah untukmemenuhi obligasi

kewangan.

ii. Kadaran Jangka Pendek Bagi Bayaran Obligasi Kewangan Jangka Pendek

Kadaran Jangka Pendek Kadaran Kredit Definisi Klasifikasi Kualiti

Tinggi P1 Keupayaan tinggi untukmemenuhi obligasi kewangan.

Sederhana P2 Keupayaan sederhana untukmemenuhi obligasi kewangan.

iii. Aset Kewangan Tidak Berkadaran

Merupakan aset kewangan seperti penghutang, deposit, faedah dan dividen terakru yang tidakmempunyai kadaran kredit luaran.

iv. Aset Kewangan Yang Terjejas

Pendedahan disemak secara individu untuk penentuan rugi terjejas berdasarkan polisi perakaunanKWSP.





a. Kualiti Kredit (Samb.)

Agihanasetkewangankasarmengikutkualiti kredit setakat 31Disember2011adalahsebagaimanaberikut:

KUMPULAN 2011

Sovereign

(RM’000)

Tinggi

(RM’000)

Sederhana

(RM’000)

Lemah

(RM’000)

TidakBerkadaran

(RM’000)

Terjejas

(RM’000)

Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 124,847,803 49,801,853 2,897,835 – – 87,769 177,635,260Aset Kewangan Sedia Dijual 440,779 10,581,201 769,044 – 101,864 159,145 12,052,033Pinjaman, Pendahuluan DanPembiayaan 19,700,000 64,868,391 7,358,952 – 7,513,633 3,211,852 102,652,828Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 793,342 – – – – – 793,342Deposit Dengan Institusi KewanganDanBaki Bank 115,105 12,467,724 2,607,512 – 1,421,730 – 16,612,071Lain-lain Aset Kewangan – – – – 8,039,641 203,758 8,243,399

145,897,029 137,719,169 13,633,343 – 17,076,868 3,662,524 317,988,933


KUMPULAN 2010

Sovereign

(RM’000)

Tinggi

(RM’000)

Sederhana

(RM’000)

Lemah

(RM’000)

TidakBerkadaran

(RM’000)

Terjejas

(RM’000)

Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 118,517,139 46,037,595 2,838,185 110,100 – 636,464 168,139,483Aset Kewangan Sedia Dijual – 6,610,697 1,424,685 92,186 1,620,917 123,541 9,872,026Pinjaman, Pendahuluan DanPembiayaan 20,700,000 61,444,178 5,817,634 13,136 4,577,350 5,033,334 97,585,632Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 65,090 75,299 – 17,611 – – 158,000Deposit Dengan Institusi KewanganDanBaki Bank 48,762 19,179,308 4,792,119 – 124,781 – 24,144,970Lain-lain Aset Kewangan – – 188,818 – 4,684,080 – 4,872,898

139,330,991 133,347,077 15,061,441 233,033 11,007,128 5,793,339 304,773,009





a. Kualiti Kredit (Samb.)


KWSP 2011

Sovereign

(RM’000)

Tinggi

(RM’000)

Sederhana

(RM’000)

Lemah

(RM’000)

TidakBerkadaran

(RM’000)

Terjejas

(RM’000)

Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 124,847,803 49,801,853 2,693,481 – – 87,769 177,430,906Aset Kewangan Sedia Dijual 440,779 10,581,201 769,044 – 101,864 159,145 12,052,033Pinjaman, Pendahuluan DanPembiayaan 19,700,000 64,607,016 – – 206,259 74,098 84,587,373Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 793,342 – – – – – 793,342Deposit Dengan Institusi KewanganDanBaki Bank 115,105 12,315,459 2,595,156 – 40 – 15,025,760Lain-lain Aset Kewangan – – – – 7,614,821 – 7,614,821

145,897,029 137,305,529 6,057,681 – 7,922,984 321,012 297,504,235


KWSP 2010

Sovereign

(RM’000)

Tinggi

(RM’000)

Sederhana

(RM’000)

Lemah

(RM’000)

TidakBerkadaran

(RM’000)

Terjejas

(RM’000)

Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 118,517,139 46,037,595 2,838,185 110,100 – 636,464 168,139,483Aset Kewangan Sedia Dijual – 6,610,697 1,424,685 92,186 1,620,917 123,541 9,872,026Pinjaman, Pendahuluan DanPembiayaan 20,700,000 61,444,178 645,359 13,136 209,964 75,362 83,087,999Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 65,090 75,299 – 17,611 – – 158,000Deposit Dengan Institusi KewanganDanBaki Bank 48,762 18,090,479 4,792,119 – 40 – 22,931,400Lain-lain Aset Kewangan – – – – 4,640,134 – 4,640,134

139,330,991 132,258,248 9,700,348 233,033 6,471,055 835,367 288,829,042





b. Analisa UsiaAmaun dalam jadual di bawah menunjukkan pendedahan aset kewangan kasar di mana bayaran balikobligasi lewat diterima tetapi belum terjejas:

KUMPULAN 2011

Belum LewatTerima Dan

BelumTerjejas(RM’000)

LewatTerima

Sehingga1 Bulan(RM’000)

LewatTerima

1 Hingga3 Bulan(RM’000)

LewatTerima


LewatTerima

Melebihi6 Bulan(RM’000)

Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 177,547,491 – – – – 177,547,491Aset Kewangan SediaDijual 11,892,888 – – – – 11,892,888Pinjaman, Pendahuluan DanPembiayaan 96,487,692 1,430,249 1,055,460 467,575 – 99,440,976Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 793,342 – – – – 793,342Deposit Dengan Institusi KewanganDanBaki Bank 16,612,071 – – – – 16,612,071Lain-lain Aset Kewangan 8,035,982 617 42 – – 8,039,841

311,372,466 1,430,866 1,055,502 467,575 – 314,326,409

KUMPULAN 2010



LewatTerima


LewatTerima


LewatTerima


LewatTerima


Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 167,503,019 – – – – 167,503,019Aset Kewangan SediaDijual 9,748,485 – – – – 9,748,485Pinjaman, Pendahuluan DanPembiayaan 83,012,637 3,350 364 4,379 9,531,568 92,552,298Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 158,000 – – – – 158,000Deposit Dengan Institusi KewanganDanBaki Bank 24,144,970 – – – – 24,144,970Lain-lain Aset Kewangan 4,684,080 1,569 – 2 187,247 4,872,898

289,251,191 4,919 364 4,381 9,718,815 298,979,670





b. Analisa Usia (Samb.)

Amaun dalam jadual di bawah menunjukkan pendedahan aset kewangan kasar di mana bayaran balikobligasi lewat diterima tetapi belum terjejas:

KWSP 2011



LewatTerima


LewatTerima


LewatTerima


LewatTerima


Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 177,343,137 – – – – 177,343,137Aset Kewangan SediaDijual 11,892,888 – – – – 11,892,888Pinjaman, Pendahuluan DanPembiayaan 84,513,276 – – – – 84,513,276Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 793,342 – – – – 793,342Deposit Dengan Institusi KewanganDanBaki Bank 15,025,760 – – – – 15,025,760Lain-lain Aset Kewangan 7,614,821 – – – – 7,614,821

297,183,224 – – – – 297,183,224

KWSP 2010



LewatTerima


LewatTerima


LewatTerima


LewatTerima


Jumlah

(RM’000)Aset PelaburanDipegang SehinggaMatang 167,503,019 – – – – 167,503,019Aset Kewangan SediaDijual 9,748,485 – – – – 9,748,485Pinjaman, Pendahuluan DanPembiayaan 83,012,637 – – – – 83,012,637Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 158,000 – – – – 158,000Deposit Dengan Institusi KewanganDanBaki Bank 22,931,400 – – – – 22,931,400Lain-lain Aset Kewangan 4,640,134 – – – – 4,640,134

287,993,675 – – – – 287,993,675





c. Aset Kewangan Terdedah Kepada Risiko Kredit Disemak Secara Individu Sebagai TerjejasAnalisa ke atas aset kewangan yang disemak secara individu sebagai terjejas dan pergerakan ke ataselaun rugi terjejas untuk tahun semasa adalah sebagaimana berikut:

KUMPULAN 2011

ElaunSetakat

01 Januari

(RM’000)

Elaun BagiTahun

Semasa

(RM’000)

Pelarasan

(RM’000)

Amaun YangDiperolehi/

DicatatSemula

(RM’000)

AmaunHapus Kira

(RM’000)

ElaunSetakat

31 Disember

(RM’000)Aset PelaburanDipegang SehinggaMatang 438,362 – – (594) – 437,769Aset Kewangan SediaDijual 108,199 96,318 (20,075) (6,709) – 177,732Pinjaman, Pendahuluan DanPembiayaan 3,866,377 174,014 (17,526) (2,906) (1,328,133) 2,691,826Lain-lain Aset Kewangan 160,131 57,441 – – (5,303) 212,269

4,573,069 327,773 (37,601) (10,209) (1,333,436) 3,519,596

KUMPULAN 2010

ElaunSetakat

01 Januari

(RM’000)

Elaun BagiTahun

Semasa

(RM’000)

Pelarasan

(RM’000)


DicatatSemula

(RM’000)

AmaunHapus Kira

(RM’000)

ElaunSetakat

31 Disember

(RM’000)Aset PelaburanDipegang SehinggaMatang 99,874 350,000 (35) (11,477) – 438,362Aset Kewangan SediaDijual 67,371 42,252 (328) (1,096) – 108,199Pinjaman, Pendahuluan DanPembiayaan 4,003,928 110,818 – (8) (248,361) 3,866,377

4,171,173 503,070 (363) (12,581) (248,361) 4,412,938

KSWP 2011

ElaunSetakat

01 Januari

(RM’000)

ElaunTahun

Semasa

(RM’000)

Pelarasan

(RM’000)


DicatatSemula

(RM’000)

AmaunHapus Kira

(RM’000)

ElaunSetakat

31 Disember

(RM’000)Aset PelaburanDipegang SehinggaMatang 438,362 – – (594) – 437,769Aset Kewangan SediaDijual 108,199 96,318 (20,075) (6,709) – 177,732Pinjaman, Pendahuluan DanPembiayaan 75,274 – 9 (2,906) – 72,377Lain-lain Aset Kewangan – 9,543 – – – 9,543

621,835 105,861 (20,066) (10,209) – 697,421





c. Aset Kewangan Terdedah Kepada Risiko Kredit Disemak Secara Individu Sebagai Terjejas (Samb.)

KSWP 2010

ElaunSetakat

01 Januari

(RM’000)

ElaunTahun

Semasa

(RM’000)

Pelarasan

(RM’000)


DicatatSemula

(RM’000)

AmaunHapus Kira

(RM’000)

ElaunSetakat

31 Disember

(RM’000)Aset PelaburanDipegang SehinggaMatang 99,874 350,000 (35) (11,477) – 438,362Aset Kewangan SediaDijual 67,371 42,252 (328) (1,096) – 108,199Pinjaman, Pendahuluan DanPembiayaan 75,282 – – (8) – 75,274

242,527 392,252 (363) (12,581) – 621,835

d. Kesan Kewangan Kolateral Yang Dipegang Atas Aset Kewangan Yang Terdedah Kepada Risiko Kredit

Anggaran kesan kewangan kolateral yang dipegang atas aset kewangan kasar adalah sebagaimanaberikut:

KUMPULAN 2011

Baki NilaiDibawa Aset

KewanganSovereign

(RM’000)


KewanganBukan

Sovereign(RM’000)

KesanKewanganKolateral

(%) Aset KewanganAset PelaburanDipegang SehinggaMatang 124,847,803 52,787,457 14Aset Kewangan SediaDijual 440,779 11,611,254 –Pinjaman, PendahuluanDanPembiayaan 19,700,000 82,952,828 12Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi 793,342 – –Deposit Dengan Institusi KewanganDanBaki Bank 115,105 16,496,966 –Lain-lain Aset Kewangan – 8,243,399 –

145,897,029 172,091,903 10





d. Kesan Kewangan Kolateral Yang Dipegang Atas Aset Kewangan Yang Terdedah Kepada Risiko Kredit (Samb.)

KUMPULAN 2010


KewanganSovereign

(RM’000)


KewanganBukan

Sovereign(RM’000)


(%) Aset KewanganAset PelaburanDipegang SehinggaMatang 118,517,139 49,622,344 15Aset Kewangan SediaDijual – 9,872,026 –Pinjaman, PendahuluanDanPembiayaan 20,700,000 76,885,632 12Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi 65,090 92,910 –Deposit Dengan Institusi KewanganDanBaki Bank 48,762 24,096,208 –Lain-lain Aset Kewangan 4,872,898 –

139,330,991 165,442,018 10

Aset kewangan sovereign terdiri daripada Sekuriti Kerajaan Malaysia, Terbitan Pelaburan Kerajaan,Pinjaman terusKepadaKerajaanMalaysia dan deposit di BanknegaraMalaysia tanpa kolateral.

Anggarankesankewangankolateral yangdipegangatasasetkewangankasaradalahsebagaimanaberikut:

KWSP 2011


KewanganSovereign

(RM’000)


KewanganBukan

Sovereign(RM’000)


(%) Aset KewanganAset PelaburanDipegang SehinggaMatang 124,847,803 52,583,103 14Aset Kewangan SediaDijual 440,779 11,611,254 -Pinjaman, PendahuluanDanPembiayaan 19,700,000 64,887,373 2Aset KewanganPadanilai SaksamaMelalui PenyataUntung/Rugi 793,342 – –Deposit Dengan Institusi KewanganDanBaki Bank 115,105 14,910,655 –Lain-lain Aset Kewangan – 7,614,821 –

145,897,029 151,607,206 6





d. Kesan Kewangan Kolateral Yang Dipegang Atas Aset Kewangan Yang Terdedah Kepada Risiko Kredit (Samb.)

KWSP 2010


KewanganSovereign

(RM’000)


KewanganBukan

Sovereign(RM’000)


(%) Aset KewanganAset PelaburanDipegang SehinggaMatang 118,517,139 49,622,344 15Aset Kewangan SediaDijual – 9,872,026 –Pinjaman, PendahuluanDanPembiayaan 20,700,000 62,387,999 2Aset KewanganPadanilai SaksamaMelalui PenyataUntung/Rugi 65,090 92,910 –Deposit Dengan Institusi KewanganDanBaki Bank 48,759 22,882,638 –Lain-lain Aset Kewangan – 4,640,134 –

139,330,988 149,498,051 6

Aset kewangan sovereign terdiri daripada Sekuriti Kerajaan Malaysia, Terbitan Pelaburan Kerajaan,Pinjaman terusKepadaKerajaanMalaysia dan deposit di BanknegaraMalaysia tanpa kolateral.

41.2 Risiko Kecairan

Risiko kecairanmerujuk kepada ketidakmampuan KWSP untukmemenuhi komitmen kewangan dan obligasiapabila sampai tempoh. KWSP sentiasa mengekalkan tahap kecairan aset yang secukupnya dalam bentuktunaidandepositdengan institusikewanganbagimemenuhipengeluaranahlidankomitmenkewangansertaobligasi lain.

JadualdibawahmenunjukkanbutiranmengenailiabilitikewanganKumpulandanKWSPmengikutpengkelasankematanganyangrelevanberdasarkanbaki tempohtanggungansetakat tarikhPenyataKedudukanKewangansehingga tarikh luput kontrak. Sekiranya terdapat baki liabiliti kewangan derivatif yang dipegang untukdagangan, maka ia akan didedahkan berdasarkan jangkaan kematangan. Amaun yang ditunjukkan di dalamjadual adalah jumlah pembayaran balik tanggungan yang tidak didiskaunkan.




41.2 Risiko Kecairan

KUMPULAN 2011

BerdasarkanTuntutan

Atau DalamTempohSetahun(RM’000)

Satu HinggaLima Tahun

(RM’000)

MelebihiLima Tahun

(RM’000)

Jumlah

(RM’000)Liabiliti Kewangan

PinjamanDanOverdraf 424,407 736,094 1,160,501PemiutangPengeluaranCaruman 72,122 – – 72,122Deposit DanPendahuluan 12,609,217 1,261,982 65,457 13,936,656Lain-lain 1,053,867 2,110,288 40,220 3,204,375

14,159,613 4,108,364 105,677 18,373,654

KUMPULAN 2010

BerdasarkanTuntutan



(RM’000)

MelebihiLima Tahun

(RM’000)

Jumlah


PinjamanDanOverdraf 209,644 123,491 835,577 1,168,712PemiutangPengeluaranCaruman 75,936 – – 75,936Deposit DanPendahuluan 9,497,159 1,127,348 90,049 10,714,556Lain-lain 613,869 22,824 – 636,693

10,396,608 1,273,663 925,626 12,595,897

KWSP 2011

BerdasarkanTuntutan



(RM’000)

MelebihiLima Tahun

(RM’000)

Jumlah


PemiutangPengeluaranCaruman 72,122 – – 72,122Deposit DanPendahuluan 152,892 – – 152,892Lain-lain 595,049 – – 595,049

820,063 – – 820,063




41.2 Risiko Kecairan (Samb.)

KWSP 2010

BerdasarkanTuntutan



(RM’000)

MelebihiLima Tahun

(RM’000)

Jumlah


PemiutangPengeluaranCaruman 75,936 – – 75,936Deposit DanPendahuluan 140,839 – – 140,839Lain-lain 511,374 20,722 – 532,096

728,149 20,722 – 748,871

41.3 Risiko Pasaran

Risiko pasaran adalah risiko kerugian daripada perubahan dalam nilai portfolio dan instrumen kewangandisebabkan oleh pergerakan harga pasaran yang berkaitan dengan harga ekuiti, kadar faedah dan kadarpertukaranmatawang asing.

Objektifutamapengurusanrisikopasaranadalahuntukmemastikanagarkerugiandaripadarisikopasarandapatdikawal dengan segeradanpendedahanberisikomempunyai kecairan yangmencukupi bagimembolehkandanatersebutmengurangkanpendedahan tanpamenanggungkerugian yangmelebihi tahap risiko yangditerima.

KWSPmengguna pakai pendekatan berikut untukmenguruskan risiko pasaran:

i. Nilai berisiko (“VaR”)yangmerupakananggaranjumlahnilaipasaranyangbolehditanggungkerugiannyaoleh sesuatu portfolio dalam tempoh masa tertentu pada tahap kebarangkalian yang telah ditetapkan.SimulasiMonteCarlo digunakan untukmengira VaR bagimengukur tahap risiko portfolio.

ii. Tempoh masayangmerupakanukuranlinearrisikobagisesuatubonuntukmentakrifperatusankenaikan(ataupenurunan)terhadapnilaibontersebutbagikejatuhan(ataukenaikan)1%bagihasilyangdiperolehidaripada bon tersebut.

iii. TrackingError yangmerujuk kepada sisihan piawai bagi lebihan pulangan portfolio berbanding penandaaras.

iv. Analisis simulasi, termasuk ujian tekanan adalah satu lagi kaedah menguji risiko portfolio dalamkeadaan yang sukar. Ujian tekanan melibatkan penetapan parameter seperti korelasi, volatiliti danpulangan pada nilai-nilai yang berlainan danmenilai bagaimana risiko sesuatu portfolio akan berubah.

v. Pengukuran beta yang digunakan untuk mengukur sensitiviti harga sesuatu ekuiti berbanding penandaaras.




41.3 Risiko Pasaran (Samb.)

a. Risiko Harga

Risikohargaberpuncadaripadaduapendedahan,iaituekuitidomestikdanglobal.Bagimenguruskanrisikoharga yang disebabkan oleh pelaburan dalam instrumen ekuiti, KWSP telahmengenal pasti penanda arasyang boleh diterima pakai oleh pelbagai portfolio. Kemudian, berpandukan kepada penanda aras tersebut,had-had akanditetapkanuntukmemastikan risiko portfolio beradadi dalam risiko kawalanKWSP.

Polisi KWSP ialah untuk menguruskan risiko harga melalui kepelbagaian dan pemilihan sekuriti secaraberhemat supaya berada di dalam had tertentu yang telah ditetapkan oleh Jawatankuasa Risiko PanelPelaburandanPanelPelaburan.

Polisi KWSP memerlukan keseluruhan posisi pasaran dikawal pada basis harian dan dikaji semula padasetiap suku tahun oleh Jawatankuasa Risiko Panel Pelaburan. Pematuhan kepada polisi pelaburandilaporkankepadaPengurusan setiap bulan.

Jadual di bawah menunjukkan kesan secara keseluruhan ke atas kedudukan nilai dibawa instrumenekuiti setakat tarikh Penyata Kedudukan Kewangan sekiranya berlaku perubahan dalam harga pasaransaham. Analisa ini adalah berdasarkan andaian bahawa komponen indeks yang terangkum dalampenanda arasmeningkat/menurun sebanyak anjakanmunasabah yamgmungkin berlaku, di mana lain-lain variabel adalah konstan dan nilai saksama instrumen ekuiti bergerak berpandukan kepada korelasimasa lalu dengan indeks.

KUMPULAN DAN KWSP 2011

NilaiSaksama

(RM’000)

AnjakanMunasabah

YangMungkinBerlaku

KesanSensitiviti

Kepada BakiRizab AsetKewangan

Sedia DijualNaik/(Turun)

(RM’000)

KesanSensitiviti

KepadaPenyata

Pendapatan

Naik/(Turun)(RM’000)

IndeksInstrumen EkuitiSedia Dijual

FBM100 Ethical Domestik 103,806,799 +5% 5,117,250 –-5% (5,170,057) (4,753)

FTSEWorld Global 45,431,209 +10% 4,448,596 – Aggregate -10% (4,491,664) (14,915)

149,238,008





a. Risiko Harga (Samb.)

KUMPULAN DAN KWSP 2010

NilaiSaksama

(RM’000)

AnjakanMunasabah

YangMungkinBerlaku

KesanSensitiviti

Kepada BakiRizab AsetKewangan

Sedia DijualNaik/(Turun)

(RM’000)

KesanSensitiviti

KepadaPenyata

Pendapatan


IndeksInstrumen EkuitiSedia Dijual

FBM100 Ethical Domestik 102,972,988 +5% 5,143,251 –-5% (5,112,177) (52,637)

MSCIWorld Global 37,299,571 +10% 3,729,933 –-10% (3,725,663) (4,294)

140,272,559

Tiada kesan ketara ke atas instrumen ekuiti tidak tersiar harga terhadap pendedahan sensitiviti kepadarisiko harga.





b. Risiko Kadar Faedah

Kumpulan dan KWSP adalah terdedah kepada berbagai risiko yang berkait dengan kesan perubahan keatas kadar faedah pasaran bagi kedudukan kewangan dan aliran tunai. Jadual berikut menunjukkankadar faedah berkesan ke atas itemdi PenyataKedudukanKewangan:

KUMPULAN <---------------------- Buku Bukan Perdagangan ---------------------->

2011 Tempoh 1Bulan

>1 - 3Bulan

> 3 - 12Bulan

>1 - 5Tahun

Lebih5 Tahun

TidakSensitifFaedah

BukuPerdagangan

Jumlah KadarFaedah

Berkesan(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) %

ASETPelaburanDalamSyarikat Bersekutu 8,006,564 1,727,640 8,501,139 1,067,466 697,062 721,592 – 20,721,463 4.60-9.00Aset PelaburanDipegang SehinggaMatang 33,036 347,760 9,448,787 70,975,146 96,392,492 – – 177,197,491 2.51-8.50Aset Kewangan SediaDijual 151,079,132 10,038 135,206 7,562,885 4,364,144 – – 163,151,405 –Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 16,725 1,012 1,160,298 465,621 32,411 – 793,342 2,469,409 3.38-3.82Pinjaman, PendahuluanDan Pembiayaan 1,078,510 317,524 27,145,821 32,619,027 37,506,325 – 1,293,795 99,961,002 4.02-8.0Deposit Dengan Institusi Kewangan 11,953,094 – 1,966,787 2,078,550 113 – – 15,998,544 3.25-7.94Lain-lain Aset Yang Tidak Sensitif Faedah – – – – – – 16,471,848 16,471,848 –

Jumlah Aset 172,167,061 2,403,974 48,358,038 114,768,695 138,992,547 721,592 18,558,985 495,971,162

LIABILITIPinjamanDanOverdraf 134,548 31,563 126,220 1,745,597 – – – 2,037,928 3.45-5.50Deposit DanPendahuluan 6,584,511 3,287,339 2,510,773 1,102,078 26,647 188,288 – 13,699,636 3.27Lain-lain Liabiliti Yang Tidak Sensitif Faedah – – – – – 1,222,457 – 1,222,457 –

Jumlah Liabiliti 6,719,059 3,318,902 2,636,993 2,847,675 26,647 1,410,745 – 16,960,021

CarumanAhli – – – – – 445,938,912 – 445,938,912 –Lain-lainDana – – – – – 32,166,369 – 32,166,369 –KepentinganMinoriti – – – – – 905,860 – 905,860 –

Jumlah Liabiliti Dan Ekuiti 6,719,059 3,318,902 2,636,993 2,847,675 26,647 480,421,886 – 495,971,162

DalamPenyataKedudukan Kewangan Faedah Jurang Sensitif 165,431,482 (2,642,568) 45,721,045 111,921,290 138,965,900 (478,005,962) 18,558,985 – –

Jumlah Jurang Faedah Sensitif 165,431,482 (2,642,568) 45,721,045 111,921,290 138,965,900 (478,005,962) 18,558,985 –





b. Risiko Kadar Faedah (Samb.)

KUMPULAN <---------------------- Buku Bukan Perdagangan ---------------------->

2010 Tempoh 1Bulan

>1 - 3Bulan

> 3 - 12Bulan

>1 - 5Tahun

Lebih5 Tahun

TidakSensitifFaedah

BukuPerdagangan

Jumlah KadarFaedah


ASETPelaburanDalamSyarikat Bersekutu – – – 804,975 711,325 9,812,367 – 11,328,667 9.00Aset PelaburanDipegang SehinggaMatang 305,843 440,628 10,452,592 75,301,782 81,200,276 – – 167,701,121 1.78-16.00Aset Kewangan SediaDijual 1,583,400 70,381 462,316 3,911,466 3,620,386 141,930,790 – 151,578,739 2.10-21.33Aset KewanganPadanilai SaksamaMelalui PenyataUntung/Rugi – – – – – 881,888 65,090 946,978 –Pinjaman, Pendahuluan DanPembiayaan 604,585 655,908 4,323,731 48,935,410 37,396,462 1,803,159 – 93,719,255 3.61-7.80Deposit Dengan Institusi Kewangan 17,635,976 4,060,509 1,833,693 203,809 – – – 23,733,987 0.07-5.10Lain-lain Aset Yang Tidak Sensitif Faedah – – – – – 10,064,709 – 10,064,709 –

Jumlah Aset 20,129,804 5,227,426 17,072,332 129,157,442 122,928,449 164,492,913 65,090 459,073,456

LIABILITIPinjamanDanOverdraf 211,345 11,319 72,135 873,913 – – – 1,168,712 –Deposit DanPendahuluan 4,238,267 3,273,997 1,844,132 1,127,347 – 140,764 – 10,624,507 –Lain-lain Liabiliti Yang Tidak Sensitif Faedah – – – – – 1,045,740 – 1,045,740 –

Jumlah Liabiliti 4,449,612 3,285,316 1,916,267 2,001,260 – 1,186,504 – 12,838,959

CarumanAhli – – – – – 407,565,535 – 407,565,535 –Lain-lainDana – – – – – 38,010,206 – 38,010,206 –KepentinganMinoriti – – – – – 658,756 – 658,756 –

Jumlah Liabiliti Dan Ekuiti 4,449,612 3,285,316 1,916,267 2,001,260 – 447,421,001 – 459,073,456

DalamPenyataKedudukan Kewangan Faedah Jurang Sensitif 15,680,192 1,942,110 15,156,065 127,156,182 122,928,449 (282,928,088) 65,090 – –

Jumlah Jurang Faedah Sensitif 15,680,192 1,942,110 15,156,065 127,156,182 122,928,449 (282,928,088) 65,090 –






KWSP <---------------------- Buku Bukan Perdagangan ---------------------->

2011 Tempoh 1Bulan

>1 - 3Bulan

> 3 - 12Bulan

>1 - 5Tahun

Lebih5 Tahun

TidakSensitifFaedah

BukuPerdagangan

Jumlah KadarFaedah


ASETPelaburanDalamSyarikat Subsidiari 7,048,136 – 748,135 – 450,000 – – 8,246,271 –PelaburanDalamSyarikat Bersekutu 8,006,564 – 8,501,139 1,067,466 697,062 – – 18,272,231 9.00Aset PelaburanDipegang SehinggaMatang 33,036 347,760 9,448,787 70,975,416 96,188,138 – – 176,993,137 1.78–16.00Aset Kewangan SediaDijual 151,079,132 10,038 135,206 7,562,885 4,313,073 – – 163,100,334 2.10–21.33Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi 16,725 1,012 406,636 465,621 32,411 – 793,342 1,715,747 –Pinjaman, PendahuluanDan Pembiayaan 603,546 263,729 26,924,141 32,330,393 24,393,187 – – 84,514,996 3.61–7.80Deposit Dengan Institusi Kewangan 10,770,282 – 1,966,541 2,050,000 – – – 14,786,823 0.07–5.10Lain-lain Aset Yang Tidak Sensitif Faedah – – – – – 9,875,622 – 9,875,622 –

Jumlah Aset 177,557,421 622,539 48,130,585 114,451,781 126,073,871 9,875,622 793,342 477,505,161

LIABILITILain-lain Liabiliti Yang Tidak Sensitif Faedah – – – – – 979,096 – 979,096 –

Jumlah Liabiliti – – – – – 979,096 – 979,096

CarumanAhli – – – – – 445,938,912 – 445,938,912 –Lain-lainDana – – – – – 30,587,153 – 30,587,153 –

Jumlah Liabiliti Dan Ekuiti – – – – – 477,505,161 – 477,505,161

DalamPenyataKedudukan Kewangan Faedah Jurang Sensitif 177,557,421 622,539 48,130,585 114,451,781 126,073,871 (467,629,539) 793,342 – –

Jumlah Jurang Faedah Sensitif 177,557,421 622,539 48,130,585 114,451,781 126,073,871 (467,629,539) 793,342 –






KWSP <---------------------- Buku Bukan Perdagangan ---------------------->

2010 Tempoh 1Bulan

>1 - 3Bulan

> 3 - 12Bulan

>1 - 5Tahun

Lebih5 Tahun

TidakSensitifFaedah

BukuPerdagangan

Jumlah KadarFaedah


ASETPelaburanDalamSyarikat Subsidiari – – – – 535,291 2,830,202 – 3,365,493 –PelaburanDalamSyarikat Bersekutu – – – 804,975 711,325 8,161,859 – 9,678,159 9.00Aset PelaburanDipegang SehinggaMatang 305,843 440,628 10,452,592 75,301,782 81,200,276 – – 167,701,121 1.78–16.00Aset Kewangan SediaDijual 1,583,400 70,381 462,316 3,911,466 3,620,386 141,930,790 – 151,578,739 2.10–21.33Aset KewanganPadanilai SaksamaMelalui Penyata Untung/Rugi – – – – – 607,856 65,090 672,946 –Pinjaman, Pendahuluan DanPembiayaan 601,472 655,569 4,319,613 48,785,833 28,650,238 – – 83,012,725 3.61–7.80Deposit Dengan Institusi Kewangan 16,855,525 4,010,000 1,800,000 – – – – 22,665,525 0.07–5.10Lain-lain Aset Yang Tidak Sensitif Faedah – – – – – 7,173,471 – 7,173,471 –

Jumlah Aset 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 160,704,178 65,090 445,848,179

LIABILITILain-lain Liabiliti Yang Tidak Sensitif Faedah – – – – – 888,673 – 888,673 –

Jumlah Liabiliti – – – – – 888,673 – 888,673

CarumanAhli – – – – – 407,565,535 – 407,565,535 –Lain-lainDana – – – – – 37,393,971 – 37,393,971 –

Jumlah Liabiliti Dan Ekuiti – – – – – 445,848,179 – 445,848,179

DalamPenyataKedudukan Kewangan Faedah Jurang Sensitif 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 (285,144,001) 65,090 – –

Jumlah Jurang Faedah Sensitif 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 (285,144,001) 65,090 –






Risiko kadar faedah adalah disebabkan pelaburan dalam instrumen kadar faedah terapung yangdiklasifikasikansebagaipinjamandanpenghutangsertainstrumenkadarfaedahtetapyangdiklasifikasikansebagai sedia untuk dijual dan nilai saksamamelalui untung rugi.

Andaian aliran tunai serta kesan terhadap turun naik kadar faedah adalah dikawal dan dikaji semulasecara berterusan. Objektif keseluruhan untuk strategi ini adalah untukmenghadkan perubahan bersihdi dalamnilai aset dan jangkaan pendapatan yang disebabkan oleh pergerakan kadar faedah.

Jadual di bawah menunjukkan butiran mengenai kesan ke atas pendapatan faedah daripada instrumenpelaburanberpendapatan tetapsetakatPenyataKedudukanKewanganseandainyakadar faedahberubahsebanyak 100mata asas:

2011

KUMPULAN Kesan Ke AtasPenyata Pendapatan

Apabila Kadar FaedahBerubah ±100 Mata Asas


Kesan Ke Atas Baki RizabAset Kewangan Sedia Dijual



+100bps -100bps +100bps -100bps

InstrumenPelaburanBerpendapatan Tetap 148,192 (135,343) (356,610) 788,627

2010

KUMPULAN Kesan Ke AtasPenyata Pendapatan






+100bps -100bps +100bps -100bps







2011

KWSP Kesan Ke AtasPenyata Pendapatan






+100bps -100bps +100bps -100bps


2010

KWSP Kesan Ke AtasPenyata Pendapatan






+100bps -100bps +100bps -100bps


c. Risiko Kadar Pertukaran Mata Wang Asing

KWSP beroperasi secara global dan terdedah kepada risiko kadar pertukaran mata wang asing yangdisebabkan oleh pendedahan kepada pelbagai mata wang selain Ringgit Malaysia sebagai mata wangfungsian.

KWSPmembuat pelaburan di luar negara dan dengan itu terdedah kepada risiko tukaranwang asing.

Pelaburan dalam sukuk global yang diurus secara dalaman dan ekuiti global dilakukan dalamkepelbagaian mata wang bagi mengurangkan kesan risiko tukaran wang asing. Bagi portfolio sukukglobal yang diuruskan oleh pengurus dana luar dan pelaburan dalam harta tanah luar negara pula,pendedahannyadilindungnilaipadasuatu tahapdimananilainya tidak terancamolehperubahannegatifdi dalamkadar tukaranwang asing. Pendedahan lain akan dilindung nilai apabila diperlukan.





c. Risiko Kadar Pertukaran Mata Wang Asing (Samb.)

JadualdibawahmenunjukkanbutirannilaidibawapelaburanglobalKumpulandanKWSPmengikutmatawang setakat tarikhPenyataKedudukanKewangan:

KUMPULAN DAN KWSP 2011 2010

PelaburanGlobal

PelaburanGlobal

(RM’000) % (RM’000) %Mata Wang:

Dolar Amerika 15,897,572 27 10,304,326 25Pound Sterling 10,399,461 18 3,912,489 10Dolar Singapura 7,747,084 13 7,005,533 17DolarHongKong 4,486,621 8 3,124,959 8Rupiah Indonesia 4,052,685 7 2,360,830 5Thai Baht 3,326,918 6 2,500,335 6WonKorea Selatan 2,952,512 5 3,093,271 8Yen Jepun 2,950,651 5 2,460,109 6Lain-lain 6,635,703 11 6,263,515 15

58,449,207 100 41,025,367 100

Tiada kesan ketara ke atas instrumen pelaburan global terhadap pendedahaan sensitiviti kepada risikokadar pertukaranmatawang asing.

41.4 Nilai Saksama Instrumen Kewangan

nilaisaksama ialahsatuamaundimanasuatuasetbolehditukarganti,atausuatu tanggungandiselesaikan,diantara pihak-pihak yangberpengetahuandengan sukarelamemasuki transaksi secara telus.

Sebagaimana piawaian perakaunan FRS 7: Financial instruments–Disclosures, pendedahan maklumatmemerlukan suatu entiti menentukan instrumen kewangan yang dipegang pada nilai saksama berdasarkanhierarki kepentingan input pasaran yang boleh diperhatikan.

Hierarki Nilai Saksama

i. Tahap 1 Nilai Sebutan Pasaran–Instrumen kewangan adalah diklasifikasikan sebagai Tahap 1 jikanilainyadapatdiperhatikandidalampasaranaktif.Instrumenberkenaandinilaidenganmerujukkepadahargayangdisebutpadaasetatauliabilitiyangsamadansediaadadalampasaranaktif.

ii. Tahap 2 Teknik Penilaian Menggunakan Input Yang Dapat Diperhatikan–Instrumen kewanganyangdiklasifikasikansebagaiTahap2telahdinilaimenggunakanmodeldimanainputnyabolehdiperhatikandidalampasaranaktif.Penilaianberdasarkaninputyangbolehdiperhatikantermasuklahinstrumen kewangan seperti sekuriti berpendapatan tetap.

iii. Tahap 3 Teknik Penilaian Menggunakan Input Utama Yang Tidak Dapat Diperhatikan–InstrumenkewangandiklasifikasikansebagaiTahap3jikapenilaiannyamemasukkaninputpentingyangtidakberdasarkan data pasaran yang dapat diperhatikan. Input berkenaan, pada amnya, ditentukanberdasarkan input yang dapat diperhatikan pada instrumen yangmempunyai sifat yang sama,pemerhatian terhadap input terdahulu ataumenggunakan teknik analisa yang lain.




41.4 Nilai Saksama Instrumen Kewangan (Samb.)

(a) Jadual di bawahmerupakan instrumen kewangan kasar yang dinyatakan pada nilai saksama:

KUMPULAN 2011

Pengkelasan Teknik Penilaian

Tahap 1Nilai

SebutanPasaran

(RM’000)

Tahap 2Menggunakan

InputYang Dapat

Diperhatikan

(RM’000)

Tahap 3Menggunakan

Input UtamaYang Tidak

DapatDiperhatikan

(RM’000)

Jumlah

(RM’000)AsetAset Kewangan SediaDijual 149,227,593 12,052,032 2,049,511 163,329,136Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi – 793,342 1,219,283 2,012,625Aset KewanganDerivatif 417,569 39,215 – 456,784

LiabilitiLiabiliti Derivatif – (47,400) – (47,400)

149,645,162 12,837,189 3,268,794 165,751,145

KWSP 2011

Pengkelasan Teknik Penilaian

Tahap 1Nilai

SebutanPasaran

(RM’000)

Tahap 2Menggunakan

InputYang Dapat

Diperhatikan

(RM’000)

Tahap 3Menggunakan

Input UtamaYang Tidak

DapatDiperhatikan

(RM’000)

Jumlah

(RM’000)AsetAset Kewangan SediaDijual 149,227,593 12,052,032 1,998,440 163,278,065Aset KewanganPadanilai Saksama Melalui PenyataUntung/Rugi – 793,342 465,621 1,258,963Aset KewanganDerivatif 417,569 39,215 – 456,784

LiabilitiLiabiliti Derivatif – (47,400) – (47,400)

149,645,162 12,837,189 2,464,061 164,946,412




41.4 Nilai Saksama Instrumen Kewangan (Samb.)

(b) Berikut merupakan penyesuaian pergerakan di antara baki pembuka dan baki penutup bagi instrumenkewangan yang dinyatakan pada nilai saksama Tahap 3:

KUMPULAN 2011

Aset Kewangan Yang Dinyatakan Pada Nilai Saksama


(RM’000)

Aset Kewangan PadaNilai Saksama MelaluiPenyata Untung/Rugi

(RM’000)

Baki Pada 01 Januari 1,542,353 699,273

Keuntungan/(Kerugian) YangDiiktiraf DalamPenyata Pendapatan (89,851) 189,236

Keuntungan/(Kerugian) YangDiiktiraf DalamLain-lain Pendapatan Komprehensif 322,837 –

Pembelian 444,683 410,901

Penjualan (180,926) (80,127)

PindahanKepada Tahap 3 10,415 –

Baki Pada 31 Disember 2,049,511 1,219,283

KWSP 2011

Aset Kewangan Yang Dinyatakan Pada Nilai Saksama


(RM’000)

Aset Kewangan PadaNilai Saksama MelaluiPenyata Untung/Rugi

(RM’000)

Baki Pada 01 Januari 1,542,353 415,552

Keuntungan/(Kerugian) YangDiiktiraf DalamPenyata Pendapatan (89,850) 50,069

Keuntungan/(Kerugian) YangDiiktiraf DalamLain-lain Pendapatan Komprehensif 161,887 –

Pembelian 554,561 –

Penjualan (180,926) –

PindahanKepada Tahap 3 10,415 –

Baki Pada 31 Disember 1,998,440 465,621



42. TRANSAKSI ENTITI BERKAITAN

a. Entiti-entiti Berkaitan Dan Hubungan

Entiti-entiti berkaitan dan hubunganmereka denganKWSP adalah seperti berikut:

Entiti Terlibat Hubungan

MalaysiaBuilding SocietyBerhad Syarikat SubsidiariYTRHarta SdnBhd Syarikat SubsidiariAffordableHomes SdnBhd Syarikat SubsidiariPPnK-Harta SdnBhd Syarikat SubsidiariKwasaProperties SdnBhd Syarikat SubsidiariRashidHussainBerhad Syarikat SubsidiariKwasa Land SdnBhd Syarikat SubsidiariKWASAGlobal (Jersey) Limited Syarikat SubsidiariCengal Private Equity Investments (Plc) Syarikat SubsidiariJati Private Equity Fund LP Syarikat SubsidiariMerbau InvestorsOffshore LP Syarikat SubsidiariKwasa Singapore (Solo) Pte Ltd Syarikat SubsidiariKwasa Singapore (Duo) Pte Ltd Syarikat SubsidiariKwasa Singapore (Trio) Pte Ltd Syarikat Subsidiari

PancaPesona SdnBhd SyarikatBersekutuMalaysianResourcesCorporationBhd SyarikatBersekutuBandar Eco-Setia SdnBhd SyarikatBersekutuIskandar InvestmentBerhad SyarikatBersekutuHSBCAmanah Takaful (M) SdnBhd SyarikatBersekutuRHBCapital Berhad SyarikatBersekutuSunway SouthQuay SdnBhd SyarikatBersekutuMalakoff CorporationBerhad SyarikatBersekutuColumbia Asia SdnBhd SyarikatBersekutunusaGapurnaDevelopment SdnBhd SyarikatBersekutuPLUSMalaysia SdnBhd SyarikatBersekutu

Syarikat Subsidiari Dan SyarikatBersekutu Anak syarikat kepada syarikat subsidiari dan bersekutusepertidiatasadalahsebahagiandaripadasyarikatsubsidiaridan bersekutuKWSP, seperti dinota 44 dan 45.

Pengurusan Tertinggi Pengurusan Tertinggi merupakan semua Lembaga PengarahdanPengurusan Tertinggi KWSP.

PihakBerkaitanDenganPengurusan Tertinggi i. Keluarga terdekat dan tanggunganPengurusanTertinggi.

ii. Entiti di mana Pengurusan Tertinggi dan keluargaterdekatmempunyai hakmengundi yang signifikan.



42. TRANSAKSI ENTITI BERKAITAN (SAMB.)

b. Transaksi Dan Baki Signifikan Entiti Berkaitan

KWSP

Subsidiari Bersekutu Ahli Pengurusan Tertinggi

2011 2010 2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

Pada 31 DisemberPendapatan

FaedahAtasPinjaman 12,726 875 – – – –Pendapatan Sewa 283 276 – – – –YuranPengurusan – 1 – – – –Lain-lain Pendapatan BukanOperasi 453,333 48,085 – – – –

466,342 49,237 – – – –

Amaun Terhutang Daripada Entiti Berkaitan

Pinjaman, Pendahuluan DanPembiayaan 1,198,136 535,291 8,457,811 – – –Sekuriti Hutang Persendirian – – 1,764,528 1,516,300 – –

1,198,136 535,291 10,222,339 1,516,300 – –

Amaun Terhutang Kepada Entiti Berkaitan

Lain-lain Liabiliti 97 5 – – – –CarumanKWSP* – – – – 47,531 31,793

97 5 – – 47,531 31,793

* CarumanKWSP adalah bagi ahli Pengurusan Tertinggi yangmempunyai baki yang signifikan.

Ahli Pengurusan Tertinggi

HonorariumAhliLembagaPengarah,PanelPelaburandan lain-lainahliPengurusanTertinggiadalahsepertiberikut:

KUMPULAN KWSP

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Manfaat Pekerja JangkaPendek: Yuran/Honorarium 1,105 1,514 1,105 923 Gaji Dan Lain-lain Emolumen 5,220 4,475 3,646 3,743 Manfaat Setara 4,532 3,140 248 131 SkimPilihan SahamPekerja 819 769 – –

11,676 9,898 4,999 4,797



43. PENYEWAAN OPERASI

43.1 Kumpulan Dan KWSP Sebagai Penyewa

KumpulandanKWSPtelahmenyewabeberapapremisdibawahpajakanoperasi.Penyewaan inidilaksanakanbagi tempoh permulaan tiga tahun, dengan pilihan untuk menyambung semula penyewaan. Tiada di antarapenyewaan ini melibatkan penyewaan luar jangka. Jumlah bayaran penyewaan minimum masa hadapan dibawah pajakan operasi yang tidak dibatalkan adalah seperti berikut:

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Tempoh 1 Tahun 13,333 13,584Antara 1Hingga 5 Tahun 19,813 12,383

33,146 25,967

43.2 Kumpulan Dan KWSP Sebagai Pemberi Sewa

KumpulandanKWSP telahmenyewakanharta tanahpelaburandi bawahpajakanoperasi dengan termaataspajakan dalam lingkungan tiga hingga lima tahun. Tiada di antara penyewaan inimelibatkan penyewaan luarjangka. Jumlah bayaran penyewaanminimummasa hadapan di bawah pajakan operasi yang tidak dibatalkanadalah seperti berikut:

KUMPULAN DAN KWSP

2011 2010(RM’000) (RM’000)

Tempoh 1 Tahun 139,515 112,399Antara 1Hingga 5 Tahun 399,499 417,361

539,014 529,760



44. SENARAI SYARIKAT SUBSIDIARI SETAKAT 31 DISEMBER 2011

a. Butir-butir syarikat subsidiari adalah seperti berikut:

Nama Syarikat NegaraDiperbadankan

KepentinganBerkesan Kegiatan Utama

2011 2010% %

Syarikat Subsidiari Langsung–KWSP

MalaysiaBuilding SocietyBerhad Malaysia 65.50 66.43 Memberi pinjaman atas jaminan harta tanah bebas dan hartatanah pajakan.

RashidHussainBerhad Malaysia 98.33 98.33 Syarikat pemegangan pelaburan.

YTRHarta SdnBhd Malaysia 81 81 Pembangunan harta tanah.

AffordableHomes SdnBhd Malaysia 100 100 Pembangunan harta tanah.

PPnK –Harta SdnBhd Malaysia 85 85 Pembangunan dan pengurusan harta tanah.

KwasaProperties SdnBhd Malaysia 100 100 Pelaburan harta tanah.

Kwasa Land SdnBhd Malaysia 100 100 Pelaburan harta tanah.

KWASAGlobal (Jersey) Limited Channel Islands Britain

100 100 Syarikat pemegang pelaburan.

Cengal Private Equity Investments (Plc)

Dublin, Ireland 99.50 99.50 Tabung pemegang pelaburan.

Jati Private Equity Fund LP USA 99 99 Tabung pemegang pelaburan.

Merbau InvestorsOffshore LP USA 99.50 99.50 Tabung pemegang pelaburan.

Kwasa Singapore (Solo) Pte Ltd Singapura 100 – Pelaburan harta tanah.

Kwasa Singapore (Duo) Pte Ltd Singapura 100 – Pelaburan harta tanah.

Kwasa Singapore (Trio) Pte Ltd Singapura 100 – Pelaburan harta tanah.

Syarikat Subsidiari Dipegang Oleh Malaysia Building Society Berhad

MBSBProperties SdnBhd Malaysia 100 100 Penyewaan harta tanah.

MBSBDevelopment SdnBhd Malaysia 100 100 Pembangunan harta tanah.

Prudent Legacy SdnBhd Malaysia 92 92 Pembangunan harta tanah.

Sigmaprise SdnBhd Malaysia 100 100 Operasi perhotelan.

Gadini SdnBhd Malaysia 100 100 Pembangunan harta tanah.

Ganesha SdnBhd Malaysia 100 100 Pembangunan harta tanah.

Springtide SdnBhd Malaysia 100 100 Pembangunan harta tanah.

Trimonds SdnBhd Malaysia 100 100 Pegangan pelaburan.

MBSBProjectManagement SdnBhd Malaysia 100 100 Operasi ditamatkan.

Definite Pure SdnBhd Malaysia 100 100 Dorman.

MalayaBorneoBuilding Society Limited (MBBS)

Singapura 100 100 Dorman.

Farawide SdnBhd Malaysia 100 100 Operasi perhotelan.

Raynergy SdnBhd Malaysia 100 100 Dorman.

IdamanUsahamas SdnBhd Malaysia 100 100 Dorman.

OmbakPesaka SdnBhd Malaysia 100 – Operasi perhotelan.



44. SENARAI SYARIKAT SUBSIDIARI SETAKAT 31 DISEMBER 2011 (SAMB.)

a. Butir-butir syarikat subsidiari adalah seperti berikut (Samb.):

Nama Syarikat Negara Diperbadankan


2011 2010% %

Syarikat Subsidiari Dipegang Oleh KWASA Global (Jersey) Limited

KWSP–KWAP (Jersey) Limited Channel Islands Britain

100 100 Pelaburan harta tanah.

Syarikat Subsidiari Dipegang Oleh KWSP–KWAP (Jersey) LimitedWhitefriars Limited Channel Islands

Britain100 100 Pelaburan harta tanah.

PortmanSquare (no. 1) Limited Channel Islands Britain


One Sheldon Square Limited Channel Islands Britain


PortmanSquare (no. 2) Limited Channel Islands Britain


# Syarikat di atas sedang dalamproses penggulungan oleh syarikat pembubar setakat 31Disember 2011.

45. SENARAI SYARIKAT BERSEKUTU SETAKAT 31 DISEMBER 2011

a. Butir-butir syarikat bersekutu adalah seperti berikut:



2011 2010% %

Syarikat Bersekutu Langsung–KWSP

PancaPesona SdnBhd Malaysia 30 30 Pemaju projek industri dan perumahan.

MalaysianResources CorporationBhd

Malaysia 42.21 41.58 Syarikat pemegangan pelaburan sertamenjalankan aktiviti berkaitan pembinaan, perkhidmatan pembangunanharta tanah dan pengurusankepada syarikat subsidiarinya.

Bandar Eco – Setia SdnBhd Malaysia 34 34 Mengendalikan pembangunan harta tanah.

Iskandar InvestmentBerhad Malaysia 20 20 Pembangunan ke atasWilayah Pembangunan Iskandar.

HSBCAmanah Takaful (M) SdnBhd Malaysia 20 20 Insuran.

RHBCapital Berhad Malaysia 44.99 45 Perbankan.

Sunway SouthQuay SdnBhd Malaysia 20 20 Pembangunan harta tanah.





2011 2010% %

Syarikat Bersekutu Langsung–KWSP (Samb.)

Malakoff CorporationBerhad Malaysia 30 30 Pegangan pelaburan dan perkhidmatan pengurusan.

Columbia Asia SdnBhd Malaysia 29.72 29.72 Hospital.

nusaGapurnaDevelopment SdnBhd

Malaysia 40 – Pegangan pelaburan dan pembangunan.

PLUSMalaysia SdnBhd Malaysia 49 – Infrastruktur dan utiliti.

Syarikat Subsidiari Dipegang Oleh RHB Capital Berhad

RHBBankBerhad Malaysia 100 100 Perbankan perdagangan.

RHB InvestmentBankBerhad Malaysia 100 100 Perbankan pelaburan.

RHB InsuranceBerhad Malaysia 94.70 94.70 Insuran am.

Straits AssetHoldings SdnBhd Malaysia 100 100 Pegangan pelaburan.

RHBHartanah SdnBhd Malaysia 100 100 Pelaburan harta tanah.

RHBEquities SdnBhd Malaysia 100 100 Perkhidmatan berkaitan ekuiti.

RHBCapital (Jersey) Limited Channel Islands Britain

100 100 Pegangan pelaburan.

RHBKawal SdnBhd Malaysia 100 100 Perkhidmatan keselamatan.

RHBFSdnBhd Malaysia 100 100 Dorman.

RHB VentureCapital SdnBhd Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh RHB Bank Berhad

RHB IslamicBankBerhad Malaysia 100 100 Perbankan Islam.

RHBBank (L) Ltd Malaysia 100 100 Perbankan luar pesisir.

RHBCapitalnominees (Tempatan) SdnBhd

Malaysia 100 100 Perkhidmatan penamaan bagi pemegang sahamMalaysia.

RHB Investment Ltd Singapura 100 100 Pelaburan harta tanah dan sewa.

BanforaPte Ltd Singapura 100 100 Pelaburan harta tanah dan sewa.

RHBBanknomineesPte Ltd Singapura 100 100 Perkhidmatan penamaan bagi pemegang sahamasing.

RHBLeasing SdnBhd Malaysia 100 100 Pajakan.

RHB Trade Services Limited HongKong 100 100 Pemprosesan ke atas surat kredit dikeluarkan untukwaris HongKong.

45. SENARAI SYARIKAT BERSEKUTU SETAKAT 31 DISEMBER 2011 (SAMB.)

a. Butir-butir syarikat bersekutu adalah seperti berikut (Samb.):





2011 2010% %

Syarikat Subsidiari Dipegang Oleh RHB Bank Berhad (Samb.)

RHBCapital Properties SdnBhd Malaysia 100 100 Pelaburan harta tanah.

UtamaAssets SdnBhd Malaysia 100 100 Pelaburan harta tanah.

UMBCSdnBhd Malaysia 100 100 Dorman.

RHBDelta SdnBhd Malaysia 100 100 Dorman.

UtamaGilang SdnBhd Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh RHB Bank (L) Ltd

RHB International Trust (L) Ltd Malaysia 100 100 Syarikat amanah luar pesisir.

Syarikat Subsidiari Dipegang Oleh RHB International Trust (L) Ltd

RHBCorporate Services SdnBhd Malaysia 100 100 Perkhidmatan kesetiausahaan korporat.

Syarikat Subsidiari Dipegang Oleh RHB Capital Nominees (Tempatan) Sdn Bhd

RHBCapitalnominees (Asing) SdnBhd

Malaysia 100 100 Perkhidmatan penamaan bagi pemegang sahamwaris asing.

Syarikat Subsidiari Dipegang Oleh RHB Investment Bank Berhad

RHBMerchantnominees (Tempatan) SdnBhd

Malaysia 100 100 Perkhidmatan penamaan bagi pemegang sahamwarisMalaysia.

RHBMerchantnominees (Asing) SdnBhd

Malaysia 100 100 Perkhidmatan penamaan bagi pemegang sahamwaris asing.

RHBnominees SdnBhd Malaysia 100 100 Penamaan dan perkhidmatan kustodian.

RHBnominees (Asing) SdnBhd Malaysia 100 100 Perkhidmatan penamaan dan kustodian bagi pemegangsahamwaris asing.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh RHB Investment Bank Berhad (Samb.)

RHBnominees (Tempatan) SdnBhd Malaysia 100 100 Perkhidmatan penamaan dan kustodian bagi pemegangsahamwarisMalaysia.

RHB InvestmentManagement SdnBhd

Malaysia 100 100 Perkhidmatan pengurusan harta dan unit amanah.

RHBResearch Institute SdnBhd Malaysia 100 100 Perkhidmatan penyelidikan.

RHBPrivate EquityHoldings SdnBhd

Malaysia 100 100 Pegangan pelaburan.

RHBExcel SdnBhd Malaysia 100 100 Dorman.

RHBProgressive SdnBhd Malaysia 100 100 Dorman.

RHBMarketing Services SdnBhd Malaysia 100 100 Dorman.

RHBUnit TrustManagementBerhad Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh RHB Investment Management Sdn Bhd

RHB Islamic AssetManagement SdnBhd

Malaysia 100 100 Perkhidmatan pengurusan aset islamik dan pengurusan dana unit amanah islamik.

Syarikat Subsidiari Dipegang Oleh RHB Private Equity Holdings Sdn Bhd

RHBPrivate EquityManagement Ltd Malaysia 100 100 Penasihat pelaburan, konsultan pelaburan dan lain-lain perkhidmatan berkaitan dana persendirian.

RHBPrivate Equity Fund Ltd Cayman Islands Britain

100 100 Syarikat pelaburan.

Syarikat Subsidiari Dipegang Oleh Straits Asset Holdings Sdn Bhd

SSSBServices (Melaka) SdnBhd Malaysia 100 100 Dorman.

SFSBServices (Melaka) SdnBhd Malaysia 100 100 Dorman.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh RHB Hartanah Sdn Bhd

Positive Properties SdnBhd Malaysia 100 100 Pelaburan harta tanah.

RHBPropertyManagement SdnBhd Malaysia 100 100 Pelaburan harta tanah.

Syarikat Subsidiari Dipegang Oleh RHB Equities Sdn Bhd

KYBSdnBhd Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh RHB Capital (Jersey) Limited

RashidHussain Securities (Philipines) Inc.

Filipina 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh RHBF Sdn Bhd

KYFSdnBhd Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh Malaysian Resources Corporation Berhad

CosyBonanza SdnBhd Malaysia 65.70 65.70 Pembangunan harta tanah.

ExcellenceBonanza SdnBhd Malaysia 60 60 Pembangunan harta tanah.

Kuala Lumpur Sentral SdnBhd Malaysia 74 64.38 Pembangunan harta tanah.

KonsortiumKOP-HG-MRCB ISOPLAS

Belum Diperbadankan

100 100 Reka dan bina talian transmisi dan sub-stesyen.

LandasUtamaSdnBhd Malaysia 100 100 Pegangan pelaburan.

MRCBUtamaSdnBhd Malaysia 100 100 Pembangunan harta tanah.

Country Annexe SdnBhd Malaysia 70 100 Pembangunan harta tanah.

MRCBSentral Properties SdnBhd Malaysia 100 100 Pembangunan harta tanah.

59inCSdnBhd Malaysia 100 – Pembangunan dan pelaburan harta tanah.

TTSB-SPKConsortium Belum Diperbadankan

100 50 Reka dan bina talian transmisi dan sub-stesyen.

MRCBEngineering SdnBhd Malaysia 100 100 Perkhidmatan kejuruteraan dan pembinaan.

MRCBEnvironmental Services SdnBhd








2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malaysian Resources Corporation Berhad (Samb.)

MRCBPrasarana SdnBhd Malaysia 100 100 Pengurusan projek dan pegangan pelaburan.

MRCBTechnologies SdnBhd Malaysia 100 100 Perkhidmatan teknologimaklumat dan perkhidmatan profesional luar.

MalaysianResourcesDevelopment SdnBhd

Malaysia 100 100 Pembangunan harta tanah dan pegangan pelaburan.

MalaysianResources Sentral SdnBhd

Malaysia 100 100 Penyediaan pengurusan kemudahan.

Milmix SdnBhd Malaysia 100 100 Kontraktor awamdan infrastruktur bangunan.

Onesentral Park SdnBhd Malaysia 100 100 Pembangunan harta tanah.

PremaBonanza SdnBhd Malaysia 51 51 Pembangunan harta tanah.

Semasa Sentral SdnBhd Malaysia 100 100 Operasi, pengurusan dan penyelenggaraan stesenkeretapi KL Sentral.

Semasa Services SdnBhd Malaysia 100 100 Perkhidmatan pengurusan bangunan.

SemasaParking SdnBhd Malaysia 100 100 Pengurusan tempat letak kereta.

Sooka Sentral SdnBhd Malaysia 100 100 Kerja-kerja operasi, pengurusan dan penyelenggaraan rumahkelab di KL Sentral.

SynarGymSdnBhd Malaysia 100 100 Pengurusan dan pengoperasian pusat senaman.

SuperviewDevelopment SdnBhd Malaysia 100 100 Pembangunan harta tanah, pengurusan dan perdagangan saham.

Transmission Technology SdnBhd Malaysia 100 100 Perkhidmatan kejuruteraan, pembinaan dan pengujian kepada sistem transmisi tenaga.

MafiraHoldings SdnBhd Malaysia 100 100 Pegangan pelaburan.

MRSecurities SdnBhd Malaysia 100 100 Pegangan pelaburan.

MRConstruction SdnBhd Malaysia 51 51 Pembinaan.

MREnterprises SdnBhd Malaysia 100 100 Pembinaan.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malaysian Resources Corporation Berhad (Samb.)

MRManagement SdnBhd # Malaysia 100 100 Pegangan pelaburan dan perkhidmatan pengurusan.

MR-HPiling AndCivil Engineering (M) SdnBhd

Malaysia 51 51 Menanam cerucuk dan kejuruteraan awam.

MRCBCeramics SdnBhd Malaysia 100 100 Pembuat, pengedar dan penjual jubin seramik.

MRCBDotcomSdnBhd # Malaysia 100 100 Perkhidmatan perancangan dan pengurusan.

MRCB Intelligent SystemAnd Control SdnBhd #

Malaysia 100 100 Perkhidmatan penyelenggaraan, aplikasi sistemdan lain-lain aplikasi teknologi.

SemasaDistrict Cooling SdnBhd Malaysia 100 100 Penyedia perkhidmatan kad teknologi serba lengkap.

MRCBLand SdnBhd Malaysia 100 100 Perkhidmatan pengurusan dan pembangunan projek.

MRCBPropertyManagement SdnBhd

Malaysia 100 100 Pelaburan dan pengurusan harta tanah.

MRCBTrading SdnBhd # Malaysia 100 100 Perdagangan bahan binaan.

RegionResources SdnBhd Malaysia 100 100 Operasi kuari.

Sibexlink SdnBhd Malaysia 100 100 Jualanmaklumat perniagaan dan pembangunan lamanweb.

CheqPoint (M) SdnBhd Malaysia 75 75 Perkhidmatan kad caj dan pegangan pelaburan.

Harmonic Fairway SdnBhd # Malaysia 100 100 Pegangan pelaburan.

MRCBEnergy International SdnBhd #

Malaysia 100 100 Pra-operasi.

Semasa Sentral (Penang) SdnBhd Malaysia 100 100 Pengoperasian, pengurusan dan penyelenggaraanPenang Sentral.

SemasaACEUrusharta # Malaysia 100 100 Pra-operasi.

MRCBGreenEnergy SdnBhd Malaysia 100 100 Pra-operasi.

348 Sentral SdnBhd (Dahulu dikenali sebagai GSBSentral SdnBhd) Malaysia 100 100

Pembangunan harta tanah dan aktiviti khidmat luaran.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Kuala Lumpur Sentral Sdn Bhd

Unity Portfolio SdnBhd Malaysia 74 64.38 Pengurusan harta tanah.

Syarikat Subsidiari Dipegang Oleh MRCB Engineering Sdn Bhd

MRCB (Thailand) Ltd Thailand 100 100 Pra-operasi.

Syarikat Subsidiari Dipegang Oleh MRCB Environmental Services Sdn Bhd

MRCBEnvironment SdnBhd Malaysia 55 55 Kerja reka bentuk dan pembinaan infrastruktur.

Syarikat Subsidiari Dipegang Oleh MRCB Prasarana Sdn Bhd

MRCBLingkaran Selatan SdnBhd Malaysia 100 100 Kerja-kerja pembinaan, pembangunan, reka bentuk, pengurusan projek, operasi dan penyelenggaraan dan pembiayaan bagi lebuhrayadikenali sebagaieastern Dispersal Link, JohorBahru.

Syarikat Subsidiari Dipegang Oleh MRCB Lingkaran Selatan Sdn Bhd

MRCBSouthern LinkBhd Malaysia 100 100 Kerja-kerja pembinaan, pembangunan, bentukpengurusan projek danpembiayaan bagi lebuhraya daninfrastruktur berkaitan projek.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malaysian Resources Development Sdn Bhd

Bitar Enterprises SdnBhd Malaysia 100 100 Pelaburan harta tanah dan pegangan pelaburan.

Golden East Corporation SdnBhd Malaysia 100 100 Pembangunan dan pengurusan harta tanah.

Seri IskandarUtilities Corporation SdnBhd #


SunriseProperties SdnBhd Malaysia 100 100 Pembangunan harta tanah.

TaiyeeDevelopment SdnBhd # Malaysia 100 100 Pembangunan harta tanah.

MRCBPropertyDevelopment SdnBhd


MRProperties SdnBhd # Malaysia 100 100 Pembangunan harta tanah.

Seri IskandarDevelopment Corporation SdnBhd

Malaysia 70 70 Pembangunan harta tanah.

Syarikat Subsidiari Dipegang Oleh Bitar Enterprises Sdn Bhd

MRCBLand (Australia) Pty Ltd Australia 70 70 Pelaburan harta tanah.

Syarikat Subsidiari Dipegang Oleh MRCB Property Development Sdn Bhd

MRCBCahayaMutiara SdnBhd # Malaysia 100 100 Pembangunan dan pengurusan harta tanah.

Syarikat Subsidiari Dipegang Oleh Mafira Holdings Sdn Bhd

ZenConcrete Industries SdnBhd Malaysia 38.60 38.60 Pembuat dan pembekal tiang konkrit pra-tekanan.

Syarikat Subsidiari Dipegang Oleh MR Securities Sdn Bhd

Semasa Security SdnBhd Malaysia 100 100 Perkhidmatan kawalan keselamatan.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Region Resources Sdn Bhd

Syarikat GemilangQuarry SdnBhd # Malaysia 100 100 Operasi kuari.

Syarikat Subsidiari Dipegang Oleh 348 Sentral Sdn Bhd (Dahulu dikenali sebagai GSBSentral SdnBhd)

348 Sentral Office SdnBhd (Dahulu dikenali sebagai GSBSentral Office SdnBhd)


348 Sentral ServiceResidence SdnBhd (Dahulu dikenali sebagai GSBSentral Residence SdnBhd


Syarikat Bersekutu Dipegang Oleh Malaysian Resources Corporation Berhad

nuzenCorporation SdnBhd Malaysia 30 30 Pegangan pelaburan.

One IFC SdnBhd Malaysia 30 30 Pegangan pelaburan.

Penang Sentral SdnBhd Malaysia 49 49 Pembangunan harta tanah.

Suasana Sentral Two SdnBhd Malaysia 30 30 Pembangunan harta tanah.

MultimediaConsulting SdnBhd Malaysia - 29 Perkhidmatan aplikasimaklumat dan teknologi.

Kota Francais (M) SdnBhd Malaysia 20 20 Francais pengurusan harta tanah dan khidmat nasihat.

Syarikat Subsidiari Dipegang Oleh Bandar Eco–Setia Sdn Bhd

Setia EcoParkRecreation SdnBhd Malaysia 100 100 Mengendalikan kelab rekreasi.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Iskandar Investment Berhad

Medini IskandarMalaysia SdnBhd ("MIM")

Malaysia 75 75 Pegangan pelaburan harta tanah danmenyediakan perkhidmatan pembinaan.

IskandarCoast SdnBhd (“ICSB”) Malaysia 80 80 Pegangan pelaburan dan pembangunan harta tanah.

IskandarDevelopment and Management Services SdnBhd ("IDMS")

Malaysia 100 100 Perkhidmatan pengurusan.

SJICBina SdnBhd Malaysia 100 100 Pembinaan.

PeakAlpha Express SdnBhd Malaysia 100 100 Pegangan pelaburan.

Education@Iskandar SdnBhd Malaysia 100 100 Pembangunan dan pengurusan perkhidmatan harta tanah.

Iskandar Assets SdnBhd Malaysia 100 100 Pelaburan harta tanah.

IskandarHartaHoldings SdnBhd Malaysia 100 100 Pegangan dan pelaburan harta tanah.

Medini Land SdnBhd Malaysia 100 100 Pegangan dan pelaburan harta tanah.

Iskandar Investment Pte Ltd ("IIPL") Singapura 100 100 Pengurusan perkhidmatan.

Medini CityManagement SdnBhd Malaysia 100 100 Dorman.

Medini Security Services SdnBhd Malaysia 100 100 Dorman.

Medini Leisure and Entertainment SdnBhd

Malaysia 100 100 Dorman.

Iskandar Innovation SdnBhd Malaysia 100 100 Dorman.

TemasekCeria SdnBhd Malaysia 100 – Pegangan pelaburan.

JasmineAcres SdnBhd Malaysia 100 – Dorman.

Syarikat Subsidiari Dipegang Oleh MIM

Medini Development SdnBhd Malaysia 100 100 Dagangan harta tanah.

Syarikat Subsidiari Dipegang Oleh ICSB

nodedua SdnBhd Malaysia 80 76.80 Dorman.

RiverRetreat SdnBhd Malaysia 80 80 Dorman.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh IDMS

IskandarManagement Services SdnBhd


Syarikat Subsidiari Dipegang Oleh Peak Alpha Express Sdn Bhd

IDRResorts SdnBhd Malaysia 100 100 Pegangan pelaburan.

Syarikat Subsidiari Dipegang Oleh IDR Resorts Sdn Bhd

IDRAssets SdnBhd Malaysia 100 100 Pembangunan harta tanah.

LLMalaysia Taman TemaSdnBhd (Dahulu dikenali sebagai IDR Operations SdnBhd)


Syarikat Subsidiari Dipegang Oleh Iskandar Harta Holding Sdn Bhd

UjungMedini SdnBhd Malaysia 100 100 Pembangunan harta tanah.

Syarikat Subsidiari Dipegang Oleh Education@Iskandar Sdn Bhd

Iskandar Education Village SdnBhd Malaysia 100 100 Pengurusan dan pembangunan harta tanah.

IskandarBritish School SdnBhd Malaysia 100 100 Pengurusan dan pembangunan harta tanah.

Iskandar Education Enterprise SdnBhd

Malaysia 100 100 Pengurusan dan pembangunan harta tanah.

IskandarMedical School SdnBhd Malaysia 100 100 Pengurusan dan pembangunan harta tanah.

Syarikat Bersekutu Dipegang Oleh Iskandar Investment Berhad

Global Capital AndDevelopment SdnBhd

Malaysia 30 30 Pegangan pelaburan dan pembangunan harta tanah.

IskandarWaterfront SdnBhd Malaysia 28.50 28.50 Pegangan pelaburan dan pembangunan harta tanah.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malakoff Corporation Berhad

Segari Energy Ventures SdnBhd Malaysia 93.75 93.75 Rekacipta, pembinaan, operasi dan penyelenggaraan bagimenggabungkan kuasa pusinganloji,membekal danmenjualtenaga elektrik serta penjanaankapasiti janakuasa loji.

GB3 SdnBhd Malaysia 75 75 Rekacipta, pembinaan, operasi dan penyelenggaraan bagimenggabungkan kuasa pusinganloji,membekal danmenjualtenaga elektrik serta penjanaankapasiti janakuasa loji.

Wirazone SdnBhd Malaysia 100 100 Membina,memilik dan menjalankan sistempengagihanelektrik serta pemusatan sistemjentera loji air.

Prai Power SdnBhd Malaysia 100 100 Rekacipta, pembinaan, operasi dan penyelenggaraan bagimenggabungkan kuasa pusinganloji,membekal danmenjualtenaga elektrik serta penjanaankapasiti janakuasa loji.

TanjungBin Power SdnBhd Malaysia 90 90 Rekacipta, kejuruteraan, perolehan, pembinaan, kerjapemasangan dan bayaran,pengujian, operasi danpenyelenggaraan bagi penjanaankuasa 2,100MWdan penjualantenaga elektrik serta penjanaankapasiti janakuasa loji.

Teknik Janakuasa SdnBhd Malaysia 100 100 Menjalankan danmenyelenggara janakuasa loji.

Malakoff Engineering SdnBhd Malaysia 100 100 Membekalkan perkhidmatan kejuruteraan dan pengurusanprojek.

DesaKilat SdnBhd Malaysia 54 54 Tebus guna tanah, pembangunan dan penjualan tanah tebusguna.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malakoff Corporation Berhad

(Samb.)

Hypergantic SdnBhd Malaysia 100 100 Pegangan pelaburan.

TuahUtamaSdnBhd Malaysia 100 100 Pegangan pelaburan.

TanjungBin Energy SdnBhd (Dahulu dikenali sebagai TranspoolSdnBhd)

Malaysia 100 100 Rekacipta, kejuruteraan, perolehan, pembinaan, kerjapemasangan dan bayaran,pengujian, operasi danpenyelenggaraan bagi penjanaankuasa 1,000MW.

Malakoff Capital (L) Ltd Malaysia 100 100 Dorman.

Spring Assets Limited British Virgin Islands

100 100 Dorman.

Malakoff International Limited Cayman Islands Britain

100 100 Pegangan pelaburan luar pesisir.

Malakoff PowerBerhad Malaysia 100 100 Dorman.

Powerfield SdnBhd Malaysia 100 – Menguruskan pembangunan bagi penjanaan kuasa 1,000MW.

Malakoff R&DSdnBhd Malaysia 100 – Menjalankan aktiviti penyelidikan dan pembangunan.

Syarikat Subsidiari Dipegang Oleh Teknik Janakuasa Sdn Bhd

natural Analysis SdnBhd Malaysia 100 100 Menjalankan danmenyelenggara janakuasa loji.

TJSBGlobal SdnBhd Malaysia 100 100 Pegangan pelaburan.

TJSB International Limited Cayman Islands Britain


TJSBServices SdnBhd Malaysia 100 – Menjalankan danmenyelenggara janakuasa loji.

Syarikat Subsidiari Dipegang Oleh TJSB International Limited

TJSBMiddle East Limited British Virgin Islands

100 100 Menjalankan danmenyelenggara janakuasa loji.

TJSB International (Shoaiba) Limited British Virgin Islands








2011 2010% %

Syarikat Subsidiari Dipegang Oleh Malakoff Engineering Sdn Bhd

MESBProjectManagement SdnBhd Malaysia 100 100 Membekalkan perkhidmatan kejuruteraan dan pengurusan projek.

Syarikat Subsidiari Dipegang Oleh Malakoff International Limited

Malakoff Gulf Limited British Virgin Islands


Malakoff Technical (Dhofar) Limited British Virgin Islands


Malakoff AlDjazairDesal SdnBhd Malaysia 100 100 Pegangan pelaburan.

Malakoff JordanGeneration Limited British Virgin Islands


Malakoff Ras Azzour Limited British Virgin Islands

100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh Malakoff AlDjazair Desal Sdn Bhd

TlemcenDesalination Investment Company SAS

Perancis 70 70 Pegangan pelaburan luar pesisir.

Syarikat Bersekutu Dipegang Oleh Malakoff Corporation Berhad

PortDicksonPowerBerhad Malaysia 25 25 Menjana danmenjual tenaga elektrik.

Kapar Energy Ventures SdnBhd Malaysia 40 40 Menjana danmenjual tenaga elektrik.

LekirBulk Terminal SdnBhd Malaysia 20 20 Perkhidmatan pengendalian terminal dan arang batu.

Malaysian ShoaibaConsortium SdnBhd


Saudi-MalaysiaWater&Electricity Company Limited

Arab Saudi 20 20 Pegangan pelaburan luar pesisir.

ShuaibahWater&Electricity Company Limited

Arab Saudi 12 12 Merekabentuk,membina,menguji, menjalankandanmenyelenggaraloji janakuasabahan api dangaramgalian.







2011 2010% %

Syarikat Bersekutu Dipegang Oleh Malakoff Corporation Berhad

(Samb.)

Shuaibah ExpansionHolding Company Limited

Arab Saudi 12 12 Pengeluaran airminuman.

Shuaibah ExpansionProject Company Limited

Arab Saudi 11.70 11.70 Pembangunan, pembinaan, penyelenggaraan produk berasaskan air.

Oman Technical Partners Limited British Virgin Islands

43.40 43.40 Pegangan pelaburan luar pesisir.

SalalahPowerHoldings Limited Bermuda 43.40 43.40 Pegangan pelaburan luar pesisir.

Enara Energy Investment Company Jordan 25 25 Pegangan pelaburan pesisir pantai.

Central Electricity Generating Company Limited

Jordan 12.75 12.75 Menjana tenaga elektrik.

Al-ImtiazOperation AndMaintenance Company Limited

Arab Saudi 20 20 Melaksanakandanmenyelenggara stesen janakuasa elektrik danpemprosesan garamgalian.

SaudiMalaysiaOperation And Maintenance ServicesCompanyLimited

Arab Saudi 20 20 Pengoperasian dan penyelenggaraan loji kuasa dan garamgalian.

Hyflux-TJSBAlgeria SPA Algeria 49 49 Pengoperasian dan penyelenggaraan loji kuasa dangaramgalian.

Syarikat Subsidiari Dipegang Oleh Columbia Asia Sdn Bhd

ColumbiaCapital Berhad Malaysia 100 100 Dorman.

Grafik Gelombang SdnBhd Malaysia 100 100 Dorman.

UniversalMedicarePte Ltd Singapura 100 100 Dorman.

CPHSarawak SdnBhd Malaysia 72.70 72.70 Pegangan pelaburan.

Syarikat Subsidiari Dipegang Oleh Universal Medicare Pte Ltd

PTnusautamaMedicanlindo Indonesia 100 100 Pengoperasian pusat perubatan.







2011 2010% %

Syarikat Subsidiari Dipegang Oleh CPH Sarawak Sdn Bhd

TruePeace SdnBhd Malaysia 100 100 Pengoperasian pusat perubatan.

Syarikat Subsidiari Dipegang Oleh True Peace Sdn Bhd

Computerised X-ray Scanning SdnBhd

Malaysia 100 100 Perkhidmatan imbasan sinar-x.

SelesaMedical Labs SdnBhd Malaysia 100 100 Dorman.

Syarikat Subsidiari Dipegang Oleh Sunway South Quay Sdn Bhd

SunwayMonash-UResidence SdnBhd

Malaysia 100 100 Pelaburan harta tanah.

Syarikat Subsidiari Dipegang Oleh Nusa Gapurna Development Sdn Bhd GapurnaBuilders SdnBhd Malaysia 40 – Pembangunan harta tanah dan

pembinaan.

Gapurna Land SdnBhd Malaysia 40 – Pembangunan harta tanah.

P.J Sentral Development SdnBhd Malaysia 40 – Pembangunan harta tanah.

PuncakWangi SdnBhd Malaysia 40 – Pembangunan harta tanah.

Syarikat Subsidiari Dipegang Oleh PLUS Malaysia Sdn Bhd

Projek LebuhrayaUsahasamaBerhad (PlusBerhad)

Malaysia 100 – Pelaburan, pembangunan danpembinaan infrastruktur projek-projek jalan raya dan lebuhrayaserta aktiviti yang berkaitan.

# Syarikat di atas sedang dalamproses penggulungan sukarela setakat 31Disember 2011.



PKWSCONTENTS

FINANCIALSTATEMENTS

264 CERTIFICATEOF THEAUDITORGEnERAL On THEFInAnCIAL STATEMEnTSOF THEEMPLOYEESPROVIDEnTFUnDFOR THEYEAREnDED 31DECEMBER 2011

265 STATEMEnTBYCHAIRMAnAnDABOARDMEMBERAS TRUSTEES

265 DECLARATIOnOFPRInCIPALOFFICERRESPOnSIBLEFOR THEFInAnCIALMAnAGEMEnTOF THEEMPLOYEESPROVIDEnTFUnD

266 STATEMEnTOF FInAnCIALPOSITIOnASAT 31DECEMBER 2011

267 InCOMESTATEMEnTFOR THE YEAREnDED 31DECEMBER 2011

268 STATEMEnTOFCOMPREHEnSIVE InCOMEFOR THE YEAREnDED 31DECEMBER 2011

269 STATEMEnTOFCHAnGES InMEMBERS’FUnDFOR THE YEAREnDED 31DECEMBER 2011

271 CASHFLOWSTATEMEnTSFOR THE YEAREnDED 31DECEMBER 2011

274 nOTESTOTHEFInAnCIALSTATEMEnTSFORTHEYEAREnDED31DECEMBER2011

I have audited the financial statements of Employees Provident Fund and the Group for the year ended 31 December 2011. These financial statements are the responsibility of the management. My responsibility is to audit and express an opinion on these financial statements.

The audit has been carried out in accordance with the Audit Act 1957 and in conformity with approved standards on auditing. Those standards require an audit to be planned and performed to obtain reasonable assurance that the financial statements are free of material misstatement or omission. The audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. It also includes assessments of the accounting principles used, significant estimates made by the management as well as evaluating the overall presentation of the financial statements. I believe that the audit provides a reasonable basis for my opinion.

In my opinion, the financial statements give a true and fair view of the financial position of Employees Provident Fund and the Group as at 31 December 2011 and of the results of its operations and its cash flows for the year ended in accordance with the approved accounting standards.

I have considered the financial statements and the auditors’ report of the subsidiary companies of which I have not acted as auditor as indicated in the notes to the consolidated financial statements. I am satisfied that the financial statements of the subsidiary companies that have been consolidated with Employees Provident Fund’s financial statements are in appropriate form and content, proper for the purposes of the preparation of the consolidated financial statements. I have received satisfactory information and explanation as required by me for those purposes.

The auditors’ reports on the financial statements of such subsidiary companies were not subject to any observations that could affect the consolidated financial statements.

STATEMENT BY CHAIRMAN AND A BOARD MEMBER AS TRUSTEES

DECLARATION OF PRINCIPAL OFFICER RESPONSIBLE FOR THE FINANCIAL MANAGEMENT OF THE EMPLOYEES PROVIDENT FUND

We, TAN SRI SAMSUDIN BIN OSMAN and HALIM BIN HAJI DIN as the Chairman and a member of the Board, asrepresentatives of the Trustee of theEMPLOYEES PROVIDENT FUND, do hereby state that, in the opinion of the Board,theaccompanyingFinancialStatementwhich includes theStatementOfFinancialPosition, IncomeStatement,StatementOfComprehensive Income,StatementOfChanges InMembers’FundandCashFlowStatement,as follows togetherwiththe notes To The Financial Statement are drawn up so as to give a true and fair view of the state of affairs of theEMPLOYEES PROVIDENT FUND as at 31 December 2011 and of the results of its operation and changes in financialposition for the year ended on that date.

On behalf of theBoard, On behalf of theBoard,

nAME : TAnSRI SAMSUDInBInOSMAn nAME : HALIMBInHAJIDInTITLE : CHAIRMAnOFEPF TITLE : ABOARDMEMBEROFEPFDATE : 02MARCH 2012 DATE : 02MARCH 2012PLACE : KUALA LUMPUR PLACE : KUALA LUMPUR

I,SAZALIZA BIN ZAINUDDIN,asarepresentativeoftheTrusteeandofficerprimarilyresponsibleforthefinancialmanagementof the EMPLOYEES PROVIDENT FUND do solemnly and sincerely declare that the accompanying Financial Statement whichincludes the Statement Of Financial Position, Income Statement, Statement Of Comprehensive Income, Statement Of ChangesIn Members’ Fund and Cash Flow Statement, in the following financial position together with the notes To The FinancialStatement to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing thesame to be true and by virtue of the provisions of the StatutoryDeclarations Act, 1960.

Subscribedand ]solemnlydeclaredby ]theabovenamedin ]KUALALUMPUR ] SAZALIZABInZAInUDDInon27February2012 ] Beforeme,

COMMISSIOnERFOROATHS Lot1.08,Tkt1, BangunanKWSP, Jln.RajaLaut, 50350KualaLumpur.


STATEMENT OF FINANCIAL POSITIONASAT 31DECEMbER 2011

GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

U TILISATION OF MEMBERS’ FUND

ASSETSDeferred Tax Assets 6 881 376 – –Property, Plant And Equipment 7 402,396 389,520 282,686 281,585Investment Properties 8 6,905,221 3,698,854 1,398,746 1,429,496Intangible Assets 9 13,104 27,585 10,536 25,623Prepaid Land Lease 10 124,927 116,937 115,306 107,151AssetsHeld For Sale 11 21,104 209,355 17,913 209,355LandHeld For PropertyDevelopment 12 – 64,954 – 64,954PropertyDevelopment Costs 13 322,568 150,309 195,206 148,140Investments In Subsidiaries 14 – – 8,246,271 3,365,493Investments In Associates 15 20,721,463 11,328,667 18,272,231 9,678,159Held-To-Maturity Investment Assets 16 177,197,491 167,701,121 176,993,137 167,701,121Available-For-Sale Financial Assets 17 163,151,405 151,578,739 163,100,334 151,578,739Financial Assets At Fair Value ThroughProfit/Loss 18 2,469,409 946,978 1,715,747 672,946

Loans, Advances And Financing 19 99,961,002 93,719,255 84,514,996 83,012,725InventoriesOf CompletedProperties 20 121,839 121,780 – –Receivables, Deposits AndPrepayments 21 2,047,494 1,579,746 1,662,206 1,342,114TaxRecoverable 362,131 451,707 382,527 456,607Accrued Interest AndDividend 5,536,656 2,842,603 5,571,559 2,842,571DepositsWith Financial Institutions 22 15,998,544 23,733,987 14,786,823 22,665,525BankAndCashBalances 613,527 410,983 238,937 265,875

Total Assets 495,971,162 459,073,456 477,505,161 445,848,179

LIABILITIESDeferred Tax Liabilities 6 24,992 19,256 – –Provision For EmployeeBenefits 23 159,033 139,802 159,033 139,802Provision For Taxation 82,356 84,004 – –LoansAndOverdrafts 24 2,037,928 1,168,712 – –ContributionWithdrawals Payable 72,122 75,936 72,122 75,936Derivative Liabilities 47,400 35,175 47,400 35,175Deposits AndAdvances 25 13,699,636 10,624,507 152,892 140,839Payables AndAccrued Liabilities 26 836,554 691,567 547,649 496,921

Total Liabilities 16,960,021 12,838,959 979,096 888,673

NET ASSETS 479,011,141 446,234,497 476,526,065 444,959,506

MEMBERS’ FUNDContributions Account 27 445,938,912 407,565,535 445,938,912 407,565,535Other Funds 32,166,369 38,010,206 30,587,153 37,393,971

478,105,281 445,575,741 476,526,065 444,959,506Minority Interest 905,860 658,756 – –

479,011,141 446,234,497 476,526,065 444,959,506

The notes set out form an integral part of, and should be read in conjunctionwith, these Statements.


INCOME STATEMENTFOR THE YEARENDED 31DECEMbER 2011

GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

INCOMEGross Investment Income 28 28,056,825 24,763,362 27,235,295 24,063,531Investment Expenditures 29 (316,077) (251,930) (154,757) (109,378)net Impairment LossOn Financial Investment Assets 30 (1,313,320) (1,271,662) (1,138,648) (1,159,428)net Impairment LossOn Investments In Subsidiaries AndAssociates 31 – – (6,667) 234,966

net Investment Income 26,427,428 23,239,770 25,935,223 23,029,691

non-Investment Income 32 241,827 172,635 64,191 78,729

26,669,255 23,412,405 25,999,414 23,108,420

Operating Expenditures 33 (1,471,620) (1,033,507) (893,778) (752,953)Statutory Charges 34 (42,517) (43,033) (42,517) (43,033)Reversal Of Impairment LossOnProperty 35 21,316 – 21,316 –

Total Expenditures (1,492,821) (1,076,540) (914,979) (795,986)

Net Income 25,176,434 22,335,865 25,084,435 22,312,434

ShareOf Results FromAssociates 1,009,812 813,916 – –

net Profit Before Tax And Zakat 26,186,246 23,149,781 25,084,435 22,312,434

Taxation And Zakat 36 (112,310) (63,599) – –

Net Profit After Tax And Zakat 26,073,936 23,086,182 25,084,435 22,312,434

Attributable To: Contributors of EPF 25,973,856 23,036,554Minority Interest 100,080 49,628

26,073,936 23,086,182



STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEARENDED 31DECEMbER 2011

GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

Net Profit After Tax And Zakat 26,073,936 23,086,182 25,084,435 22,312,434

OtherComprehensive Income/(Loss):Available-For-Sale Financial Assets (7,095,998) 13,402,331 (7,095,998) 13,402,331Currency TranslationDifferences 73,560 – – –

37 (7,022,438) 13,402,331 (7,095,998) 13,402,331

Total Comprehensive Income 19,051,498 36,488,513 17,988,437 35,714,765



STATEMENT OF CHANGES IN MEMBERS’ FUNDFOR THE YEARENDED 31DECEMbER 2011

GROUP

<__________ Non-Distributable __________> DistributableAvailable-For-Sale Financial

Assets Reserve

Section 50(3)Reserve

ForeignExchange

Reserve

AccumulatedSurplus/

(Deficit)

Total

(RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

AsAt31December2009 23,162,278 40,000 – 951,095 24,153,373FirstTimeAdjustmentOnComplianceToFRS139In2010 – – – (656,171) (656,171)

Balance As Restated 23,162,278 40,000 – 294,924 23,497,202SurplusOfIncomeForTheCurrentYear – – – 23,036,554 23,036,554TransferFromInterestOnContributionsPaidLate – 10,797 – – 10,797RevaluationOnAvailable-For-SaleFinancialAssets 20,760,189 – – – 20,760,189

AdjustmentOnDisposalOfAvailable-For-SaleFinancialAssets (7,357,858) – – – (7,357,858)

PaymentOnInvocationOfSection50(3) – (10,797) – – (10,797)2010DividendCreditedToMembers’Accounts–5.80% – – – (21,610,131) (21,610,131)DividendOnContributionWithdrawals – – – (302,150) (302,150)AdjustmentOnDividendCreditedInPreviousYear – – – (13,600) (13,600)

AsAt31December2010 36,564,609 40,000 – 1,405,597 38,010,206

As At 31 December 2010 36,564,609 40,000 – 1,405,597 38,010,206SurplusOfIncomeForTheCurrentYear – – – 25,973,856 25,973,856TransferFromInterestOnContributionsPaidLate – 19,497 – – 19,497RevaluationOnAvailable-For-SaleFinancialAssets (1,076,457) – – – (1,076,457)

AdjustmentOnDisposalOfAvailable-For-SaleFinancialAssets (6,019,541) – – – (6,019,541)

CurrencyTranslationDifferences – – 73,560 – 73,560PaymentOnInvocationOfSection50(3) – (19,497) – – (19,497)2011DividendCreditedToMembers’Account–6.00% – – – (24,466,019) (24,466,019)DividendOnContributionWithdrawals – – – (320,315) (320,315)AdjustmentOnDividendCreditedInPreviousYear – – – (8,921) (8,921)

As At 31 December 2011 29,468,611 40,000 73,560 2,584,198 32,166,369



EPF

<____ Non-Distributable ____> DistributableAvailable-For-Sale Financial

Assets Reserve

Section 50(3)Reserve

AccumulatedSurplus/

(Deficit)

Total

(RM’000) (RM’000) (RM’000) (RM’000)

AsAt 31December 2009 23,162,278 40,000 760,195 23,962,473First TimeAdjustmentOnCompliance To FRS139 In 2010 – – (357,386) (357,386)

Balance As Restated 23,162,278 40,000 402,809 23,605,087SurplusOf IncomeFor TheCurrent Year – – 22,312,434 22,312,434Transfer From Interest OnContributionsPaid Late – 10,797 – 10,797RevaluationOnAvailable-For-Sale Financial Assets 20,760,189 – – 20,760,189AdjustmentOnDisposal Of Available-For-Sale Financial Assets (7,357,858) – – (7,357,858)

PaymentOn InvocationOf Section 50(3) – (10,797) – (10,797)2010DividendCredited ToMembers’ Accounts – 5.80% – – (21,610,131) (21,610,131)DividendOnContributionWithdrawals – – (302,150) (302,150)AdjustmentOnDividendCredited In Previous Year – – (13,600) (13,600)

As At 31December 2010 36,564,609 40,000 789,362 37,393,971

As At 31 December 2010 36,564,609 40,000 789,362 37,393,971SurplusOf IncomeFor TheCurrent Year – – 25,084,435 25,084,435Transfer From Interest OnContributionsPaid Late – 19,497 – 19,497RevaluationOnAvailable-For-Sale Financial Assets (1,076,457) – – (1,076,457)AdjustmentOnDisposal Of Available-For-SaleFinancial Assets (6,019,541) – – (6,019,541)

PaymentOn InvocationOf Section 50(3) – (19,497) – (19,497)2011DividendCredited ToMembers’ Account – 6.00% – – (24,466,019) (24,466,019)DividendOnContributionWithdrawals – – (320,315) (320,315)AdjustmentOnDividendCredited In Previous Year – – (8,921) (8,921)

As At 31 December 2011 29,468,611 40,000 1,078,542 30,587,153



STATEMENT OF CHANGES IN MEMBERS’ FUND (CONT’D.)FOR THE YEARENDED 31DECEMbER 2011

CASH FLOW STATEMENTSFOR THE YEARENDED 31DECEMbER 2011

GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

CASH FLOW FROM OPERATING ACTIVITIESnet IncomeBefore Taxation And Zakat 26,186,246 23,149,781 25,084,435 22,312,434

Adjustments For:ShareOf Results FromAssociates (1,009,812) (813,916) – –AdjustmentOnCurrency Translation 14,209 – – –DepreciationOf Property, Plant And Equipment 48,199 35,302 40,629 28,147DepreciationOf Investment Properties 49,107 43,298 37,219 31,407AmortisationOf Intangible Assets 15,421 14,379 14,761 14,013AmortisationOf Prepaid Land Lease 1,352 1,344 1,187 1,179Impairment LossOn ForeclosedProperties – 6,710 – –Impairment LossOnHeld-To-Maturity Investment Assets – 350,000 – 350,000Impairment LossOnAvailable-For-Sale Financial Assets 1,139,314 830,423 1,139,314 830,423Impairment LossOn Loans, Advances And Financing 174,672 112,234 – –Impairment LossOnReceivables 9,543 – 9,543 –Reversal Of Impairment LossOnHeld-To- Maturity Investment Assets (594) (11,477) (594) (11,477)Reversal Of Impairment LossOn Available-For-Sale Financial Assets (6,709) (1,096) (6,709) (1,096)Reversal Of Impairment LossOn Loans, Advances And Financing (2,906) (8) (2,906) (8)Reversal Of Impairment LossOnAssets Held For Sale – (8,414) – (8,414)Reversal Of Impairment LossOn Investments In Subsidiaries AndAssociates – – 6,667 (234,966)Reversal Of Impairment LossOnProperty (21,316) – (21,316) –net LossOn Fair Value AdjustmentOnGlobal Investment Property 199,813 40,828 – –Provision For EmployeeBenefits 23,465 20,431 23,465 20,431AllowanceOnBadDoubfulDebt/WrittenOffs 17,117 19,164 – –WrittenOffs/Losses 167 48 167 48GainOnDisposal Of Property, Plant And Equipment (3,157) (265) (40) (258)GainOnDisposal Of ForeclosedProperties – (200) – –GainOnDisposal Of Investment Properties (1,100) (1,774) – –GainOnDisposal Of Inventories – (190) – –ShareOptionsGranted–ESOS 1,977 2,141 – –

26,835,008 23,788,743 26,325,822 23,331,863



GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

(Increase)/Decrease InOperating Assets:Intangible Assets 326 (10,437) 326 (10,437)Prepaid Land Lease (9,342) – (9,342) –Held-To-Maturity Investment Assets (9,495,776) (6,553,523) (9,291,422) (6,596,593)Available-For-Sale Financial Assets (12,654,200) (55,048,657) (12,654,200) (55,048,657)Financial Assets At Fair Value Through Profit/Loss (1,583,668) (752,778) (1,042,801) (478,746)

AssetHeld For Sale 191,442 1,161,759 191,442 1,161,759DepositsWith Financial Institutions 7,945,044 (1,571,113) 7,945,044 (1,571,113)Loans, Advances And Financing (6,161,836) (8,274,115) (1,508,908) (5,162,784)Receivables, Deposits AndPrepayments (436,660) (974,438) (320,259) (947,487)TaxRecoverable 94,713 335,764 74,080 330,736Accrued Interest/Dividend (2,728,993) (403,966) (2,728,988) (403,934)ProceedsFromDisposalOfForeclosedProperties – 6,200 – –Inventories (59) 3,000 – –

(24,839,009) (72,082,304) (19,345,028) (68,727,256)

Increase/(Decrease) In Operating Liabilities:net Contributions 13,898,437 12,198,838 13,898,437 12,198,838DividendOnContributionWithdrawals (320,315) (302,150) (320,315) (302,150)FirstTimeAdjustmentOnComplianceToFRS139 – (357,386) – (357,386)Available-For-Sale Financial AssetsReserve (7,095,998) 36,564,609 (7,095,998) 36,564,609Derivative Liabilities 12,225 35,175 12,225 35,175Provision For EmployeeBenefits (4,234) (4,264) (4,234) (4,264)Creditors AndAccrued Liabilities 149,654 13,725 50,728 (82,404)DeferredProfit Guarantee – (6) – –LoansAndOverdraft (100,075) 200,119 – –Deposits AndAdvances 3,040,258 2,924,305 12,053 2,972ContributionWithdrawals Payable (3,814) (4,558) (3,814) (4,558)

9,576,138 51,268,407 6,549,082 48,050,832

Tax And Zakat Paid (105,746) (13,888) – –TaxReceived 355 14 – –

Net Cash From Operating Activities 11,466,746 2,960,972 13,529,876 2,655,439



CASH FLOW STATEMENTS (CONT’D.)FOR THE YEARENDED 31DECEMbER 2011

GROUP EPF

2011 2010 2011 2010Note (RM’000) (RM’000) (RM’000) (RM’000)

CASH FLOW FROM INVESTMENT ACTIVITIESInvestments In Subsidiaries/Associates (12,522,933) (2,743,779) (13,481,517) (2,136,997)AcquisitionOf Property, Plant And Equipment (50,685) (66,181) (20,374) (31,875)AcquisitionOf Intangible Assets (1,266) (1,587,250) – –net AcquisitionOf Investment Properties (2,116,423) (351,336) (6,469) (351,336)Additional Cost On LandHeld For PropertyDevelopment 64,954 (8) 64,954 (8)PropertyDevelopment Costs (237,392) (89) (47,066) (89)Proceeds FromSaleOf Investment Properties 1,600 3,573 – –Proceeds FromSaleOf Property, Plant And Equipment 29,000 367 – 162Proceeds FromSaleOf Inventory – 870 – –

Net Cash Used In Investing Activities (14,833,145) (4,743,833) (13,490,472) (2,520,143)

CASH FLOW FROM FINANCING ACTIVITIESGroup Share/PartnershipCapital 389,662 283,922 – –Interest On Loans – 1,636,845 – –AdvancesCapital (319,990) 481,522 – –IssuanceOf Shares 2,690,136 182 – –ObligationsOn Loans Sold ToCagamas 969,291 (36,517) – –DividendPayment ToMinority Interest 49,445 (18,479) – –

Net Cash From Financing Activities 3,778,544 2,347,475 – –

Surplus In CashAndCash Equivalents 412,145 564,614 39,404 135,296CashAndCash Equivalents As At 01 January 1,528,204 963,590 314,634 179,338

Cash And Cash Equivalents As At 31 December 38 1,940,349 1,528,204 354,038 314,634



CASH FLOW STATEMENTS (CONT’D.)FOR THE YEARENDED 31DECEMbER 2011

NOTES TO THE FINANCIAL STATEMENTSFOR THE YEARENDED 31DECEMbER 2011

1. CORPORATE INFORMATION

TheBoardestablishedunder theEPFOrdinance,1951whichwas lateramended to theEPFAct,1991 is the trusteeof the EmployeesProvident Fund,which is a defined contribution scheme.

TheEPFHeadquarters is situated in EPFBuilding, JalanRaja Laut 50350Kuala Lumpur. As at 31December 2011,the EPF operates in four regions and 63 branches located at themain cities all overMalaysia.

2. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

TheEPF’soverall financialriskmanagementpolicy is tooptimisevaluecreation formemberswhilstminimising thepotential adverse impact arising from fluctuation of the interest rates and the unpredictability of the financialmarkets.

TheEPF is required to ensure that its investment activities arebalancedbetween the targetedannual dividendandvarious financial risks.

The EPF’s overall risk management framework seeks to minimise potential adverse effects on its financialperformance.TheEPFinvestsbasedonbroadassetallocationstrategywhichdeterminesthelongterm,strategicallyoptimal allocation of funds across asset classes. The Strategic Asset Allocation or SAA is typically based on therisk/returnprofileofabenchmarkforeachassetclass.Varyingthepotentialassetallocationswillresult indifferentmagnitudesofrisk.Giventhereturnsandriskforeachpotentialassetallocation,theInvestmentPanelwillbeabledto adjust the allocations until the strategically optimal allocation for the EPF is arrived.

The SAA is the highest level of investment decision-making and is the most important step in the investmentprocess as it determines themajority of the risk of its investments.

The SAA decision is subject to the EPF’sRisk Appetite Statements as follows:

i. The EPFwill not tolerate a greater than 10% chance of the dividend falling below 2.50% in any year over thenext 10 years.

ii. TheEPFwillnottolerateagreaterthanonethird(1/3)chanceoftheannualiseddividendfallingbelowinflation+2% over any rolling three years period.

iii. The EPF will not tolerate a greater than 5% chance of there being a negative Available-For-Sale FinancialAssets at the end of any year that is greater than 5% of the book value of assets.

Another decision in the investment process, the Tactical Asset Allocation (TAA), would allow the EPF to vary eachasset classallocation from the strategic allocationdetermined in theSAAandprevent excessivedeviation from theSAA.

In order for the EPF to achieve its mission, it has to manage the various risks posed by ever changing businessenvironment. These risks include operational risk and financial risk.

2.1 Operational Risk

Operational Risk is defined as the risk of loss resulting from inadequate or failed internal processes, peopleor systems, or from external events.

OperationalRiskManagement is used to support and enhance activities in all areas to ensure it is an integralpart of the decisionmaking processes and corporate culture.


2. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D.)

2.1 Operational Risk (Cont’d.)

A structured and consistent Operational Risk Management approach is adopted to align strategy, policy,processes, people, technology and knowledge for the purpose of evaluating andmanaging the uncertainties increating value to protect the EPF financial standing, reputation andmembership and optimisation of servicestomembers.

The EPF continuously strive to embed a risk practicing culture among its staff through risk education, andimplementation of controls and procedures.

2.2 Financial Risk

Financial risks are risks associated with various changes in economic aspects which give impact to the EPFfinancial stability. There are three types of financial risks faced by the EPF as follows:

i. Credit risk;

ii. Liquidity risk; and

iii. Market risk (which comprise of price risk, interest rate risk and foreign currency exchange risk).

Detailed policies pertaining to each type of financial risk as listed above are disclosed innote 41.

3. PRINCIPAL ACTIVITIES

The principal activities of the Board are to receive and to collect contributions, tomeet all withdrawals of savingsandotherbenefitstomembersortheirbeneficiariesuponsatisfactionofanyconditionforwithdrawalsandto investitsmonies for the benefit of itsmembers. The principal activities of the subsidiaries and associates are as statedinnotes 44 and 45 to the Financial Statements.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Unlessotherwise stated, the followingaccountingpolicieshavebeenapplied consistently in dealingwith items thatare consideredmaterial in relation to the Financial Statements.

4.1 Basis Of Preparation

TheGroup and EPF Financial Statements have been prepared in accordancewith:

i. The historical cost convention; and

ii. MASBApprovedAccounting Standards inMalaysia for Entities other thanPrivate Entities.


NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)FOR THE YEARENDED 31DECEMbER 2011

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D.)

4.1 Basis Of Preparation (Cont’d.)

The preparation of financial statements in conformity with Financial Reporting Standards requires the use ofcertaincriticalaccountingestimatesandassumptions thataffect the reportedamountsofassetsand liabilitiesand disclosure of contingent assets and liabilities at the date of the Financial Statements, and the reportedamounts of revenues and expenses during the reported period. It also requires Directors to exercise theirjudgement in the process of applying the EPF’s accounting policies. Although these estimates and judgementare based on theDirectors’ best knowledge of current events and actions, actual resultsmay differ.

The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimatesare significant to the Financial Statements, are disclosed innote 5.

a. Standards, Amendments To Published Standards And IC Interpretations That Have Been Adopted

In the current year, theGroupandEPFhaveadopted theAccountingStandardsFRS,Amendmentsand ICInterpretations that take effect on or after 01 January 2011 as follows:

–Revised FRS 1 First-time adoption of Financial Reporting Standards–Revised FRS 3 BusinessCombinations–Revised FRS 127 Consolidated and Separate Financial StatementsAmendments to FRS 1 First-time adoption of Financial Reporting StandardsAmendments to FRS 2 Share–BasedPayment–GroupCash–Settled Share–BasedPayment TransactionsAmendments to FRS 7 Financial Instruments: Disclosures–ImprovingDisclosures About Financial InstrumentsAmendments to FRS 132 Financial Instruments: Presentation–ClassificationOf Right Issues– IC Interpretation 4 DetermineWhether AnArrangement Contains a Lease– IC Interpretation 12 Service Concession Arrangements– IC Interpretation 16 HedgeOf anet Investment In a ForeignOperation– IC Interpretation 17 Distributions ofnon-cashAssets to Owners– IC Interpretation 18 TransfersOf Assets FromCustomersAmendments to IC Interpretation 9Reassessment of EmbeddedDerivatives– Improvements to FRSs (2010)

The adoption of the above Standards and Amendments to published standards does not give rise to anymaterial financial impact to theGroup and EPF.

b. Standards, Amendments To Published Standards And IC Interpretations That Are Not Yet Effective

On thedateofwhich the financial statementwasprepared, theStandardsandAmendmentsToPublishedStandards that have been issued but not yet effective and have not been adopted by the Group and EPFare as follows:

i. With effect from or after 01 January 2012

–MFRS 139 Financial Instruments: Recognition AndMeasurement (effective from 01 January 2012)–MFRS 124 RelatedPartyDisclosures (effective from 01 January 2012)– Amendment toMFRS 112 Income Taxes (effective from 01 January 2012)– IC Interpretation15 AgreementsForConstructionOfRealEstates (effective from 01January2012)– IC Interpretation 19 Extinguishing Financial LiabilitiesWith Equity Instruments (effective from 1 July 2011)– Amendments to IC Interpretation 14MFRS 119 – The Limit on aDefinedBenefit Assets,Minimum FundingRequirements And Their Interaction (effective from 01 July 2011)




4.1 Basis Of Preparation (Cont’d.)

b. Standards, Amendments To Published Standards And IC Interpretations That Are Not Yet Effective (Cont’d.)

ii. With effect from or after 01 January 2013

–MFRS 9 Financial Instruments – Classification AndMeasurementOf Financial Assets And Financial Liabilities (effective from 01 January 2013)

–MFRS 10 Consolidated Financial Statements (effective from 01 January 2013)–MFRS 11 Joint Arrangements (effective from 01 January 2013)–MFRS 12 DisclosuresOf Interest In Other Entities

(effective from 01 January 2013)–MFRS 13 Fair ValueMeasurement (effective from 01 January 2013)–RevisedMFRS 127 Separate Financial Statements (effective from 01 January 2013)–RevisedMFRS 128 Investments In Associates And Joint Ventures

(effective from 01 January 2013)Amendments toMFRS 1 SevereHyperinflation AndRemoval Of FixedDates For First-Time Adopters (effective from 01 January 2012)Amendments toMFRS 7 Financial Instruments: DisclosuresOn TransfersOf Financial Assets

(effective from 01 January 2012)Amendments toMFRS 101 Presentation of items of OtherComprehensive Income

(effective from 01 July 2012)Amendments toMFRS 119 EmployeeBenefits (effective from 01 January 2013)

In the next financial year, the Group and EPF will be adopting the new IFRS compliant framework,Malaysian FinancialReporting Standard (MFRS). For the purpose of this complianceMFRS 1 – First-time adoption ofMFRSwill be adopted.

4.2 Basis Of Consolidation

The Group Financial Statements include the Financial Statements of the EPF and its subsidiaries which havebeen prepared up to the end of the financial year. All intercompany transactions and balances have beeneliminatedonconsolidation.ThepreparationoftheEPFConsolidatedFinancialStatements is incompliancewithTreasuryCircularno.4,2007.TheBoardas the trusteeand themanagerof theEmployeesProvidentFundhasno asset and liability and all operating expenditures are charged to the revenue of the Fund.

4.3 Goodwill

The goodwill arising on consolidation represents the excess of the purchase price over the value of the netassets of the subsidiary as at acquisition date. Goodwill is carried at cost less accumulated impairment loss.Impairment loss on goodwill are not reversed. The policy for the recognition andmeasurement of impairmentloss is in accordancewithnote 4.12.

4.4 Investments In Subsidiaries

Asubsidiarycompany isacompany inwhichtheEPFcontrolsthecompositionof itsBoardOfDirectorsormorethan half of its voting power, or holdsmore than half of its issued ordinary share capital.

The existence and effect of potential voting rights that are currently exercisable or convertible are consideredwhen assessingwhether theGroup controls another entity.




4.4 Investments In Subsidiaries (Cont’d.)

The quoted and unquoted investments in subsidiaries are stated at cost and thereafter adjusted to its recoverablevaluewhich takes intoconsideration the impairment loss in thesaidyear, ifany.Thepolicy for the recognitionandmeasurementof impairment loss is inaccordancewithnote4.12.

TheGrouphas takenadvantageof theexemptionprovidedbyFRS3 (BusinessCombination) to apply this standardprospectively.Accordingly, businesscombinationsentered intoprior to the respectiveeffectivedateshavenotbeenrestated to complywith thisStandards.

A purchase method is used in accounting for the consolidation of subsidiaries. Under the purchase method,subsidiaries are consolidated from the date on which control is transferred to the Group and are de-consolidatedfrom the date that control ceases. The cost of acquisition ismeasured at fair value of the assets received, equityinstruments issued and the existing outstanding liabilities or assumed at the date of exchange, plus direct costsattributable to theacquisition.

Identifiableassetsandliabilitiesacquiredandcontingentliabilitiesassumedinabusinesscombinationaremeasuredinitially at their fair values at the acquisition date, irrespective of the extent of anyminority interest. The excess ofthecostofacquisitionover the fair valueof theGroup’sshareof the identifiablenetassetsacquiredat thedateofacquisition isreflectedasgoodwill.Theaccountingpolicyongoodwill isaspernote4.3. If thecostofacquisition isless than the fair value of the net assets of the subsidiary acquired, the difference is recognised directly in theincomestatement.

Minority Interestrepresents theportionof theprofitor lossandnetassetsofasubsidiaryattributable to theequityinterests that arenotowned,directly or indirectly throughsubsidiaries, by theparent.

Minority Interest is measured in respect of it’s share of the subsidiaries’ identifiable assets and liabilities at fairvalueasat theacquisitiondateand theminority’s shareuponchanges inequity of thesubsidiaries from thisdate.

Intragroup transactions, balances and unrealised gains on transactions between companies of the Group areeliminated. Unrealised losses are also eliminated but is considered as impairment indicator on the assetstransferred.

Thegainor lossondisposalofasubsidiary is thedifferencebetweennetdisposalproceedsand theGroup’sshareof itsnetassetsasofthedateofdisposal includingthecumulativeamountofanyforeignexchangedifferencesthatrelates to thesubsidiary is recognised in theConsolidated IncomeStatement.

4.5 Investments In Associates

Associates are companies inwhich theEPFhas a long termequity interest of 20% to 50%andwhere it exercisesa significant influence in financial andoperatingpolicydecisions.

Significant influence is thepower toparticipate in the financial andoperatingpolicydecisionsof theassociatesbutnot thepower toexercise control over thosepolicies.

Theexistenceandeffectofpotentialvotingrights thatarecurrentlyexercisableorconvertibleareconsideredwhenassessingwhether theGrouphassignificant influenceoveranotherentity.




4.5 Investments In Associates (Cont’d.)

Investments InAssociates are accounted for using the equitymethod of accounting and are initially stated at cost.TheGroup’sinvestmentinassociatesincludesgoodwill identifiedonacquisition,netofanyaccumulatedimpairmentloss.

The Group’s share of profits or losses of associates, as shown in the Consolidated Income Statement and theGroup’s interest in associates are stated at cost with adjustments to show changes of the Group’s share of netassetsof theassociates.

The quoted and unquoted investments in associates are stated at cost and thereafter adjusted to its recoverablevaluewhich takes intoconsideration the impairment loss in thesaidyear, ifany.Thepolicy for the recognitionandmeasurementof impairment loss is inaccordancewithnote4.12.

4.6 Interest In Joint Ventures

Interest In Joint Ventures represents an amount which has been advanced under a contractual agreement with ajoint venturepartner toundertakeconstructionprojectsandpropertydevelopmentwhich is jointly controlled.

Equity method has been adopted to account for Interest In Joint Ventures. The accounting for contract in jointventure isbasedon thepercentageofcompletionmethodand foreseeable losses, ifany, isprovided for in theyearthat it arises.

Interest In Joint Ventures is stated at cost and thereafter adjusted to its recoverable value which takes intoconsideration the impairment loss in the said year, if any. The policy for the recognition and measurement ofimpairment loss is inaccordancewithnote4.12.

4.7 Investment Financial Assets

The EPF classifies its investment financial assets based on FRS 139 as follows:

i. Held-To-Maturity Investment Assets

ii. Available-For-Sale Financial Assets

iii. Loans AndReceivables

iv. Financial Assets At Fair Value ThroughProfit/Loss

TheclassificationoffinancialassetsbasedonFRS139dependsonthepurposeofeachfinancialassetacquiredby theEPF.TheEPFdetermines theclassificationof financialassetsat initial recognition.Apart from financialassetscategorisedasLoans,AdvancesAndFinancingaswellasDepositsWithFinancial InstitutionswhicharedisclosedseparatelyintheStatementOfFinancialPosition,theEPFaccountingpoliciesinrespectofinvestmentfinancial assets after adopting FRS 139 are as follows:




4.7 Investment Financial Assets (Cont’d.)

a. Held-To-Maturity Investment Assets

Held-To-Maturity Investment Assets are non-derivative financial assets with fixed or determinablepaymentsand fixedmaturities that theEPFhas thepositive intentionandability tohold these investmentassets tomaturity. If theEPFwere to sellHeld-To-Maturity InvestmentAssets other thanan insignificantamount, thewhole categoryof this financial assetwouldbe taintedand reclassifiedasAvailable-For-SaleFinancial Assets.

The EPF investment instruments which have been classified as Held-To-Maturity Investment Assets areMalaysianGovernment Securities, Government Investment Issues, Bonds andPrivateDebt Securities.

b. Available-For-Sale Financial Assets

Available-For-Sale Financial Assets are non-derivative financial assets in which the EPF has designated inthis category upon initial recognition or not classified in any of the other categories of the financial assetsunderFRS139.

The EPF investment instruments which have been classified as Available-For-Sale Financial Assets areDomestic and Global Equity instruments that include Quoted Equities and Unquoted Equities irregardlesswhether they aremanaged internally or throughExternal FundManagers and domestic aswell as globalFixed Income Investment Instrumentsmanaged by the External FundManagers.

c. Financial Assets at Fair Value Through Profit/Loss

Financial Assets At Fair Value Through Profit/Loss are financial assets held for trading. A financial assetis classified in this category if it is acquired for trading purpose or repurchasing it in the near term.Derivative financialassetsarealsoclassifiedasFinancialAssetsAtFairValueThroughProfit/Lossunlessthey are designated as hedges.

The EPF investment instruments which have been classified as Financial Assets At Fair Value ThroughProfit/Loss are Fixed Income Investment Instruments designated as trading portfolio and derivativeinstrumentswhich are purchased directly or embedded in the contracts that theEPFhas entered into asat the StatementOf Financial Position.

Recognition and initialmeasurement of the financial assets are as follows:

i. Purchases and sales of financial assets are recognised on the trade-date, the date on which the EPFcommits to purchase or sell the financial assets.

ii. Financial assets are initially recognised at fair value plus related transaction costs.





c. Financial Assets at Fair Value Through Profit/Loss (Cont’d.)

Subsequent measurement of the financial assets (other than financial asset categorised as Loans, AdvancesAnd Financingwhich is separately disclosed innote 4.8) are as follows:


Stated at amortised cost using the effective yieldmethod.


Stated at fair value. Changes in the fair value aswell as changes in foreign currency exchange rates forthe global investment instruments are recognised in the Available-For-Sale Financial Assets Reserveexcept for impairment loss.

iii. Financial Assets at Fair Value Through Profit/Loss

Stated at fair value. Changes in the fair value aswell as changes in foreign currency exchange rates forthe global investment instruments are recognised in the Income Statement in the period in which thechange occurs.

The accounting policies in relation to recognition of impairment loss on financial assets during subsequentmeasurement are as follows:


The EPF assesses whether there is objective evidence that Held-To-Maturity Investment Assets areimpaired on specific interval basis. This financial asset is considered impairedwhen there is an objectiveevidence resulting fromseveral triggers that occurredafter the initial recognitionof the financial asset ismadewhich has an impact to the estimated future cash flows of the financial assets that can be reliablyestimated.

The criteria used by the EPF to determine whether there is an objective evidence of impairment hasoccurred forHeld-To-Maturity Investment Assets include the following triggers:

a. Decline in investment grade rating below the investment grade as set out by the EPF as at theStatementOf Financial Position date.

b. Default in paying principal/interest according to the repayment schedule.

c. Cease business operations/bankruptcy (upon filing of the case).

d. Winding up order on business operations.

e. Company inwhich the EPF invested has been classified as Pn17.

f. Material fraudwith publicised news/upon appointment of financial advisor.

g. Company inwhich the EPF invested received aQualified Audit Certificate.





i. Held-To-Maturity Investment Assets (Cont’d.)

The amount of impairment loss ismeasured as the difference between the carrying amount of theHeld-To-Maturity Investment Assets and the present value of estimated future cash flows discounted at thefinancial asset’s original effective yield method. The carrying value of the Held-To-Maturity InvestmentAssets is reduced and the amount of the impairment loss is recognised in the IncomeStatement.

If the revaluation made in the subsequent period reveals that the amount of impairment loss decreasesandthedecreasecanberelatedobjectively toaneventoccuringafter the impairmentwasrecognised, thereversal of the previously recognised impairment loss is recognised in the IncomeStatement.

When the Held-To-Maturity Investment Assets is uncollectible, it is written off against the allowance forimpairment loss account. Such assets are written off after all the necessary procedures have beencompleted and the amount of the loss has been determined.


The EPF assesses whether there is objective evidence that Available-For-Sale Financial Assets areimpaired on specific interval basis. The assessment method used by the EPF depends on the type ofinvestment instrumentwhich has been classified as Available-For-Sale Financial Assets as follows:

a. Equity Investment Instruments

An impairment loss isrecognisedwhenthere isasignificantorprolongeddecline in the fairvalueascompared to the original cost as at the Statement Of Financial Position date. If any such evidenceexists, the cumulative loss that had been recognised directly in the Available-For-Sale FinancialAssets Reserve is removed and the impairment loss is recognised in the Income Statement. Theamount of cumulative loss that is reclassified in the IncomeStatement is thedifferencebetween theacquisition cost and the current fair value less any impairment loss that has been previouslyrecognised in the IncomeStatement.Any impairment lossrecognised in the IncomeStatement in theprevious period with regard to equity investment instruments classified as Available-For-SaleFinancial Assets are not reversed through the IncomeStatement for the current period.

b. Fixed Income Investment Instruments Managed By The External Fund Managers

The impairment assessment on the Fixed Income Investment InstrumentsManaged By The ExternalFundManagers isconsistentwith themethodused for financialassetsclassifiedasHeld-To-MaturityInvestment Assets. The consistent criteriawere also used by the EPF to determinewhether there isan objective evidence of impairment that has occurred to the Fixed Income Investment InstrumentsManaged By The External FundManagers which has been classified as Available-For-Sale FinancialAssets as per the following triggers:

• Decline in investment grade rating below the investment grade as set out by the EPF as at theStatementOf Financial Position date.

• Default in paying principal/interest according to the repayment schedule.

• Cease business operations/bankruptcy (upon filing of the case).

• Winding up order on business operations.

• Company inwhich the EPF invested has been classified as Pn17.

• Material fraudwith publicised news/upon appointment of financial advisor.

• Company inwhich the EPF invested received aQualified Audit Certificate.





ii. Available-For-Sale Financial Assets (Cont’d.)

b. Fixed Income Investment Instruments Managed By The External Fund Managers (Cont’d.)

The amount of impairment loss for Fixed Income Investment Instrument Managed By The ExternalFundManagerswhichhasbeen classified asAvailable-For-SaleFinancialAssets ismeasured as thedifference between the carrying amount as at the Statement Of Financial Position date and thepresentvalueofestimatedfuturecashflowsdiscountedat thefinancialasset’soriginaleffectiveyieldmethod. The carrying value of this financial asset is reduced and the amount of the impairment lossis recognised in the IncomeStatement. If the revaluationmade in thesubsequentperiod reveals thatthe amount of impairment loss decreases and the decrease can be related objectively to an eventoccuring after the impairment was recognised, the reversal of the impairment loss is recognised inthe IncomeStatement.

4.8 Loans, Advances And Financing

Loans,AdvancesAndFinancingarenon-derivativefinancialassetsthatareclassifiedasLoansAndReceivablesunder FRS 139with fixed or determinable payments that are not quoted in an activemarket. Loans, AdvancesAnd Financing are recognised on the trade-date in which the EPF commits to give out loan plus relatedtransaction costs, if any. The subsequent measurement of this financial asset is at amortised cost using theeffective yieldmethod.

TheGroupandEPFhadassessedwhether there is objective evidence thatLoans,AdvancesAndFinancingareimpaired on specific interval basis. This financial asset is considered impaired when there is an objectiveevidenceresultingfromseveraltriggersthatoccurredaftertheinitialrecognitionofthefinancialasset ismadewhich has an impact to the estimated future cash flows of the financial assets that can be reliably estimated.

The criteria used by the EPF to determinewhether there is an objective evidence of impairment has occurredfor Loans, Advances And Financing include the following triggers:

i. Decline in investmentgrade ratingbelow the investmentgradeassetoutby theEPFasat theStatementOf Financial Position date.

ii. Default in paying principal/interest according to the repayment schedule.

iii. Borrower ceased business operations/bankruptcy (upon filing of the case).

iv. Borrower receivedwinding up order on business operations.

v. Material fraudwith publicised news/upon appointment of financial advisor.

vi. Borrower received aQualified Audit Certificate.

The amount of impairment loss is measured as the difference between the carrying amount of the Loans,Advances And Financing and the present value of estimated future cash flows discounted at the financialasset’s original effective yield method. The carrying value of the Loans, Advances And Financing is reducedthrough the use of an allowance account and the amount of the impairment loss is recognised in the IncomeStatement.

If the revaluation made in the subsequent period reveals that the amount of impairment loss decreases andthedecreasecanberelatedobjectively toaneventoccuringafter the impairmentwasrecognised, thereversalof the previously recognised impairment loss is recognised in the IncomeStatement.




4.8 Loans, Advances And Financing (Cont’d.)

WhentheLoans,AdvancesAndFinancing isuncollectible, it iswrittenoffagainst theallowancefor impairmentloss account. Such assets are written off after all the necessary procedures have been completed and theamount of the loss has been determined.

Included in Loans, Advances And Financing are Staff Loans financial assets. There is no significant impact tostate Staff Loans financial assets at fair value in the subsequentmeasurement. There are three types of loanschemes offered to the EPF’s staffs at the interest rate approved by the Board based on the terms andconditions of service as follows:

i. Housing Loan Scheme;

ii. Vehicle Loan Scheme; and

iii. Personal Loan Scheme.

The fundused to finance staff loans for the abovementioned three schemes is considered asEPF investmentsofwhich the fund allocation usage is subject to the limit approved by theBoard.

4.9 Revenue Recognition

Revenuecomprises the fairvalueof theconsiderationreceivedorreceivable for thesaleofgoodsandservicesin theordinary courseof theGroup’s activities.Revenue is shownnet of valueadded tax, returns, rebatesanddiscounts and after eliminating saleswithin theGroup.

TheEPF recognises revenuewhen the amount of revenue can be reliablymeasured, it is probable that futureeconomic benefits will flow to the entity and specific criteria have beenmet for each of the Group’s activitiesas described below.

The amount of revenue is not considered to be reliablymeasurable until all contingencies relating to the salehave been resolved. TheGroup bases its estimates on historical results, taking into consideration the types ofcustomer, the types of transaction and the specifications of each arrangement.

i. Recognition Of Investment Income

Dividend from domestic Available-For-Sale Financial Assets, interest from Held-To-Maturity InvestmentAssets,interestfromLoans,AdvancesAndFinancing,interestfromDepositsWithFinancialInstitutionsandRental Income are recognised on an accrual basis.

ii. Recognition Of Income On Granting Of Loans And Financing (MBSB)

Interest income and income from the Islamic Banking Scheme business are recognised on an accrualbasis. When an account is classified as non-performing, interest is suspended with retrospectiveadjustmentsmade to thedateof firstdefaultuntil it is realisedonacashbasis.Customers’accountsareclassified as non-performingwhere repayments are in arrears for sixmonths ormore.

Loan arrangement fees and commissions are recognised as income based on contractual arrangements.

iii. Recognition Of Income On Sale Of Properties (MBSB)

Revenue fromsaleofproperties isaccounted forby thestageof completionmethodasdescribed innote4.17. Commitment fees are recognised as income based on time apportionment. Income from projectmanagement is recognised as andwhen the service is rendered.




4.9 Revenue Recognition (Cont’d.)

iv. Interest And Dividend On Contributions Paid Late

Interest AndDividendOnContributionsPaid Late are accounted for on a cash received basis.

v. Interest On Loans, Advances And Financing (MBSB)

Inrespectofendfinancing, interestreceivable iscomputedatyearlyandmonthlyrests.Foryearlyrests,interest debited to the loans account in any year is based on the balance outstanding on 31 Decemberof the previous year, and on loans disbursed during the year, interest is charged accordingly from theday of disbursement to the end of the financial year in which it is made. For monthly rests, interestdebitedtotheloansaccount inanymonth isbasedonthebalanceoutstandingat theendof thepreviousmonth, and on loans disbursedduring themonth, interest is computed from the day of disbursement tothe end of themonth inwhich it ismade.

In thecaseofbridgingand term loans, interest receivable iscomputedonmonthly restsso that interestdebited to the bridging and term loans account in anymonth is based on the balance at the end of theprevious month, and on loans disbursed during the month, interest is computed from the day ofdisbursement to the end of themonth inwhich it ismade.

vi. Accretion/(Amortisation) Of Discount/Premium On Financial Assets

Accretion/(amortisation)ofdiscount/premiumon fixed income investment instrument financialassetsarerecognised using the effective yieldmethod.

4.10 Property, Plant And Equipment And Depreciation

Property,PlantAndEquipmentarestatedatcostafterdeductionofaccumulateddepreciationandaccumulatedimpairment loss. Cost includes expenditure that is directly attributable to the acquisition of the items.Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, asappropriate, only when it is probable that future economic benefits associated with the itemwill flow to theGroup and the cost of the item can bemeasured reliably.

The carrying amount of the replaced part is derecognised. All other repairs andmaintenance are charged tothe IncomeStatement during the financial year inwhich they are incurred.

Freehold Land and Work-In-Progress are not depreciated. All other Property, Plant And Equipment aredepreciated using straight linemethod based on the estimated useful life at the following rates:

Buildings 2%–3% BuildingPlant AndMachinery 10%–20% Office/BuildingRenovation 10%–20% Furniture, Fixtures And Fittings 20% Motor Vehicles 20% Office Equipment 20% Computer Software AndHardware 20%–33%

Furniture, Fixtures And Fittings and Office Equipment which costs below RM1,000.00 per unit is depreciatedfully in the year of acquisition.




4.10 Property, Plant And Equipment And Depreciation (Cont’d.)

Office/BuildingRenovationvaluedatRM100.00thousandandaboveiscapitalised.Forrenovationofwhichtheproject cost is less thanRM100.00 thousand, such renovation cost is charged to current year expenses.

Residual values and useful lives of assets are reviewed, and adjusted if appropriate, at each Statement OfFinancial Position date. At each Statement Of Financial Position date, the Group assesses whether there isany indication of impairment. Revaluation on properties is made once every five years, to assess for anyindication of impairment. If such indications exist, an analysis is performed to assess whether the carryingamount of the asset is fully recoverable. An Impairment Loss is recognised if the carrying amount exceedsthe recoverable amount as disclosed innote 4.12.

Thedepreciation rateon thepurchaseof completedbuildingofwhich the cost of landandbuilding couldnotbe specifically identified at the acquisition stagewill follow the depreciation rate of buildingwhich is at 2%.

Upon the disposal of Property, Plant And Equipment, the difference between the net disposal proceeds andthecarryingamount is recognised in the IncomeStatement. If changesoccuredon the intentionofutilisationof Owned Used Property to Investments Property, such property will be revalued based on fair value andthereafter reclassified as Investment Property.

4.11 Investment Properties

Investment Properties, comprising principally land and office buildings, are held for long term rental yieldsor for capital appreciation or both, and are not occupied by the Group. Investment Properties are stated atcost less any accumulated depreciation and accumulated impairment losses. Investment Properties aredepreciated on a straight line basis to write off the cost of the assets to their residual values over theirestimated useful life of 40–50 years. On disposal of an Investment Property, or when it is permanentlywithdrawn from use and no future economic benefits are expected from its disposal, it shall be eliminatedfrom the StatementOf Financial Position.

The difference between the net disposal proceeds and the carrying amount is recognised in the IncomeStatement in the period of the retirement or disposal.

The depreciation rate for building which has been classified as Investment Property is at 2%–3% as statedinnote 4.10.

4.12 Impairment Of Non-Financial Assets

non–financialassetsthathaveindefiniteusefullifearenotsubjecttoamortisationandareassessedannuallyfor impairment.non–financialassets thataresubject toamortisationarereviewed for impairmentwheneverevents or changes in circumstances indicate the carrying valuemay not be recovered.

An impairment loss is recognised when the carrying value of non–financial assets exceeds its recoverableamount.Therecoverableamount is thehigherof fairvalueofnon–financialassets lesscosts tosellorvalue inuse.

Forthepurposesofassessing impairment,non–financialassetsaregroupedat thelowest level forwhichcashflows (cash–generating units) can be separately identified. non–financial assets other than Goodwill thatsuffered an impairment are reviewed for possible reversal of the impairment at each reporting year.




4.12 Impairment Of Non–Financial Assets (Cont’d.)

An impairment loss is charged to the Income Statement. In respect of other non–financial assets, anysubsequent increase in the recoverable amount is recognised in the Income Statement except for thereversal of an impairment loss on a revalued non–financial assets in which it is accounted for in theRevaluation Surplus Account.

4.13 Accounting For Members’ Contributions

Contributions are credited to members’ account following the contribution month on cash received basisexcept for cases of which crediting is based on Invocation of Section 50(3), EPF Act, 1991 is in accordancewithnote 4.24.

4.14 Receivables

Receivables financial asset are carried at invoice amount less allowance for impairment loss. There is nosignificant impact to state Receivables financial asset at fair value in the subsequent measurement. Anallowance for impairment loss ismade when there is objective evidence that the Group will not be able tocollect all amounts due according to the original terms of Receivables as disclosed innote 4.8.

4.15 Assets Held For Sale

non–Current Assets (or disposal Groups) classified as Assets Held For Sale are stated at the lower ofcarrying amount and fair value less costs to sell, if their carrying amount is recoveredprincipally throughasale transaction rather than through a continuing use.

4.16 Land Held For Property Development

LandHeldForPropertyDevelopmentconsistsof landwherenodevelopmentactivitieshavebeencarriedoutor where development activities are not expected to be completed within the normal operating cycle. Suchland isclassifiedwithinnon–CurrentAssetsand isstatedatcosts lessanyaccumulated impairment losses.The policy for the recognition andmeasurement of impairment loss is in accordancewithnote 4.12.

4.17 Property Development Costs

Property Development Costs comprise of all costs that are directly attributable to development activities orthat can be allocated on reasonable basis to such activities. When the financial outcome of a developmentactivitycanbereliablyestimated,propertydevelopment revenueandexpensesarerecognised in the IncomeStatement using the stage of completionmethod. The stage of completion is determined by the proportionthat property development costs incurred for work performed to date bear to the estimated total propertydevelopment costs.

Where the financial outcome of a development activity cannot be reliably estimated, property developmentrevenueisrecognisedonlytotheextentpropertydevelopmentcosts incurredwillberecovered,andpropertydevelopmentcostsonpropertiessoldarerecognisedasanexpense in theperiod inwhichtheyare incurred.Any expected loss on a development project, including costs to be incurred over the defects liability period,is recognised as an expense immediately.




4.17 Property Development Costs (Cont’d.)

PropertyDevelopmentCostscapitalisedasanexpensearerecognisedasanasset, ismeasuredat the lowerof cost and net realisable value. The excess of revenue recognised in the IncomeStatement over billings topurchasers is classifiedasaccruedbillingswithin trade receivablesand theexcessofbillings topurchasersover revenue recognised in the Income Statement is classified as progress billingswithin trade payables.

4.18 Inventories Of Completed Properties

Inventories Of Completed Properties are stated at the lower of cost (determined on specific identificationbasis) and net realisable value. Cost includes costs of land, construction and appropriate developmentoverheads.

4.19 Provision For Employee Benefits

a. Short Term Benefits Wages, salaries,bonusessocial security contributionsandgratuitypaid to contract staff are recognised

as an expense in the year in which the associated services are rendered by employees of the Group.Shorttermaccumulatedcompensatedabsencessuchaspaidannualleavearerecognisedwhenservicesare rendered by employeeswhereas short term non–accumulated compensated absences such as sickleave are recognisedwhen absences occur.

b. Defined Contribution Plans Contribution ismade to the EPF for employees who have elected to receive EPF benefits and also the

Government Pension Fund for those in the pensionable scheme.

c. Long Term Benefits TheEPFhasadoptedFRS119(EmployeeBenefits)ofwhichpaymentforlongtermbenefitstoemployees

afterretirementand/orafter thecompletionofcontractservice isrecognisedonanaccrualbasis in thecurrent year Income Statement as employee benefit expenses whereas in the Statement Of FinancialPositionsuchamount isrecognisedas liabilityknownasProvisionForEmployeeBenefits.Typesof longterm benefit whichwill be recognised on an accrual basis are as follows:

i. Post–EmploymentMedical Benefit; and

ii. Cash award in lieu of annual leave (inclusive of the employer share on contribution for suchpayment).

The computation on post–employment medical benefits is determined by an actuarial valuation everythree years. The principal assumptions used on the actuarial valuation are:

i. An inflation rate of 5% per annum on themedical treatment cost; and

ii. A discount rate of 7% per annum.

The net cumulative actuarial gains and losses in excess of 10% of the present value of the benefitobligation is recognised in the IncomeStatement over the expected average remainingworking lifes ofthe employees of 17 years.

The computation of cash in lieu of annual leave payable to retirees is based on the actual informationavailableasat theStatementOfFinancialPositionand theeligibility isbasedon the termandconditionof service. The current salary rate is used to compute these liabilities.




4.19 Provision For Employee Benefits (Cont’d.)

d. Termination Benefits TerminationBenefits are payablewhenever an employee accepts voluntary redundancy in exchange for

these benefits. TheGroup recognises termination benefitswhen it is demonstrably committed to eitherterminate the employment of current employees according to a detailed formal planwithout possibilityof withdrawal or to provide termination benefits as a result of an offer made to encourage voluntaryredundancy.

e. Equity Compensation Benefits (MBSB) The MBSB Share Option Scheme (“ESOS”) allows its staff (including executive directors) other than

subsidiarieswhicharedormant,toacquireordinarysharesofthesubsidiarycompany.nocompensationcost or obligation is recognised.When the options are exercised, equity is increased by the amount ofthe proceeds received.

4.20 Provision For Liabilities

ProvisionForLiabilitiesarerecognisedwhen thesubsidiaryhasapresentobligationasaresultofpasteventand it is probable that an outflow of resources embodying economic benefits will be required to settle theobligation,anda reliableestimateof theamountcanbemade.Provisionsare reviewedateachStatementOfFinancial Position date and adjusted to reflect the current best estimate.Where the effect of the time valueof money is material, the amount of a provision is the present value of the expenditure expected to berequired to settle the obligation.

4.21 Taxation

The EPF is exempted from income tax on its income under paragraph 20 – Schedule 6, Part 1, Income TaxAct, 1967.

Income tax of the subsidiary company on the profit or loss for the year comprises of current and deferredtax.Current tax is theexpectedamountof income taxespayable in respectof the taxableprofit for the yearand ismeasured using the tax rates that have been enacted at the Statement Of Financial Position date.

Deferred tax is provided for, using the liability method, on the temporary differences at the Statement OfFinancial Position date between the tax bases of assets and liabilities and their carrying amounts in theFinancialStatements.Inprinciple,deferredtaxliabilitiesarerecognisedforalltaxabletemporarydifferencesand deferred tax assets are recognised for all deductible temporary differences, unused tax losses andunused tax credits to the extent that it is probable that taxable profit will be available against which thedeductible temporary differences, unused tax losses and unused tax credits can be utilised.

Deferred tax is not recognised if the temporary differences arises from Goodwill or negative Goodwill orfrom the initial recognition of an asset or liability in a transactionwhich is not a business combination andat the time of the transaction, affects neither accounting profit nor taxable profit.

Deferred tax ismeasuredat the taxrates thatareexpected toapply in theperiodwhen theasset isrealisedorthe liability is settled, based on tax rates that have been enacted or substantively enacted at the Statement OfFinancial Position date. Deferred tax is recognised in the Income Statement, except when it arises from atransaction which is recognised directly in equity, in which case the deferred tax is also charged or crediteddirectly in equity, or when it arises from a business combination that is an acquisition, in which case thedeferred tax is included in the resultingGoodwill ornegativeGoodwill.




4.22 Dividend Credited/Paid To Members

Annual dividend is calculated on the opening balance as at 01 January (less withdrawals) and dividend onmonthlycontributions followingcontributionsmonthandcredited to themembers’accountat theendof thefinancial year.Dividendonwithdrawals is calculated from thebeginningof the year inwhich thewithdrawalismadeuntil thedate thecontributions’account isdebited.Thecontributionsandminimumannualdividendof 2.50%are guaranteed by theGovernment. Income received in the current year is distributed tomembersto the maximum after taking into account all expenditures inccured, based on the EPF accounting policiesapproved by theBoard.

4.23 Foreign Currency

a. Functional And Presentation Currency Items included in the financial statements of each of the Group’s entities are measured using the

currency of the primary economic environment in which the entity operates (the functional currency).The Financial Statements are presented in Ringgit Malaysia, which is the EPF’s functional andpresentation currency.

b. Transactions And Balances Foreign currency transactions are translated into the functional currency using the exchange rates

prevailing at the dates of the transactions. Financial assets and liabilities in foreign currency aretranslated using the exchange rate as at the Statement Of Financial Position date. The differenceresulted from the settlement of foreign currency transactions and from the the translation of financialassets and liabilities in foreign currency is recognised in the Income Statement.

4.24 Reserve Section 50(3)

Reserve Section 50(3) is created under Section 15, EPF Act, 1991. The reserve is created to finance theimplementation of Section 50(3), EPF Act, 1991 which require the EPF Board to pay the employees’ share ofcontributionsaswellasdividendattributableon thesaidcontribution fordeduction thathasbeenmadeon theemployees’ salary should the employers fail to pay the share of such contributions. Any amount in excess/deficit of RM40.00millionwill be transferred to/from accumulated surplus.

4.25 Available-For-Sale Financial Assets Reserve

Available-For–SaleFinancialAssetsReservehasbeenestablishedtoaccountforthemovementinchangeoffairvalue of financial asset which is classified as Available-For-Sale Financial Assets. The Available-For-SaleFinancialAssetsReserveAccount is creditedwhen there is apositive change in the fair valueofAvailable-For-Sale Financial Assets. On the contrary, this reserve account is debitedwhen there is a negative change in thefair value of Available-For-Sale Financial Assets or when there is a disposal of Available-For-Sale FinancialAssets.When impairment lossoccurred toany itemclassifiedasAvailable-For-SaleFinancialAssets, thewholebalance which exists in the Available-For-Sale Financial Assets Reserve of the related items will be recycledwhere the impairment loss is recognised in full in the IncomeStatement.

4.26 Contingent Liabilities And Contingent Assets

TheGroup does not recognise a Contingent Liability but discloses its existence in the Financial Statements.AContingentLiability isapossibleobligation thatarises frompasteventswhoseexistencewillbeconfirmedbytheoccurrenceornon-occurrenceofoneormoreuncertainfutureeventsbeyondthecontroloftheGrouporapresentobligation that isnot recognisedbecause it isnotprobable thatanoutflowof resourceswillberequired to settle the obligation.




4.26 Contingent Liabilities And Contingent Assets (Cont’d.)

A Contingent Liability also arises in the extremely rare case where there is a liability that cannot berecognised because it cannot bemeasured reliably.

A Contingent Asset is a possible asset that arises from past events whose existence will be confirmed bythe occurrence or non-occurrence of one ormore uncertain future events beyond the control of the Group.The Group does not recognise Contingent Assets but discloses its existence where inflows of economicbenefits are probable, but not virtually certain.

4.27 Cash And Cash Equivalents

Cash And Cash Equivalents consist of cash in hand and at banks and deposits with financial institutions tofacilitate any need of liquidity.

4.28 Intangible Assets

The expenditure incurred on the Information Technology Software Licence ismeasured on recognition cost.Subsequenttothe initialrecognition, IntangibleAssetsarecarriedatcost lessanyaccumulatedamortisationand any accumulated impairment loss. Intangible Assets are amortised on a straight line basis over theestimated economic useful life for five years and assessed for impairmentwhenever there is indication thatthe intangible assetmay be impaired.

4.29 Leases

a. Leases – Where The Group Is Lessee

Operating Lease

Leases of assetswhere a significant portion of the risks and rewards of ownership are retained by thelessor are classified as operating leases.Paymentsmadeunder operating leases (net of any incentivesreceived from the lessor) are charged to the IncomeStatement on a straight line basis over the periodof the lease.

The up front paymentsmade for leasehold land represent prepaid lease rentals and are amortised onstraight line basis over the lease term.

Where an operating lease is terminated before the lease period has expired, any payment required tobe made to the lessor by way of penalty is recognised as an expense in the period when terminationtakes place.

b. Leases – Where The Group Is Lessor

Operating Lease

When assets are leased out under an operating lease, the asset is included in the Statement OfFinancial Position based on the nature of the asset. Lease income is recognised over the term of thelease on a straight line basis.




4.30 Deferred Profit Guarantee

Income fromProfitGuarantee on residential parcels sold is recognisedwithin 60 days after the expiry of 12months from the date of launching.

Income fromProfit Guarantee on residential parcels sold or not sold is recognisedwithin 60 days after theexpiry of 24months from the date of launching.

Income received for such activities that take place after the financial year is taken up as deferred income.

4.31 Rental Guarantee

Rental Guarantee are fair value on inception excluding Value Added Tax (VAT). Cash received under theinstrument is allocated to the asset. The fair value of the rental guarantee is assessed on an annual basiswith anymovements being recognised under finance costs in the Income Statement.

5. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, bydefinition, rarely equal the related actual results.

To enhance the information content of the estimates, certain key variables that are anticipated to have materialimpact to the Group’s result and financial position are tested for sensitivity to changes in the underlyingparameters.

Theestimatesandassumptionsthathaveasignificantriskofcausingamaterialadjustmenttothecarryingamountsof assets and liabilitieswithin the next financial year are outlined below:

5.1 Post-Employment Benefit Obligation

The present value of the Post–Employment Medical Obligations depend on a number of factors that aredetermined on an actuarial basis using a number of assumptions. The assumptions used in determining thenet cost for post–employment medical include the discount rate and the expected medical cost rate. Anychanges in these assumptionswill impact the carrying amount of pension obligations.

The Group determines the appropriate discount rate at every three years for actuarial valuation. The latestactuarialvaluationwasdoneinyear2009.Thisistheinterestratethatshouldbeusedtodeterminethepresentvalue of estimated future cash outflows expected to be required to settle the pension obligations.

In determining the appropriate discount rate, the Group considers the interest rates of high–quality CorporateBonds that are denominated in the currency inwhich thebenefitswill be paid, and that have term tomaturityapproximating the terms of the related liability.

Themedical cost rate is based on the average historical cost incured by the EPF.

Where the expectedmedical cost rate differ by 10% from themanagement’s estimates, the carrying amount ofPost–EmploymentMedical Benefit Obligationswould be estimated at RM14.17million higher or RM12.75millionlower.



6. DEFERRED TAX

GROUP

2011 2010(RM’000) (RM’000)

AsAt 01 January 18,880 17,329AmountRecognised In The IncomeStatement 5,231 1,551

As At 31 December 24,111 18,880

ThefollowingAmountDeterminedAfterAppropriateSetOffInTheStatementOfFinancialPosition:Deferred Tax Assets (881) (376)Deferred Tax Liabilities 24,992 19,256

24,111 18,880

The components and movements in Deferred Tax Assets and Liabilities during the financial year comprise thefollowings:

6.1 DEFERRED TAX ASSETS/LIABILITIES

UnutilisedTax

Losses

(RM’000)

Fair ValueAdjustment

From Business

Combinations(RM’000)

PropertyPlant And

Equipment

(RM’000)

OtherTemporary

Differences

(RM’000)

Total

(RM’000)

AsAt 01 January 2011 (1,152) 23,604 (3,647) 75 18,880AmountRecognised In IncomeStatement 271 – 4,960 – 5,231

As At 31 December 2011 (881) 23,604 1,313 75 24,111

AsAt 01 January 2010 (1,152) 23,679 (5,273) 75 17,329AmountRecognised In IncomeStatement – (75) 1,626 – 1,551

AsAt 31December 2010 (1,152) 23,604 (3,647) 75 18,880



7. PROPERTY, PLANT AND EQUIPMENT

7.1 GROUP

2011COST

As At01 January

(RM’000)

Additions

(RM’000)

(Disposals)/Adjustments/

Reclassification(RM’000)

Written Off

(RM’000)

Reversal OfImpairment

(RM’000)

As at31 December

(RM’000)

Freehold Land 29,318 – (13,494) – – 15,824Buildings 395,081 21,954 5,415 – – 422,450BuildingPlant AndMachinery 34,921 2,689 – – – 37,610Office/BuildingRenovation 114,251 20,548 (848) – (14) 133,937Furniture, Fixtures And Fittings 51,831 3,372 35 (62) – 55,176Motor Vehicles 5,635 929 (373) (798) – 5,393Office Equipment 92,129 1,183 2,728 (349) – 95,691Computer Software AndHardware 161,168 22,265 26,088 (934) – 208,587Work-In-Progress 85,927 54,024 (80,064) – – 59,887

970,261 126,964 (60,513) (2,143) (14) 1,034,555

2011ACCUMULATED DEPRECIATION

Freehold Land 371 – – – – 371Buildings 183,867 10,775 7,277 – (6,484) 195,435BuildingPlant AndMachinery 28,910 1,049 – – – 29,959Office/BuildingRenovation 81,423 11,774 1,080 – – 94,277Furniture, Fixtures And Fittings 48,195 1,892 – (62) – 50,025Motor Vehicles 3,983 576 (372) (798) – 3,389Office Equipment 87,232 2,174 – (347) – 89,059Computer Software AndHardware 146,760 19,959 3,859 (934) – 169,644

580,741 48,199 11,844 (2,141) (6,484) 632,159



7. PROPERTY, PLANT AND EQUIPMENT (CONT’D.)

7.1 GROUP (Cont’d.)

2010COST

As At01 January

(RM’000)

Additions

(RM’000)



Written Off

(RM’000)


(RM’000)

As at31 December

(RM’000)

Freehold Land 26,412 9,968 (7,062) – – 29,318Leasehold Land 29,465 – (29,465) – – –Buildings 408,522 19,303 (32,015) (729) – 395,081BuildingPlant AndMachinery 30,523 4,353 71 (26) – 34,921Office/BuildingRenovation 87,496 11,862 14,893 – – 114,251Furniture, Fixtures And Fittings 50,543 1,596 (77) (231) – 51,831Motor Vehicles 5,184 1,139 (76) (612) – 5,635Office Equipment 90,730 1,065 1,217 (883) – 92,129Computer Software AndHardware 153,953 4,555 3,427 (767) – 161,168Work-In-Progress 95,734 12,893 (22,700) – – 85,927

978,562 66,734 (71,787) (3,248) – 970,261


Freehold Land 371 – – – – 371Leasehold Land 294 – (294) – – –Buildings 181,658 10,825 (8,338) (278) – 183,867BuildingPlant AndMachinery 28,325 606 2 (23) – 28,910Office/BuildingRenovation 71,772 10,733 (1,082) – – 81,423Furniture, Fixtures And Fittings 46,554 1,922 (50) (231) – 48,195Motor Vehicles 4,200 396 (1) (612) – 3,983Office Equipment 86,058 2,054 – (880) – 87,232Computer Software AndHardware 139,274 8,766 (513) (767) – 146,760

558,506 35,302 (10,276) (2,791) – 580,741




7.2 EPF

2011COST

As At01 January

(RM’000)

Additions

(RM’000)



Written Off

(RM’000)


(RM’000)

As at31 December

(RM’000)

Buildings 241,609 616 – – – 242,225BuildingPlant AndMachinery 34,920 2,689 – – – 37,609Office/BuildingRenovation 95,721 15,387 215 – – 111,323Furniture, Fixtures And Fittings 27,709 593 38 (62) – 28,278Motor Vehicles 4,776 929 – (798) – 4,907Office Equipment 91,886 1,085 2,728 (349) – 95,350Computer Software AndHardware 146,922 21,260 26,464 (934) – 193,712Work-In-Progress 87,441 54,024 (80,064) – – 61,401

730,984 96,583 (50,619) (2,143) – 774,805


Buildings 97,603 7,144 – – – 104,747BuildingPlant AndMachinery 28,910 1,049 – – – 29,959Office/BuildingRenovation 70,121 9,740 – – – 79,861Furniture, Fixtures And Fittings 26,826 656 – (62) – 27,420Motor Vehicles 3,326 487 – (798) – 3,015Office Equipment 87,139 2,130 – (347) – 88,922Computer Software AndHardware 135,474 19,423 4,232 (934) – 158,195

449,399 40,629 4,232 (2,141) – 492,119




7.2 EPF (Cont’d.)

2010COST

As At01 January

(RM’000)

Additions

(RM’000)



Written Off

(RM’000)


(RM’000)

As at31 December

(RM’000)

Buildings 241,460 724 154 (729) – 241,609BuildingPlant AndMachinery 30,522 4,353 71 (26) – 34,920Office/BuildingRenovation 70,684 7,738 17,299 – – 95,721Furniture, Fixtures And Fittings 27,337 572 31 (231) – 27,709Motor Vehicles 4,400 988 – (612) – 4,776Office Equipment 90,487 1,065 1,217 (883) – 91,886Computer Software AndHardware 139,666 4,095 3,928 (767) – 146,922Work-In-Progress 97,248 12,893 (22,700) – – 87,441

701,804 32,428 – (3,248) – 730,984


Buildings 90,695 7,186 – (278) – 97,603BuildingPlant AndMachinery 28,325 606 2 (23) – 28,910Office/BuildingRenovation 60,977 9,146 (2) – – 70,121Furniture, Fixtures And Fittings 26,410 647 – (231) – 26,826Motor Vehicles 3,679 259 – (612) – 3,326Office Equipment 86,001 2,018 – (880) – 87,139Computer Software AndHardware 127,956 8,285 – (767) – 135,474

424,043 28,147 – (2,791) – 449,399




7.3 NET BOOK VALUE

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Freehold Land 15,453 28,947 – –Buildings 227,015 211,214 137,478 144,006BuildingPlant AndMachinery 7,651 6,011 7,650 6,010Office/BuildingRenovation 39,660 32,828 31,462 25,600Furniture, Fixtures And Fittings 5,151 3,636 858 883Motor Vehicles 2,004 1,652 1,892 1,450Office Equipment 6,632 4,897 6,428 4,747Computer Software AndHardware 38,943 14,408 35,517 11,448Work-In-Progress 59,887 85,927 61,401 87,441

402,396 389,520 282,686 281,585

8. INVESTMENT PROPERTIES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

NET BOOK VALUEAsAt 01 January As StatedBefore 3,698,854 1,775,813 1,429,496 1,109,567 Reclasification FromProperty, Plant And Equipment – 29,170 – – Reclassification To AssetsHeld For Sale (3,191) – – – Currency TranslationDifferences 60,651 – – – AdjustmentOnCost (5,343) (16,351) (5,964) –

Restated Amount 3,750,971 1,788,632 1,423,532 1,109,567Additions 3,406,842 1,995,761 605 352,749net LossOn Fair Value AdjustmentOnGlobal Investment Property (199,813) (40,828) – –Disposals (15,646) (2,010) (146) (2,010)

Depreciation (49,107) (43,032) (37,219) (31,141)AdjustmentOnDepreciation – (266) – (266)

(49,107) (43,298) (37,219) (31,407)AdjustmentOnAccumulatedDepreciation OnDisposals – 597 – 597Reversal Ofnet Impairment Loss 11,974 – 11,974 –

As At 31 December 6,905,221 3,698,854 1,398,746 1,429,496



9. INTANGIBLE ASSETS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

AsAt 01 January 27,585 30,110 25,623 29,199Reclasification FromProperty, Plant And Equipment (4,558) – (4,558) –

23,027 30,110 21,065 29,199Additions/(Less) 1,266 11,854 – 10,437ReclassificationOfDepreciation ToProperty, Plant And Equipment 4,232 – 4,232 –Amortisation (15,421) (14,379) (14,761) (14,013)

As At 31 December 13,104 27,585 10,536 25,623

10. PREPAID LAND LEASE

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

CostAsAt 01 January 156,909 141,770 130,052 130,052Adjustment (15,139) – – –

As At 31 December 141,770 141,770 130,052 130,052

Accumulated Amortisation/Impairment LossAsAt 01 January 24,833 23,489 22,901 21,722

Amortisation 1,352 1,324 1,187 1,159AdjustmentOnAmortisation – 20 – 20

1,352 1,344 1,187 1,179Reversal Of Impairment Loss (9,342) – (9,342) –

As At 31 December 16,843 24,833 14,746 22,901

Net Book Value As At 31 December 124,927 116,937 115,306 107,151



11. ASSETS HELD FOR SALE

GROUP

2011 2010Cost/ Market Cost/ Market

Book Value Value Book Value Value(RM’000) (RM’000) (RM’000) (RM’000)

Ordinary Equities – – 209,355 580,898PropertyHeld For Sale 17,913 23,610 – –

Investment PropertyFreehold/LeaseholdBuildings 3,710 3,191 – –AccumulatedDepreciation (519) – – –

21,104 26,801 209,355 580,898

EPF

2011 2010Cost/ Market Cost/ Market

Book Value Value Book Value Value(RM’000) (RM’000) (RM’000) (RM’000)

Ordinary Equities – – 209,355 580,898PropertyHeld For Sale 17,913 23,610 – –

17,913 23,610 209,355 580,898

Included in Assets Held For Sale of the Group is 27 unit hostels in Kuala Lumpur. As for the EPF is in respect ofproperty located inBandar InderaMahkota, Kuantan, Pahang.

12. LAND HELD FOR PROPERTY DEVELOPMENT

GROUP AND EPF

2011 2010(RM’000) (RM’000)

Leasehold LandCost As At 01 January 64,954 64,946Additions – 8ReclassificationOf AssetsHeld For Sale (4,686) –ReclassificationOf PropertyDevelopment Cost (60,268) –

Total Cost/Carrying Value As At 31 December – 64,954



13. PROPERTY DEVELOPMENT COSTS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

AsAt 01 January: Freehold Land 11,446 11,446 – – Development Costs 154,297 154,208 148,140 148,051 AccumulatedCostsRecognised In IncomeStatement (8,992) (8,992) – – Development Costs Sold (6,442) (4,643) – –

150,309 152,019 148,140 148,051

CostsRecognisedDuring The Year: Freehold Land 64,697 – – – Development Costs 60,521 89 25 89

125,218 89 25 89

Reclassification To AssetsHeld For Sale (13,227) – (13,227) –

Reclassification FromLandHeld For PropertyDevelopment 60,268 – 60,268 –Disposal: Freehold LandDisposed – (1,799) – –

Property Development Costs As At 31 December 322,568 150,309 195,206 148,140

Included in the Property Development Costs of the Group for the current year is capitalised interest amountingRM1,129,631 (2010: RM1,129,631).

14. INVESTMENTS IN SUBSIDIARIES

EPF

2011 2010Cost/ Recoverable Cost/ Recoverable

Book Value Amount Book Value Amount(RM’000) (RM’000) (RM’000) (RM’000)

Domestic Quoted Equities 1,061,753 1,496,665 908,758 693,173

Allowance For Impairment Loss – (215,585)

1,061,753 693,173

DomesticUnquoted Equities 153,496 150,120 145,496 142,411

Allowance For Impairment Loss (3,376) (3,085)

150,120 142,411

1,211,873 835,584GlobalUnquoted Equities 5,836,262 5,836,262 1,994,618 1,994,618

Loans To Subsidiaries 450,000 –Advances To Subsidiaries 723,632 511,000Capital Advance * 24,504 24,291

1,198,136 535,291

8,246,271 3,365,493

* CapitalAdvanceswill becapitalisedasequity capital in the relatedSubsidiariesapprovedby theMinistryOfFinance.The list of subsidiaries are shown innote 44.



14. INVESTMENTS IN SUBSIDIARIES (CONT’D.)

Thematurity structure of the LoansAndAdvances to Subsidiaries are as follows:

EPF

2011 2010(RM’000) (RM’000)

Maturing After 12Months 1,198,136 535,291

1,198,136 535,291

15. INVESTMENTS IN ASSOCIATES

15.1 GROUP



Domestic Quoted Equities 6,652,641 8,683,349 6,647,581 9,593,714


6,085,181 6,032,353

DomesticUnquoted Equities 2,265,151 1,964,711 2,160,217 2,129,506


1,964,711 2,129,506

8,049,892 8,161,859

Loans 8,457,811 –PrivateDebt Securities 1,764,528 1,516,300

18,272,231 9,678,159



15. INVESTMENTS IN ASSOCIATES (CONT’D.)

15.1 GROUP (Cont’d.)



Add/(Less):Profit/(Loss)AndAdjustmentsOnAssociates:ProjekBandar Samariang SdnBhd – (3,117)PancaPesona SdnBhd 6,065 6,077MalaysianResourcesCorporationBhd (73,437) (103,788)Bandar Eco–Setia SdnBhd 83,949 60,135RHBCapital Berhad 1,864,959 1,530,772Iskandar InvestmentBerhad 247,180 (23,348)Sunway SouthQuay SdnBhd (817) 2,163HSBCAmanah Takaful (M) SdnBhd 335 (1,493)Malakoff CorporationBerhad 322,384 226,587Columbia Asia SdnBhd (43,710) (43,480)nusaGapurnaDevelopment SdnBhd 42,452 –PLUSMalaysia SdnBhd (128) –

2,449,232 1,650,508

20,721,463 11,328,667

Based on effective equity interest as of year end, the financial positions of the Associates are as follows:

GROUP

2011 2010(RM’000) (RM’000)

Assets 98,568,894 67,997,757Liabilities 88,758,223 60,712,659Revenue 6,438,962 5,074,472Profit After Taxation 882,609 828,910



15. INVESTMENTS IN ASSOCIATES (CONT’D.)

15.2 EPF



Domestic Quoted Equities 6,652,641 8,683,349 6,647,581 9,593,714


6,085,181 6,032,353

DomesticUnquoted Equities 2,265,151 1,964,711 2,160,217 2,129,506


1,964,711 2,129,506

8,049,892 8,161,859

Loans 8,457,811 –PrivateDebt Securities 1,764,528 1,516,300

18,272,231 9,678,159

Thematurity structureof theLoansandPrivateDebtSecurities of theAssociates are as follows:

GROUP AND EPF

2011 2010(RM’000) (RM’000)

MaturingWithin 12Months 8,457,811 –Maturing After 12Months 1,764,528 1,516,300

10,222,339 1,516,300

The list of Associates are disclosed innote 45.



16 HELD-TO-MATURITY INVESTMENT ASSETS

16.1 GROUP

2011 2010Amortised Amortised

Cost Cost(RM’000) (RM’000)

MalaysianGovernment Securities 88,201,196 90,923,386

Government Investment Issues 36,367,615 27,593,753

PrivateDebt Securities 45,334,419 41,563,419Allowance For Impairment LossOnHeld-To-Maturity Investment Assets (437,769) (438,362)

44,896,650 41,125,057

Commercial Papers – 180,655

Cagamas Securities 2,870,242 2,508,830

ConventionalBonds 1,826,083 2,386,304

IslamicBond 2,885,705 1,843,247

negotiable Certificates 150,000 750,000

negotiable IslamicCertificates – 389,889

177,197,491 167,701,121

Thematurity structure of theHeld-To-Maturity Investment Assets are as follows:

GROUP

2011 2010(RM’000) (RM’000)

MaturingWithin 12Months 9,829,584 11,199,063Maturing After 12Months 167,367,907 156,502,058

177,197,491 167,701,121



16 HELD-TO-MATURITY INVESTMENT ASSETS (CONT’D.)

16.2 EPF

2011 2010Amortised Amortised

Cost Cost(RM’000) (RM’000)

MalaysianGovernment Securities 88,201,196 90,923,386

Government Investment Issues 36,367,615 27,593,753

PrivateDebt Securities 45,130,065 41,563,419Allowance For Impairment LossOnHeld-To-Maturity Investment Assets (437,769) (438,362)

44,692,296 41,125,057

Commercial Papers – 180,655

Cagamas Securities 2,870,242 2,508,830

ConventionalBonds 1,826,083 2,386,304

IslamicBonds 2,885,705 1,843,247

negotiable Certificates 150,000 750,000

negotiable IslamicCertificates – 389,889

176,993,137 167,701,121

Thematurity structure of theHeld-To-Maturity Investment Assets are as follows:

EPF

2011 2010(RM’000) (RM’000)

MaturingWithin 12Months 9,829,584 11,199,063Maturing After 12Months 167,163,553 156,502,058

176,993,137 167,701,121



17. AVAILABLE-FOR-SALE FINANCIAL ASSETS

17.1 GROUP

2011 2010Fair Fair

Value Value(RM’000) (RM’000)

EQUITY INVESTMENT INSTRUMENTS

QUOTED EQUITIES

Domestic Equities InternallyManaged 94,132,933 91,518,022Domestic EquitiesManagedBy External FundManagers 9,663,451 11,454,966Global Equities InternallyManaged 28,149,769 21,475,789Global EquitiesManagedBy External FundManagers 17,281,440 15,823,782

149,227,593 140,272,559

UNQUOTED EQUITIES

UnquotedDomestic Equities 565,855 488,878UnquotedGlobal Equities 1,483,656 1,053,475

2,049,511 1,542,353

FIXED INCOME INVESTMENT INSTRUMENTS WITH EXTERNAL FUND MANAGER

Domestic Fixed Income Investment Instruments ManagedBy External FundManager 7,807,360 7,452,842Allowance For Impairment LossOnAvailable-For-Sale Financial Assets (177,732) (108,199)

7,629,628 7,344,643

Global Fixed Income Investment InstrumentsManagedBy External FundManager 4,244,673 2,303,306

11,874,301 9,647,949

OTHER INVESTMENT INSTRUMENTS

Quoted Loans Stock – 115,878

163,151,405 151,578,739



17. AVAILABLE-FOR-SALE FINANCIAL ASSETS (CONT’D.)

17.2 EPF

2011 2010Fair Fair


EQUITY INVESTMENT INSTRUMENTS

QUOTED EQUITIES

Domestic Equities InternallyManaged 94,132,933 91,518,022Domestic EquitiesManagedBy External FundManagers 9,663,451 11,454,966Global Equities InternallyManaged 28,149,769 21,475,789Global EquitiesManagedBy External FundManagers 17,281,440 15,823,782

149,227,593 140,272,559

UNQUOTED EQUITIES

UnquotedDomestic Equities 565,855 488,878UnquotedGlobal Equities 1,432,585 1,053,475

1,998,440 1,542,353

FIXED INCOME INVESTMENT INSTRUMENTS WITH EXTERNAL FUND MANAGER

Domestic Fixed Income Investment Instruments ManagedBy External FundManager 7,807,360 7,452,842Allowance For Impairment LossOnAvailable-For-Sale Financial Assets (177,732) (108,199)

7,629,628 7,344,643

Global Fixed Income Investment InstrumentsManaged By External FundManager 4,244,673 2,303,306

11,874,301 9,647,949

OTHER INVESTMENT INSTRUMENTS

Quoted Loans Stock – 115,878

163,100,334 151,578,739



18. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT/LOSS

18.1 GROUP

2011 2010Fair Fair


Global Alternative Investments 1,219,283 689,584Held-For-Trading Investment Assets 793,342 65,090Derivative Financial Assets 417,569 99,394EmbeddedDerivative Financial Assets 39,215 92,910

2,469,409 946,978

18.2 EPF

2011 2010Fair Fair


Global Alternative Investments 465,621 415,552Held-For-Trading Investment Assets 793,342 65,090Derivative Financial Assets 417,569 99,394EmbeddedDerivative Financial Assets 39,215 92,910

1,715,747 672,946



19. LOANS, ADVANCES AND FINANCING

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Guaranteed Loans 84,642,489 82,877,673 84,381,114 82,877,673End Finance: normalHousingProgramme 3,684,956 3,910,292 – – LowCostHousingProgramme 22,027 21,008 – –Islamic Loans: Property 1,855,080 1,873,299 – – Personal Loans 8,717,844 3,981,833 90 – Bridging And TermLoans 3,498,056 4,688,898 – – Staff Loans 132,747 128,786 106,540 106,483Conventional Loans: Staff Loans 99,629 103,908 99,629 103,908

Gross Loans, Advances And Financing 102,652,828 97,585,697 84,587,373 83,088,064Allowance Impairment LossOn Loans, Advances And Financing (2,691,826) (3,866,377) (72,377) (75,274)Interest/Income-In-Suspense – (65) – (65)

Net Loans, Advances And Financing 99,961,002 93,719,255 84,514,996 83,012,725

Thematurity structure of Loans, Advances And Financing are as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MaturingWithin 12Months 28,541,947 5,625,132 27,791,508 5,576,653Maturing After 12Months 74,110,881 91,960,565 56,795,865 77,511,411

102,652,828 97,585,697 84,587,373 83,088,064

Included in theBridgingAndTermLoansgrantedby theGroup inrespectof jointventureprojectsare the followingnon–performing loans amounts:

GROUP

2011 2010(RM’000) (RM’000)

Loans To Joint VenturePartners 44,784 138,616

DetailsonfinancialassetswithregardtoLoans,AdvancesAndFinancingwhichassessed impairedasat31December2011aredisclosed innote41.1a.Movementofaccumulated impairment losswhichhasbeenaccountedasAllowanceFor Impairment Loss onLoans,AdvancesAndFinancing is disclosed as stated innote 41.1c.



20. INVENTORIES OF COMPLETED PROPERTIES

GROUP

2011 2010(RM’000) (RM’000)

At Cost 219 160Atnet Realisable Value: LandHeld For Sale 121,620 121,620

121,839 121,780

no cost of inventories recognised as expenses in the current year (2010: RM974,000).

Included in the inventories are land acquired for developmentwith the following carrying amounts:

GROUP

2011 2010(RM’000) (RM’000)

TitleRegisteredUnder ThenameOf A Subsidiary 8,197 8,197

8,197 8,197

21. RECEIVABLES, DEPOSITS AND PREPAYMENTS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Prepayments AndDeposits 1,472 1,158 1,472 1,158Rental Deposits 32,827 32,275 1,744 1,777Rental Of Buildings 40,115 478 10,033 478UnsecuredAdvances For Joint VentureProjects 222,681 200,576 – –ForeclosedProperties 150,545 74,335 – –TradeReceivables 45,767 30,253 – –AccrualsOn SaleOfDomestic/GlobalEquities InternallyManaged 189,917 789,759 189,917 789,759

AccrualsOn SaleOf Fixed Income InvestmentsInternallyManaged 156,319 – 156,319 –

AccrualsOn SaleOf InvestmentManaged By External FundManagers 282,347 131,240 282,347 131,240

Transit CashAccountHeldBy External FundManagers 974,899 389,889 974,899 389,889

AccrualsOnMiscellaneousnon-Investments ItemsAndDeposits 112,210 90,825 4,354 6,016

DepositsWithBanknegaraMalaysia 24,500 – 24,500 –ServiceChargeReceivables 26,164 21,797 26,164 21,797

2,259,763 1,762,585 1,671,749 1,342,114Allowances For Impairment Losses (212,269) (182,839) (9,543) –

2,047,494 1,579,746 1,662,206 1,342,114

All Receivables, Deposits AndPrepayments arematuringwithin 12months.



22. DEPOSITS WITH FINANCIAL INSTITUTIONS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

LicensedBanks/IslamicBanks 10,001,196 15,898,191 9,977,296 15,582,587Licensed InvestmentBanks 2,066,520 4,429,992 2,050,000 4,429,992BanknegaraMalaysia 115,101 48,759 115,101 48,759Other Financial Institutions 3,815,727 3,357,045 2,644,426 2,604,187

15,998,544 23,733,987 14,786,823 22,665,525

Thematurity structure of DepositsWith Financial Institutions are as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MaturingWithin 12Months 15,998,544 23,733,987 14,786,823 22,665,525

15,998,544 23,733,987 14,786,823 22,665,525

23. PROVISION FOR EMPLOYEE BENEFITS

GROUP AND EPF

2011 2010(RM’000) (RM’000)

AsAt 01 January 139,802 123,635ProvisionMadeDuring The Year 23,725 20,787AdjustmentDuring The Year (260) (356)

163,267 144,066PaymentMadeDuring The Year (4,234) (4,264)

As At 31 December 159,033 139,802

Thematurity structure of theProvision For EmployeeBenefits are as follows:

GROUP AND EPF

2011 2010(RM’000) (RM’000)

MaturingWithin 12Months 326 719Maturing After 12Months 158,707 139,083

159,033 139,802



24. LOANS AND OVERDRAFTS

GROUP

2011 2010(RM’000) (RM’000)

BankBorrowings AndOverdrafts 1,481,752 200,119RecourseObligationsOn Loans Sold ToCagamasBerhad 551,676 964,093OtherBorrowings 4,500 4,500

2,037,928 1,168,712

Thematurity structure of the LoansAndOverdrafts are as follows:

GROUP

2011 2010(RM’000) (RM’000)

MaturingWithin 12Months 292,331 209,644Maturing After 12Months 1,745,597 959,068

2,037,928 1,168,712

The following detail in respect of Loans AndOverdrafts is as follows:

24.1 BANK BORROWINGS

Bankborrowingsareunsecuredand interestchargedontheseborrowings isbasedonthe lenders’costof fundsplus 0.50%.Thebankborrowingsareduewithin one year.

25. DEPOSITS AND ADVANCES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Employers’ Instalments 42,205 44,731 42,205 44,731Remittance Suspense 5,608 4,810 5,608 4,810Clients’ Deposits 13,512,476 10,483,743 – –Deposits FromSubsidiaries – – 69 75Deposits Of OfficeRentals 47,935 12,909 13,598 12,909Advances For Joint VentureProjects 90,035 78,132 90,035 78,132MiscellaneousDeposits 1,377 182 1,377 182

13,699,636 10,624,507 152,892 140,839



25. DEPOSITS AND ADVANCES (CONT’D.)

Thematurity structure of theDeposits AndAdvances are as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MaturingWithin 12Months 12,570,380 9,497,234 152,892 140,839Maturing After 12Months 1,129,256 1,127,273 – –

13,699,636 10,624,507 152,892 140,839

26. PAYABLES AND ACCRUED LIABILITIES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

AccrualsOnnon-Investment Administrative And MiscellaneousPayments 451,174 273,964 213,127 109,953DeferredDividend Income 23,090 – – –AccrualsOnPurchasesOfDomestic/ Global Equities InternallyManaged 274,017 191,567 274,017 191,567AccrualsOnMiscellaneous Investment Payments 53,313 187,326 53,106 187,326RentReceived In Advance 30,823 33,925 3,262 3,290InvocationOf Section 50(3) 4,137 4,785 4,137 4,785

836,554 691,567 547,649 496,921

Thematurity structure of thePayables AndAccrued Liabilities are as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

MaturingWithin 12Months 796,334 578,694 547,649 496,921Maturing After 12Months 40,220 112,873 – –

836,554 691,567 547,649 496,921



27. CONTRIBUTIONS ACCOUNT

GROUP AND EPF

2011 2010(RM’000) (RM’000)

BalanceAs At 01 January 407,565,535 373,742,966

Contributions Received And Adjusted During The YearContributionsReceived FromEmployers 41,434,343 35,755,813RedemptionOf Investment InUnit TrustsByMembers 2,234,949 2,506,233Refunds/CancellationOf Annuity PoliciesByMembers 238,370 329,580Reinstatements/AdjustmentsOfMembers’ Contributions Account 10,206 17,662

43,917,868 38,609,288

Dividend Distributed To MembersDividendCredited-6.00% (2010-5.80%) 24,466,019 21,610,131AdjustmentOnDividendCredited For Previous Year 8,921 13,600

24,474,940 21,623,731

Less:Withdrawals And Refunds Of Contributions55 YearsWithdrawal Scheme 10,231,416 8,516,38050 YearsWithdrawal Scheme 3,605,904 3,207,134IncapacitationWithdrawal Scheme 325,837 289,976LeavingCountryWithdrawal Scheme 189,842 185,955HousingWithdrawal Scheme 1,938,362 1,896,550Reduction/RedemptionOfHousing Loan/MonthlyHousing Loan Withdrawal Scheme 2,411,162 2,413,363MedicalWithdrawal Scheme 39,392 35,343DeathWithdrawal Scheme 731,452 660,861Periodical PaymentWithdrawal Scheme 9,343 13,310Members’ InvestmentWithdrawal Scheme 6,600,300 4,415,591PensionableWithdrawal Scheme 3,029,360 4,009,783EducationWithdrawal Scheme 277,970 269,867Monthly PaymentWithdrawal Scheme 134 127SavingOfMore ThanRM1MillionWithdrawal Scheme 481,967 362,428Refunds To Employers/Members-Rule 33(1), EPF Regulations&Rules, 1991 28,640 23,749RefundsOf Employers’ Share ToPension Trust Fund – Section 56, EPFAct, 1991 118,350 110,033

30,019,431 26,410,450

Balance As At 31 December 445,938,912 407,565,535



27. CONTRIBUTIONS ACCOUNT (CONT’D.)

The Contributions eligible to be withdrawn bymembers under 50 Years and 55 YearsWithdrawal Schemes are asfollows:

GROUP AND EPF

2011 2010(RM’000) (RM’000)

Contributions Eligible ToBeWithdrawnWithin 12Months 95,751,981 83,078,055Contributions Eligible ToBeWithdrawnAfter 12Months 350,186,931 324,487,480

445,938,912 407,565,535

Members’ Assets/Contributions With Fund Manager Institutions

The cumulative amount which had been invested by the EPF members in the Fund Manager Institutions was notdisclosed in theStatementOf FinancialPosition as the risk and reward of the investment is borneby themembers.

28. GROSS INVESTMENT INCOME

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Interest AndProfit From Investments:InternallyManaged 9,530,155 9,059,783 9,542,881 9,059,783External FundManagers 514,348 390,809 514,348 390,809

10,044,503 9,450,592 10,057,229 9,450,592Dividend From Investments:InternallyManaged 4,635,973 4,023,167 4,853,204 4,080,649External FundManagers 1,556,254 598,415 1,556,254 598,415

6,192,227 4,621,582 6,409,458 4,679,064RealisedProfit FromTradingOf Investments:InternallyManaged 4,435,221 4,430,914 4,435,221 4,278,411External FundManagers 2,328,360 1,954,720 2,328,360 1,954,720

6,763,581 6,385,634 6,763,581 6,233,131

Interest IncomeFromLoans, AdvancesAnd Financing 4,543,902 4,001,891 3,774,114 3,508,905

Rental Income 364,909 166,919 113,748 100,703Interest/Profit FromBankBalances 428 560 428 560UnrealisedProfit FromFinancial AssetsAt Fair Value ThroughProfit/Loss 141,264 126,943 115,072 88,097

Miscellaneous Income 6,011 9,241 1,665 2,479

28,056,825 24,763,362 27,235,295 24,063,531



29. INVESTMENT EXPENDITURES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

External FundManagers’ Fees 140,223 92,194 140,223 92,194Interest OnDeposits, Loans AndOverdrafts 161,320 142,552 – –TaxPaidOnGlobal Investments 13,830 6,689 13,830 6,689Miscellaneous 704 10,495 704 10,495

316,077 251,930 154,757 109,378

30. NET IMPAIRMENT LOSS ON FINANCIAL INVESTMENT ASSETS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Impairment LossOnHeld-To-Maturity Investment Assets – (350,000) – (350,000)Impairment LossOnAvailable-For-Sale Financial Assets (1,139,314) (830,423) (1,139,314) (830,423)Impairment LossOn Loans, Advances and Financing (174,672) (112,234) – –Impairment LossOnReceivables (9,543) – (9,543) –

(1,323,529) (1,292,657) (1,148,857) (1,180,423)

Reversal Of Impairment LossOnHeld-To- Maturity Investment Assets 594 11,477 594 11,477Reversal Of Impairment LossOnAvailable- For-Sale Financial Assets 6,709 1,096 6,709 1,096Reversal Of Impairment LossOn Loans, Advances And Financing 2,906 8 2,906 8Reversal Of Impairment LossOnAssets Held For Sale

– 8,414 – 8,414

10,209 20,995 10,209 20,995

(1,313,320) (1,271,662) (1,138,648) (1,159,428)



31. NET IMPAIRMENT LOSS ON INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Impairment LossOn Investment In Subsidiaries – – (1,432) –Reversal Of Impairment LossOn Investment In Subsidiaries

– – 216,726 223,437

– – 215,294 223,437

Impairment LossOn Investment In Associates – – (269,729) (7,145)Reversal Of Impairment LossOn Investment In Associates – – 47,768 18,674

– – (221,961) 11,529

– – (6,667) 234,966

32. NON-INVESTMENT INCOME

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Interest/Profit FromStaff Loans 7,488 7,346 7,488 7,346Dividend/Interest FromContributionsPaid Late 25,400 35,128 25,400 35,128Gain FromDisposal Of Property, Plant And Equipment 3,157 265 40 258Gain FromDisposal Of Investment Property 1,100 1,774 - -ServiceCharges 161,446 88,706 26,164 21,797Miscellaneous Income 43,236 39,416 5,099 14,200

241,827 172,635 64,191 78,729



33. OPERATING EXPENDITURES

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Salaries, Allowances And Staff Costs 685,616 572,219 593,750 512,676Audit Fees 1,485 859 371 335Actuary Fees 139 17 139 17CDSRegistration Fees 12 1,043 12 1,043Fees AndProfessional Charges 46,709 28,911 18,828 16,075Printing And Stationery 6,780 6,107 4,861 4,788Postal And TelephoneCharges 27,158 24,438 21,819 20,017Transport And Travelling 10,406 11,256 8,255 8,565Rent AndAssessment 21,838 15,122 12,006 12,349InsuranceOnProperty 1,177 911 830 828MaintenanceOnProperty, Plant And Equipment 67,590 62,870 58,985 52,419Assetsnot Capitalised 2,292 2,461 2,292 2,461DepreciationOf Property, Plant And Equipment 48,199 35,302 40,629 28,147DepreciationOf Investment Properties 49,107 43,298 37,219 31,407AmortisationOf Intangible Assets 15,421 14,379 14,761 14,013AmortisationOf Prepaid Land Lease 1,352 1,344 1,187 1,179net LossOn Fair Value AdjustmentOnGlobal Investment Property 199,813 40,828 – –WrittenOffs/Losses 167 48 167 48AllowancesOnBadAndDoubtfulDebts/WrittenOffs 17,117 19,164 – –Technical Services Fees 47,244 20,451 47,229 20,451Advertisements 8,277 5,524 2,344 2,115HonorariumForBoardMembers/InvestmentPanel 1,105 923 1,105 923Directors’ Remuneration 1,251 1,001 – –EmployeeBenefits 23,725 20,787 23,725 20,787Miscellaneous Expenses 187,640 104,244 3,264 2,310

1,471,620 1,033,507 893,778 752,953

34. STATUTORY CHARGES

GROUP AND EPF

2011 2010(RM’000) (RM’000)

DeathBenefit-Section 58(1) 37,797 38,243IncapacitationBenefit-Section 58(2) 4,720 4,790

42,517 43,033



35. REVERSAL OF IMPAIRMENT LOSS ON PROPERTY

GROUP AND EPF

2011 2010(RM’000) (RM’000)

Impairment LossOn Investment Properties (3,549) –Reversal of Impairment LossOn Investment Properties 15,523 –

11,974 –

Reversal of Impairment LossOnPrepaid Land Lease 9,342 –

9,342 –

21,316 –

36. TAXATION AND ZAKAT

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Zakat 524 524 – –

Income Tax: Current Year 136,321 64,645 – – (Over)/Under Accrual In Prior Years (27,059) (3,122) – –Deferred TaxRecognisedDuring The Year 2,524 1,552 – –

112,310 63,599 – –

Income tax is calculatedat theMalaysianstatutory rateof 25% (2010: 25%)basedon theestimated taxable incomefor the current year. Deferred tax amount for the financial year ended 31 December 2011 have been adjustedaccordingly.



36. TAXATION AND ZAKAT (CONT’D.)

The reconciliation between the tax expenses and the profit before tax charged at the statutory rate for the Groupand EPF are as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Profit Before Tax 26,186,246 23,149,781 25,084,435 22,312,434Tax AtMalaysian StatutoryRate 25% (2010: 25%)/UK 20% (2010: 20%) 6,622,818 5,787,445 6,271,109 5,578,109non-Taxable Income (6,559,192) (5,745,838) (6,271,109) (5,578,109)Foreign Taxation 544 251 – –non-Deductible Expenses For TaxPurposes 55,243 18,630 – –UtilisationOfUnabsorbed Tax Losses And UnutilisedCapital AllowancePreviouslynot Recognised (1,445) 501 – –RecognitionOnDeferred Tax Assets Previously not Recognised 21,375 5,831 – –(Over)/UnderProvision Tax Expenses For Previous Year (27,059) (3,108) – –(Over)/UnderProvisionDeferred Tax Liabilities For Previous Year – (14) – –RecognitionOnDeferred TaxOn Fair Value AdjustmentUponConsolidation – (74) – –Different TaxationRates 26 (25) – –

112,310 63,599 – –

37. OTHER COMPREHENSIVE INCOME/(LOSSES)

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

netUnrealisedProfit On Fair ValueRevaluation Of Available-For-Sale Financial Assets (1,076,457) 20,760,189 (1,076,457) 20,760,189

AdjustmentOnRecycleOf Available-For-Sale Financial AssetsReserveRecognised In The Current Year IncomeStatementOnDisposal Of Available-For-Sale Financial Assets (6,019,541) (7,357,858) (6,019,541) (7,357,858)

(7,095,998) 13,402,331 (7,095,998) 13,402,331Currency TranslationDifferences 73,560 – – –

(7,022,438) 13,402,331 (7,095,998) 13,402,331



38. CASH AND CASH EQUIVALENTS

CashAndCashEquivalentswhichhasbeen included in theCashFlowStatement ismadeupof itemsandamountsas reported in the StatementOf Financial Position as follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

BankAndCashBalances 613,527 410,983 238,937 265,875FixedDepositsWith LicensedBank 1,211,721 1,068,462 – –MoneyMarket Account–BanknegaraMalaysia 115,101 48,759 115,101 48,759

1,940,349 1,528,204 354,038 314,634

39. CAPITAL COMMITMENTS

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

a. Capital Commitments ApprovedAndContracted For 26,532 30,693 26,532 30,693 ApprovedButnot Contracted For 364,413 253,669 277,460 213,883

390,945 284,362 303,992 244,576b. Operational Commitments LoanCommitmentsnot Provided For In The Financial Statements: End Financing 243,602 104,870 – – Bridging, StructuredAnd TermLoans 2,925,838 174,234 – – Islamic Loans 217,780 147,824 – –

3,387,220 426,928 – – PropertyDevelopments: ApprovedAndContracted For 421,528 421,528 – –

421,528 421,528 – –c. Contingencies Financial Guarantee To SecurePayments

By ABorrowed (Fully Secured) 80,375 19,405 – –

80,375 19,405 – –

4,280,068 1,152,223 303,992 244,576

The fully secured contingency is secured by way of fixed charge over the borrower’s development project, and adebenture creating a fixed and floating charge over the entire assets of the borrower.



40. CONTINGENT LIABILITIES

40.1 Civil Action

A former borrower of the subsidiary has instituted a civil suit against the subsidiary for an alleged breach offacility agreement and is claimed damages amounting up to RM43.31million. The subsidiary had terminatedthe said facilities due to the former borrower’s breach of facility agreement and subsequently sold the loanasset to an unrelated company.

On30September2010, theCourt dismissed theborrower’s claimwith costs. Theborrowerhas filedanappealon 25October 2010. The appeal is pending a hearing date.

noprovisionhas beenmade in theFinancial Statements in respect of above claims since theDirector of thesubsidiary, after obtaining legal advice from the subsidiary’s solicitors, are of the opinion that the subsidiaryhas reasonably good cases in respect of all claims against the subsidiary.

40.2 Contingent Claims

a. Invocation Of Section 50(3), EPF Act, 1991

This section of the Act requires the EPF to pay the employee’s share of the contributions for anydeduction made from the wages of the employee if the employer fails to pay the contributions. Theamount of contingent liability is estimated at RM15.19million (2010: RM14.10million) is not inclusive ofthe accrued dividend from the time of deduction. This section is only invoked after all efforts to ensurethe employers to pay the contributions has failed.

b. Statutory Charges Under Section 58(1) And (2), EPF Act, 1991

Statutory charges comprising Death Benefits under Section 58(1) and Incapacitation Benefits underSection 58(2), EPF Act, 1991 are paid to members utilising the EPF’s revenue and not the members’credits. In the event amember or his/her beneficiary did not encash the paymentmade in a particularfinancial year, should such payment be claimed in the subsequent year, the repayment made to suchmember or his/her beneficiarywould utilise the revenue in the year the said claimwasmade. As at 31December 2011, contingent liabilities in respect of Death Benefits amounted to RM11.65 million (2010:RM11.69million)whereas IncapacitationBenefits amounted toRM6.43million (2010: RM6.43million).

41. FINANCIAL RISK

41.1 Credit Risk

Credit Risk is the risk of loss due to the inability or unwillingness of a counterparty to meet its paymentobligations. Exposure to credit risk arises from its lending, hedging, trading and investing activities.

TheprimaryobjectiveofcreditriskmanagementintheEPFistoensurethatexposuretocreditriskisalwayskeptwithin its capability and financial capacity towithstandpotential future losses.

The EPFmaintains an average portfolio rating of AA for its debt securities and loans. As a matter of policy,theEPF investsonly indebtsecuritieswith initial ratingofA3/A–orbetter.However, theEPFmayalso investin unrated assetswhere a rating is assigned using internal ratingmodel that is consistentwith the approachused by external rating agency.

Thecounterpartycreditriskwhicharisesfromdepositplacementwithfinancial institutionismanagedbysettinglimits such that all deposits are to beheld by partieswith a financial institution rating of A3/A – or better.



41. FINANCIAL RISK (CONT’D.)

41.1 Credit Risk (Cont’d.)

a. Credit Quality

The EPF has developed tools to measure credit risk such as Credit Portfolio Model which computesCredit Value-At-Risk and Corporate Rating Template to provide an internal risk rating for corporateborrowers.

The EPF’s debt portfolios aremanaged by internal as well as external fundmanagers appointed by theInvestment Panel. Both portfolios are subject to maximum exposure to ensure the portfolios arediversified.

The EPF also invests in short-term papers which include an approved list of Commercial Papers orCommercialPapersUniverse.TheUniverse facilitates the tradingprocessandprovidesassurance to theEPF that the exposure to commercial papers is only to strongly rated borrowers.

The EPF classifies debt securities into internal rating scales which are consistent with domestic andforeign rating agencies. The credit quality classification is as follows:

Quality Classification

i. Long Term Rating For Payment Long Term Financial Obligations

Long Term Rating Credit Rating Definition Of Quality Classifications

Sovereign Sovereign Issued by theGovernmentStrong AAA andAA Superior/high safety tomeet financial

obligationsModerate A Adequate safety tomeet financial obligationsSub-Standard BBB and below Moderate/low safety tomeet financial

obligations

ii. Short Term Rating For Payment Short Term Financial Obligations

Short Term Rating Credit Rating Definition Of Quality Classifications

Strong P1 Strong capacity tomeet financial obligationsModerate P2 Adequate capacity tomeet financial obligations

iii. Non-Rated Financial Assets

This refers to financial assets such as receivables, deposits, accrued interest and dividend, andotherswhich do not have credit rating.

iv. Impaired

Exposure assessed individually which is considered impaired based on the EPF’s accountingpolicies.





a. Credit Quality (Cont’d.)

Distributionof gross financial assetsby credit quality asat 31December2011 is as follows:

GROUP 2011

Sovereign

(RM’000)

Strong

(RM’000)

Moderate

(RM’000)

Sub-Standard(RM’000)

Non-Related(RM’000)

Impaired

(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 124,847,803 49,801,853 2,897,835 – – 87,769 177,635,260Available-For-Sale Financial Assets 440,779 10,581,201 769,044 – 101,864 159,145 12,052,033Loans, Advances And Financing 19,700,000 64,868,391 7,358,952 – 7,513,633 3,211,852 102,652,828Financial Assets At Fair ValueThroughProfit/Loss 793,342 – – – – – 793,342DepositsWith Financial Institutions AndBankBalances 115,105 12,467,724 2,607,512 – 1,421,730 – 16,612,071

Other Financial Assets – – – – 8,039,641 203,758 8,243,399

145,897,029 137,719,169 13,633,343 – 17,076,868 3,662,524 317,988,933


GROUP 2010

Sovereign

(RM’000)

Strong

(RM’000)

Moderate

(RM’000)



Impaired

(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 118,517,139 46,037,595 2,838,185 110,100 – 636,464 168,139,483

Available-For-Sale Financial Assets – 6,610,697 1,424,685 92,186 1,620,917 123,541 9,872,026Loans, Advances And Financing 20,700,000 61,444,178 5,817,634 13,136 4,577,350 5,033,334 97,585,632Financial Assets At Fair ValueThroughProfit/Loss 65,090 75,299 – 17,611 – – 158,000DepositsWith Financial Institutions AndBankBalances 48,762 19,179,308 4,792,119 – 124,781 – 24,144,970

Other Financial Assets – – 188,818 – 4,684,080 – 4,872,898

139,330,991 133,347,077 15,061,441 233,033 11,007,128 5,793,339 304,773,009





a. Credit Quality (Cont’d.)


EPF 2011

Sovereign

(RM’000)

Strong

(RM’000)

Moderate

(RM’000)



Impaired

(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 124,847,803 49,801,853 2,693,481 – – 87,769 177,430,906Available-For-Sale Financial Assets 440,779 10,581,201 769,044 – 101,864 159,145 12,052,033Loans, Advances And Financing 19,700,000 64,607,016 – – 206,259 74,098 84,587,373Financial Assets At Fair ValueThroughProfit/Loss 793,342 – – – – – 793,342DepositsWith Financial Institutions And BankBalances 115,105 12,315,459 2,595,156 – 40 – 15,025,760

Other Financial Assets – – – – 7,614,821 – 7,614,821

145,897,029 137,305,529 6,057,681 – 7,922,984 321,012 297,504,235


EPF 2010

Sovereign

(RM’000)

Strong

(RM’000)

Moderate

(RM’000)



Impaired

(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 118,517,139 46,037,595 2,838,185 110,100 – 636,464 168,139,483Available-For-Sale Financial Assets – 6,610,697 1,424,685 92,186 1,620,917 123,541 9,872,026Loans, Advances And Financing 20,700,000 61,444,178 645,359 13,136 209,964 75,362 83,087,999Financial Assets At Fair ValueThroughProfit/Loss 65,090 75,299 – 17,611 – – 158,000DepositsWith FinancialInstitutions AndBankBalances 48,762 18,090,479 4,792,119 – 40 – 22,931,400

Other Financial Assets – – – – 4,640,134 – 4,640,134

139,330,991 132,258,248 9,700,348 233,033 6,471,055 835,367 288,829,042





b. Aging Analysis

Theamounts in the following tablereflectexposureongross financialassetsdesignatedaspastduebutnot impaired:

GROUP 2011

NeitherPast Due

Nor Impaired(RM’000)

Past DueUp To

1 Month(RM’000)

Past Due1 To 3

Months(RM’000)

Past Due3 To 6

Months(RM’000)

Past DueMore Than

6 Months(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 177,547,491 – – – – 177,547,491Available-For-Sale Financial Assets 11,892,888 – – – – 11,892,888

Loans, AdvancesAnd Financing 96,487,692 1,430,249 1,055,460 467,575 – 99,440,976

Financial Assets At FairValueThroughProfit/Loss 793,342 – – – – 793,342

DepositsWith FinancialInstitutions And BankBalances 16,612,071 – – – – 16,612,071

Other Financial Assets 8,038,982 617 42 – – 8,039,641

311,372,466 1,430,866 1,055,502 467,575 – 314,326,409

GROUP 2010

NeitherPast Due


Past DueUp To

1 Month(RM’000)

Past Due1 To 3

Months(RM’000)

Past Due3 To 6

Months(RM’000)

Past DueMore Than

6 Months(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 167,503,019 – – – – 167,503,019Available-For-Sale Financial Assets 9,748,485 – – – – 9,748,485Loans, Advances And Financing 83,012,637 3,350 364 4,379 9,531,568 92,552,298Financial Assets At FairValueThroughProfit/Loss 158,000 – – – – 158,000

DepositsWith FinancialInstitutions And BankBalances 24,144,970 – – – – 24,144,970

Other Financial Assets 4,684,080 1,569 – 2 187,247 4,872,898

289,251,191 4,919 364 4,381 9,718,815 298,979,670





b. Aging Analysis (Cont’d.)Theamounts in the following tablereflectexposureongross financialassetsdesignatedaspastduebutnot impaired:

EPF 2011

NeitherPast Due


Past DueUp To

1 Month(RM’000)

Past Due1 To 3

Months(RM’000)

Past Due3 To 6

Months(RM’000)

Past DueMore Than

6 Months(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 177,343,137 – – – – 177,343,137Available-For-Sale Financial Assets 11,892,888 – – – – 11,892,888

Loans, AdvancesAnd Financing 84,513,276 – – – – 84,513,276

Financial Assets At Fair ValueThroughProfit/Loss 793,342 – – – – 793,342DepositsWith Financial Institutions And BankBalances 15,025,760 – – – – 15,025,760

Other Financial Assets 7,614,821 – – – – 7,614,821

297,183,224 – – – – 297,183,224

EPF 2010

NeitherPast Due


Past DueUp To

1 Month(RM’000)

Past Due1 To 3

Months(RM’000)

Past Due3 To 6

Months(RM’000)

Past DueMore Than

6 Months(RM’000)

Total

(RM’000)Held-To-Maturity Investment Assets 167,503,019 – – – – 167,503,019Available-For-Sale Financial Assets 9,748,485 – – – – 9,748,485Loans, Advances And Financing 83,012,637 – – – – 83,012,637

Financial Assets At Fair ValueThroughProfitj/Loss 158,000 – – – – 158,000DepositsWith Financial Institutions And BankBalances 22,931,400 – – – – 22,931,400

Other Financial Assets 4,640,134 – – – – 4,640,134

287,993,675 – – – – 287,993,675





c. Financial Assets Exposed To Credit Risk Individually Assessed As ImpairedAn analysis of financial assets individually assessed as impaired and themovements on the impairmentallowance during the year are as follows:

GROUP 2011

AllowancesAs At

01 January(RM’000)

AllowancesMade During

The Year(RM’000)

Adjustments

(RM’000)

Recoveries

(RM’000)

AmountsWritten Off

(RM’000)

AllowancesAs At

31 December(RM’000)

Held-To-Maturity Investment Assets 438,362 – – (594) – 437,769Available-For-Sale Financial Assets 108,199 96,318 (20,075) (6,709) – 177,732Loans, Advances And Financing 3,866,377 174,014 (17,526) (2,906) (1,328,133) 2,691,826Other Financial Assets 160,131 57,441 – – (5,303) 212,269

4,573,069 327,773 (37,601) (10,209) (1,333,436) 3,519,596

GROUP 2010

AllowancesAs At



The Year(RM’000)

Adjustments

(RM’000)

Recoveries

(RM’000)

AmountsWritten Off

(RM’000)

AllowancesAs At


Held-To-Maturity Investment Assets 99,874 350,000 (35) (11,477) – 438,362Available-For-Sale Financial Assets 67,371 42,252 (328) (1,096) – 108,199Loans, Advances And Financing 4,003,928 110,818 – (8) (248,361) 3,866,377

4,171,173 503,070 (363) (12,581) (248,361) 4,412,938

EPF 2011

AllowancesAs At



The Year(RM’000)

Adjustments

(RM’000)

Recoveries

(RM’000)

AmountsWritten Off

(RM’000)

AllowancesAs At


Held-To-Maturity Investment Assets 438,362 – – (594) – 437,769Available-For-Sale Financial Assets 108,199 96,318 (20,075) (6,709) – 177,732Loans, Advances And Financing 75,274 – 9 (2,906) – 72,377Other Financial Assets – 9,543 – – – 9,543

621,835 105,861 (20,066) (10,209) – 697,421





c. Financial Assets Exposed To Credit Risk Individually Assessed As Impaired (Cont’d.)

EPF 2010

AllowancesAs At



The Year(RM’000)

Adjustments

(RM’000)

Recoveries

(RM’000)

AmountsWritten Off

(RM’000)

AllowancesAs At


Held-To-Maturity Investment Assets 99,874 350,000 (35) (11,477) – 438,362Available-For-Sale Financial Assets 67,371 42,252 (328) (1,096) – 108,199Loans, Advances And Financing 75,282 – – (8) – 75,274

242,527 392,252 (363) (12,581) – 621,835

d. Financial Effects Of The Collateral Held On Financial Assets Which Exposed To Credit RiskThe estimated financial effects of the collateral held on financial assets is as follows:

GROUP 2011

Carrying Amount Of Sovereign

Financial Assets

(RM’000)

CarryingAmount Of

Non-SovereignFinancial

Assets(RM’000)

FinancialEffects OfCollateral

(%) Financial AssetsHeld-To-Maturity Investment Assets 124,847,803 52,787,457 14Available-For-Sale Financial Assets 440,779 11,611,254 –Loans, Advances And Financing 19,700,000 82,952,828 12Financial Assets At Fair Value ThroughProfit/Loss 793,342 –DepositsWith Financial Institutions AndBankBalances 115,105 16,496,966 –Other Financial Assets – 8,243,399 –

145,897,029 172,091,904 10





d. Financial Effects Of Collateral Held On Financial Assets Exposed To Credit Risk (Cont’d.)

GROUP 2010

Carrying Amount

Of SovereignFinancial

Assets(RM’000)

CarryingAmount Of


Assets(RM’000)


(%)Financial AssetsHeld-To-Maturity Investment Assets 118,517,139 49,622,344 15Available-For-Sale Financial Assets – 9,872,026 –Loans, Advances And Financing 20,700,000 76,885,632 12Financial Assets At Fair Value ThroughProfit/Loss 65,090 92,910 –DepositsWith Financial Institutions AndBankBalances 48,762 24,096,208 –Other Financial Assets – 4,872,898 –

139,330,991 165,442,018 10

SovereignFinancialAssetscompriseofMalaysianGovernmentSecurities,GovernmentInvestmentIssues,direct Loans directly to the Government ofMalaysia and depositswith BanknegaraMalaysiawhich areuncollateralised.

Theestimated financial effectsof the collateralheldon financial assets is as follows:

EPF 2011

Carrying Amount


Assets(RM’000)

CarryingAmount Of


Assets(RM’000)


(%)Financial AssetsHeld-To-Maturity Investment Assets 124,847,803 52,583,103 14Available-For-Sale Financial Assets 440,779 11,611,254 -Loans, Advances And Financing 19,700,000 64,887,373 2Financial Assets At Fair Value ThroughProfit/Loss 793,342 – –DepositsWith Financial Institutions AndBankBalances 115,105 14,910,655 –Other Financial Assets – 7,614,821 –

145,897,029 151,607,206 6





d. Financial Effects Of Collateral Held On Financial Assets Exposed To Credit Risk (Cont’d.)

EPF 2010

Carrying Amount


Assets(RM’000)

CarryingAmount Of


Assets(RM’000)


(%)Financial AssetsHeld-To-Maturity Investment Assets 118,517,139 49,622,344 15Available-For-Sale Financial Assets – 9,872,026 –Loans, Advances And Financing 20,700,000 62,387,999 2Financial Assets At Fair Value ThroughProfit/Loss 65,090 92,910 –DepositsWith Financial Institutions AndBankBalances 48,762 22,882,638 –Other Financial Assets – 4,640,134 –

139,330,991 149,498,051 6

SovereignFinancialAssetscompriseofMalaysianGovernmentSecurities,GovernmentInvestmentIssues,direct Loans to the Government of Malaysia and deposits with Bank negara Malaysia which areuncollateralised.

41.2 Liquidity Risk

LiquidityRisk relates to the inability of theEPF tomeet its financial commitmentsandobligationswhen theyfall due. The EPFmaintains adequate levels of liquid assets in the form of cash and placements in financialinstitutions in order tomeetmembers’withdrawals and other financial commitments and obligations.

The table as set out below provides details of the Group and the EPF’s financial liabilities categorised intorelevantmaturitygroupingsbasedon the remainingperiodat theStatementOfFinancialPositiondate to thecontractualmaturitydate.Ifanyoftheoutstandingderivativefinancialliabilitiesareheldfortrading,thentheyare presented based on expectedmaturity basis. The amounts in the table are the contractual undiscountedrepayment obligations.




41.2 Liquidity Risk (Cont’d.)

GROUP 2011

On DemandOr WithinOne Year

(RM’000)

One ToFive Years

(RM’000)

Over FiveYears

(RM’000)

Total

(RM’000)Financial LiabilitiesLoansAndOverdrafts 424,407 736,094 1,160,501ContributionWithdrawals Payables 72,122 – – 72,122Deposits AndAdvances 12,609,217 1,261,982 65,457 13,936,656Others 1,053,867 2,110,288 40,220 3,204,375

14,159,613 4,108,364 105,677 18,373,654

GROUP 2010


(RM’000)

One ToFive Years

(RM’000)

Over FiveYears

(RM’000)

Total

(RM’000)Financial LiabilitiesLoansAndOverdrafts 209,644 123,491 835,577 1,168,712ContributionWithdrawals Payables 75,936 – – 75,936Deposits AndAdvances 9,497,159 1,127,348 90,049 10,714,556Others 613,869 22,824 – 636,693

10,396,608 1,273,663 925,626 12,595,897

EPF 2011


(RM’000)

One ToFive Years

(RM’000)

Over FiveYears

(RM’000)

Total

(RM’000)Financial LiabilitiesContributionWithdrawals Payables 72,122 – – 72,122Deposits AndAdvances 152,892 – – 152,892Others 595,049 – – 595,049

820,063 – – 820,063




41.2 Liquidity Risk (Cont’d.)

EPF 2010


(RM’000)

One ToFive Years

(RM’000)

Over FiveYears

(RM’000)

Total

(RM’000)Financial LiabilitiesContributionWithdrawals Payables 75,936 – – 75,936Deposits AndAdvances 140,839 – – 140,839Others 511,374 20,722 – 532,096

728,149 20,722 – 748,871

41.3 Market Risk

Market Risk is the risk of loss arising from changes in the value of portfolios and financial instruments dueto themovements in equity prices, interest rates and foreign exchange rate.

The primary objective of market risk management is to ensure that losses from market risk can be promptlymitigated, and risk positions are sufficiently liquid, to enable the fund to reduce its position without incurringpotential loss that is beyond theRiskAppetite.

The EPF adopts the followingmeasurement to quantifymarket risk:

i. ValueatRisk(VaR)–anestimationoftheamountofmarketvaluethataportfoliocanloseoveracertaintime horizon with a given probability. The Monte Carlo Simulation is used to compute VaR to measurethe riskiness of the portfolios.

ii. Duration–a linearmeasureofriskforabondtodefinethepercentage increase(decrease) inthebond’svalue for a 1% fall (rise) in the bond’s yield.

iii. Tracking error – refers to the standard deviation of the portfolio’s excess returns relative to abenchmark.

iv. Simulation analysis, including stress testing, is another method of examining portfolio risk in extremesituations. Stress testing involves setting parameters such as correlation, volatility and returns atdifferent values aswell as assessing how a portfolio’s riskmay change.

v. Beta measurement – used for the purpose of gauging the equity’s price sensitivities againstbenchmark.




41.3 Market Risk (Cont’d.)

a. Price RiskPriceRiskarisespredominantlyfromtwoexposures,namelydomesticandglobalequities.Tomanagepricerisk arising from investments in equities, the EPF has identified acceptable benchmarks for variousportfolios. Limits are then set against benchmarks to ensure the risk of the portfolios iswithin the EPF’srisk appetite.

The EPF’s policy is tomanage price risk through diversification and prudent selection of securitieswithinspecified limits set by the InvestmentPanelRiskCommittee and InvestmentPanel.

TheEPF’spolicyrequires that theoverallmarketposition ismonitoredonadailybasisand isreviewedona quarterly basis by the Investment Panel Risk Committee. Compliance with the investment policies arereported to theManagement on amonthly basis.

The table set out below summarises the impact on the carrying amount of equity positions as atStatement Of Financial Position date should there be a change in equitymarket prices. The analysis isbased on the assumption that the index componentswithin the benchmark increased or decreased by areasonable possible shift, with all other variables held constant and that the fair value of the equitiesmoved according to the historical correlationwith the index.

GROUP AND EPF 2011

Fair Value

(RM’000)

ReasonablePossible

Shift

Sensitivity Impact ToAvailable-

For-SaleFinancial

AssetsReservesIncrease/

(Decrease)(RM’000)

Sensitivity Impact To

IncomeStatement

Increase/(Decrease)

(RM’000)

IndexAvailable-For-Sale Quoted Equities

FBM100 Ethical Domestic 103,806,799 +5% 5,117,250 –-5% (5,170,057) (4,753)

FTSEAggregate Global 45,431,209 +10% 4,448,596 – World -10% (4,491,664) (14,915)

149,238,008





a. Price Risk (Cont’d.)

GROUP AND EPF 2010

Fair Value

(RM’000)

ReasonablePossible

Shift

Sensitivity Impact ToAvailable-

For-SaleFinancial

AssetsReservesIncrease/

(Decrease)(RM’000)

Sensitivity Impact To

IncomeStatement

Increase/(Decrease)

(RM’000)

IndexAvailable-For-Sale Quoted Equities

FBM100 Ethical Domestic 102,972,988 +5% 5,143,251 –-5% (5,112,177) (52,637)

MSCIWorld Global 37,299,571 +10% 3,729,933 –-10% (3,725,663) (4,294)

140,272,559

There is nomaterial impact on unquoted equitieswith regard to sensitivity exposure to price risk.





b. Interest Rate RiskTheGroupandEPFare exposed to various risks associatedwith the fluctuations in theprevailing levelsofmarketinterestrateonitsfinancialpositionsandcashflows.ThefollowingtableindicatestheeffectiveinterestrateattheStatementOfFinancialPositiondateandtheperiodsinwhichthefinancialinstrumentsreprice ormature,whichever is earlier.

GROUP <____________________ Non Trading Book ____________________>

2011 Up to1 month

>1-3 months

>3-12months

>1-5years

Over5 years

Non-InterestSensitive

TradingBook

Total EffectiveInterest

Rate(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000) %

ASSETSInvestment In Associates 8,006,564 1,727,640 8,501,139 1,067,466 697,062 721,592 – 20,721,463 4.6-9.00Held-To-Maturity Investment Assets 33,036 347,760 9,448,787 70,975,416 96,392,492 – – 177,197,491 2.51-8.50Available-For-Sale Financial Assets 151,079,132 10,038 135,206 7,562,885 4,364,144 – – 163,151,405 –Financial Assets At Fair Value ThroughProfit/Loss 16,725 1,012 1,160,298 465,621 32,411 – 793,342 2,469,409 3.375-3.82Loans, Advances And Financing 1,078,510 317,524 27,145,821 32,619,027 37,506,325 – 1,293,795 99,961,002 4.02-8.0DepositsWith Financial Institutions 11,953,094 – 1,966,787 2,078,550 113 – – 15,998,544 3.25-7.94Othernon-Interest Sensitive Assets – – – – – – 16,471,848 16,471,848 –

Total Assets 172,167,061 2,403,974 48,358,038 114,768,965 138,992,547 721,592 18,558,985 495,971,162

LIABILITIESLoans andOverdraft 134,548 31,563 126,220 1,745,597 – – – 2,037,928 3.45-5.50Deposits andAdvances 6,584,511 3,287,339 2,510,773 1,102,078 26,647 188,288 – 13,699,636 3.27Othernon-Interest Sensitive Liabilities – – – – – 1,222,457 – 1,222,457 –

Total Liabilities 6,719,059 3,318,902 2,636,993 2,847,675 26,647 1,410,745 – 16,960,021

Contributions Account – – – – – 445,938,912 – 445,938,912 –Other Funds – – – – – 32,166,369 – 32,166,369 –Minority Interest – – – – – 905,860 – 905,860 –

Total Liabilities And Equities 6,719,059 3,318,902 2,636,993 2,847,675 26,647 480,421,886 – 495,971,162

On StatementOf Financial Position Interest SensitivityGap 165,431,482 (2,642,568) 45,721,045 111,921,290 138,965,900 (478,005,962) 18,558,985 – –

Total Interest Sensitivity Gap 165,431,482 (2,642,568) 45,721,045 111,921,290 138,965,900 (478,005,962) 18,558,985 –





b. Interest Rate Risk (Cont’d.)

GROUP <____________________ Non Trading Book ____________________>

2010 Up to1 month

>1-3 months

> 3-12months

>1-5years

Over 5 years


TradingBook

Total Effective Interest


ASSETSInvestment In Associates – – – 804,975 711,325 9,812,367 – 11,328,667 9Held-To-Maturity Investment Assets 305,843 440,628 10,452,592 75,301,782 81,200,276 – – 167,701,121 1.78-16.00Available-For-Sale Financial Assets 1,583,400 70,381 462,316 3,911,466 3,620,386 141,930,790 – 151,578,739 2.10-21.33Financial Assets At Fair Value ThroughProfit/Loss – – – – – 881,888 65,090 946,978Loans, Advances And Financing 604,585 655,908 4,323,731 48,935,410 37,396,462 1,803,159 – 93,719,255 3.61-7.80DepositsWith Financial Institutions 17,635,976 4,060,509 1,833,693 203,809 – – – 23,733,987 0.07-5.10Othernon-Interest Sensitive Assets – – – – – 10,064,709 – 10,064,709 –

Total Assets 20,129,804 5,227,426 17,072,332 129,157,442 122,928,449 164,492,913 65,090 459,073,456

LIABILITIESLoans andOverdraft 211,345 11,319 72,135 873,913 – – – 1,168,712 –Deposits andAdvances 4,238,267 3,273,997 1,844,132 1,127,347 – 140,764 – 10,624,507 –Othernon-Interest Sensitive Liabilities – – – – – 1,045,740 – 1,045,740 –

Total Liabilities 4,449,612 3,285,316 1,916,267 2,001,260 – 1,186,504 – 12,838,959

Contributions Account – – – – – 407,565,535 – 407,565,535 –Other Funds – – – – – 38,010,206 – 38,010,206 –Minority Interest – – – – – 658,756 – 658,756 –

Total Liabilities And Equities 4,449,612 3,285,316 1,916,267 2,001,260 – 447,421,001 – 459,073,456

OnStatementOf Financial Position Interest Sensitivity Gap 15,680,192 1,942,110 15,156,065 127,156,182 122,928,449 (282,928,088) 65,090 – –

Total Interest Sensitivity Gap 15,680,192 1,942,110 15,156,065 127,156,182 122,928,449 (282,928,088) 65,090 –






EPF <____________________ Non Trading Book ____________________>

2011 Up to1 month

>1-3 months

> 3-12months

>1-5years

Over 5 years


TradingBook



ASSETSInvestment In Subsidiaries 7,048,136 – 748,135 – 450,000 – – 8,246,271 –Investment In Associates 8,006,564 – 8,501,139 1,067,466 697,062 – – 18,272,231 9.00Held-To-Maturity Investment Assets 33,036 347,760 9,448,787 70,975,416 96,188,138 – – 176,993,137 1.78–16.00Available-For-Sale Financial Assets 151,079,132 10,038 135,206 7,562,885 4,313,073 – – 163,100,334 2.10–21.33Financial Assets At Fair Value ThroughProfit/Loss 16,725 1,012 406,636 465,621 32,411 – 793,342 1,715,747 –Loans, Advances And Financing 603,546 263,729 26,924,141 32,330,393 24,393,187 – – 84,514,996 3.61–7.80DepositsWith Financial Institutions 10,770,282 – 1,966,541 2,050,000 – – – 14,786,823 0.07–5.10Othernon-Interest Sensitive Assets – – – – – 9,875,622 – 9,875,622 –

Total Assets 177,557,421 622,539 48,130,585 114,451,781 126,073,871 9,875,622 793,342 477,505,161

LIABILITIESOthernon-Interest Sensitive Liabilities – – – – – 979,096 – 979,096 –

Total Liabilities – – – – – 979,096 – 979,096

Contributions Account – – – – – 445,938,912 – 445,938,912 –Other Funds – – – – – 30,587,153 – 30,587,153 –

Total Liabilities And Equities – – – – – 477,505,161 – 477,505,161

On StatementOf Financial Position Interest Sensitivity Gap 177,557,421 622,539 48,130,585 114,451,781 126,073,871 (467,629,539) 793,342 – –

Total Interest Sensitivity Gap 177,557,421 622,539 48,130,585 114,451,781 126,073,871 (467,629,539) 793,342 –






EPF <____________________ Non Trading Book ____________________>

2010 Up to1 month

>1-3 months

>3-12months

>1-5years

Over 5 years


TradingBook



ASSETSInvestment In Subsidiaries – – – – 535,291 2,830,202 – 3,365,493 –Investment In Associates – – – 804,975 711,325 8,161,859 – 9,678,159 9.00Held-To-Maturity Investment Assets 305,843 440,628 10,452,592 75,301,782 81,200,276 – – 167,701,121 1.78–16.00Available-For-Sale Financial Assets 1,583,400 70,381 462,316 3,911,466 3,620,386 141,930,790 – 151,578,739 2.10–21.33Financial Assets At Fair Value ThroughProfit/Loss – – – – – 607,856 65,090 672,946 –Loans, Advances And Financing 601,472 655,569 4,319,613 48,785,833 28,650,238 – – 83,012,725 3.61–7.80DepositsWith Financial Institutions 16,855,525 4,010,000 1,800,000 – – – – 22,665,525 0.07–5.10Othernon-Interest Sensitive Assets – – – – – 7,173,471 – 7,173,471 –

Total Assets 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 160,704,178 65,090 445,848,179

LIABILITIESOthernon-Interest Sensitive Liabilities – – – – – 888,673 – 888,673 –

Total Liabilities – – – – – 888,673 – 888,673

Contributions Account – – – – – 407,565,535 – 407,565,535 –Other Funds – – – – – 37,393,971 – 37,393,971 –

Total Liabilities And Equities – – – – – 445,848,179 – 445,848,179

On StatementOf FinancialPosition Interest SensitivityGap 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 (285,144,001) 65,090 – –

Total Interest Sensitivity Gap 19,346,240 5,176,578 17,034,521 128,804,056 114,717,516 (285,144,001) 65,090 –






Interest Rate Risk arises from investments in floating interest rate instruments classified as loans andreceivables, and fixed interest rate instruments classified as available-for-sale and fair value throughprofit or loss.

Estimateofcashflowsaswellasthe impactof fluctuations in interestratesaremonitoredandreviewedregularly. The overall objectives of these strategies are to limit the net changes in the value of assetsand expected income arising from interest ratemovements.

The table set out below summarizes the impact on the interest income from fixed income investmentinstruments as StatementOf Financial Position date should interest rates change by 100 basis points:

2011

GROUP Impact To Income StatementWhen Interest Rates

Change ±100 Basis Points

Increase/(Decrease)(RM’000)

Impact On The Balance Of Available-For-Sale

Financial Assets Reserve When Interest Rates Change

±100 Basis PointsIncrease/(Decrease)

(RM’000)

+100 bps -100 bps +100 bps -100 bps

Fixed Income Instruments 148,192 (135,343) (356,610) 788,627

2010

GROUP Impact To Income StatementWhen Interest Rates






(RM’000)

+100 bps -100 bps +100 bps -100 bps







2011

EPF Impact To Income StatementWhen Interest Rates






(RM’000)

+100 bps -100 bps +100 bps -100 bps


2010

EPF Impact To Income StatementWhen Interest Rates






(RM’000)

+100 bps -100 bps +100 bps -100 bps


c. Foreign Exchange Risk

The EPF operates internationally and is exposed to foreign exchange risk arising from various currencyexposures other than theRinggitMalaysia, the functional currency.

The EPF invests oversea and therefore is exposed to foreign exchange risk.

The investments inglobal sukuk thatare internallymanagedandglobalequitiesaredone inabasketofcurrencieswhichhelpsinmitigatingtheeffectsofforeignexchangerisk.Asfortheglobalsukukportfoliomanaged by the external fund managers and investments in oversea properties, the exposures arehedged to a significant extent to protect against adverse movement in exchange rate. Other exposuresare hedgedwhere appropriate.





c. Foreign Exchange Risk (Cont’d.)

The following table summarises the carrying amount of global investments of the Group and EPF bycurrency as at the StatementOf Financial Position date:

GROUP AND EPF 2011 2010

Global Investments Global Investments(RM’000) % (RM’000) %

Currency:United StatesDollars 15,897,572 27 10,304,326 25Pound Sterling 10,399,461 18 3,912,489 10SingaporeDollars 7,747,084 13 7,005,533 17HongKongDollars 4,486,621 8 3,124,959 8IndonesianRupiah 4,052,685 7 2,360,830 5Thai Baht 3,326,918 6 2,500,335 6northKoreanWon 2,952,512 5 3,093,271 8Japanese Yen 2,950,651 5 2,460,109 6Others 6,635,703 11 6,263,515 15

58,449,207 100 41,025,367 100

Thereisnomaterialimpactonglobalinvestmentswithregardtosensitivityexposuretoforeignexchangerisk.

41.4 Fair Value of Financial Instruments

Fair Value is the amount for which an asset could be exchanged or a liability settled between knowledgeable,willing parties in an arm’s length transaction.

FRS7:Financial Instruments–Disclosures requiresanentity to classify its financial instrumentsheldat fairvalue according to a hierarchy that reflects the significance of observablemarket inputs.

Fair Value Hierarchy

i. Level 1 Quoted Market Prices – Financial instruments are classified as Level 1 if their value isobservable in an activemarket. Such instruments are valued by reference to quoted prices foridentical assets or liabilities in activemarketswhere the quoted price is readily available.

ii. Level 2 Valuation Technique using observable inputs–Financial instrumentsclassifiedasLevel2havebeenvaluedusingmodelswhose inputsareobservable inanactivemarket.Valuationbasedonobservable inputs includes financial instruments such as fixed income securities.

iii. Level 3 Valuation Technique using significant unobservable inputs – Financial instruments areclassified as Level 3 if their valuation incorporates significant inputs that are not based onobservablemarket data. Such inputs are generally determinedbased on observable inputs of asimilar nature, historical observations on the level of the input or other analytical techniques.




41.4 Fair Value of Financial Instruments (Cont’d.)

(a) The following table sets out the financial instruments carried at fair value:

GROUP 2011

Classification of Valuation Techniques

Level 1Quoted

Market Price

(RM’000)

Level 2Using

Observable Inputs

(RM’000)

Level 3Using

Significant Unobservable

Inputs(RM’000)

Total

(RM’000)AssetsAvailable For Sale Financial Assets 149,227,593 12,052,032 2,049,511 163,329,136Financial Assets At Fair Value ThroughProfit/Loss – 793,342 1,219,283 2,012,625

Derivative Financial Assets 417,569 39,215 – 456,784

LiabilitiesDerivative Liabilities – (47,400) – (47,400)

149,645,162 12,837,189 3,268,794 165,751,145

EPF 2011

Classification of Valuation Techniques

Level 1Quoted

Market Price

(RM’000)

Level 2Using

Observable Inputs

(RM’000)

Level 3Using

Significant Unobservable

Inputs(RM’000)

Total

(RM’000)AssetsAvailable For Sale Financial Assets 149,227,593 12,052,032 1,998,440 163,278,065Financial Assets At Fair Value ThroughProfit/Loss – 793,342 465,621 1,258,963

Derivative Financial Assets 417,569 39,215 – 456,784

LiabilitiesDerivative Liabilities – (47,400) – (47,400)

149,645,162 12,837,189 2,464,061 164,946,412




41.4 Fair Value of Financial Instruments (Cont’d.)

(b) The following table provides a reconciliation of themovement between opening and closing balances ofLevel 3 financial instruments measured at fair value using a valuation technique with significantunobservable inputs:

GROUP 2011

Financial Instruments Measured At Fair Value

Available-For-Sale Financial Assets

(RM’000)

Financial Assets At Fair Value Through Profit/Loss

(RM’000)

BalanceAs At 01 January 1,542,353 699,273

Gain/(Losses) Recognised In Income Statement (89,851) 189,236

Gain/(Losses) Recognised InOther Comprehensive Income 322,837 –

Purchases 444,683 410,901

Sales (180,926) (80,127)

Transfer To Level 3 10,415 –

Balance as at 31December 2,049,511 1,219,283

EPF 2011

Financial Instruments Measured At Fair Value

Available-For-Sale Financial Assets

(RM’000)

Financial Assets At Fair Value Through Profit/Loss

(RM’000)

BalanceAs At 01 January 1,542,353 415,552

Gain/(Losses) Recognised In Income Statement (89,850) 50,069

Gain/(Losses) Recognised InOther Comprehensive Income 161,887 –

Purchases 554,561 –

Sales (180,926) –

Transfer To Level 3 10,415 –

Balance as at 31December 1,998,440 465,621



42. RELATED PARTY TRANSACTIONS

a. Related Parties And Relationships

The related parties of and their relationshipwith the EPF are as follows:

Related Parties Relationships

MalaysiaBuilding SocietyBerhad SubsidiaryYTRHarta SdnBhd SubsidiaryAffordableHomes SdnBhd SubsidiaryPPnK –Harta SdnBhd SubsidiaryKwasaProperties SdnBhd SubsidiaryRashidHussainBerhad SubsidiaryKwasa Land SdnBhd SubsidiaryKWASAGlobal (Jersey) Limited SubsidiaryCengal Private Equity Investments (Plc) SubsidiaryJati Private Equity Fund LP SubsidiaryMerbau InvestorsOffshore LP SubsidiaryKwasa Singapore (Solo) Pte Ltd SubsidiaryKwasa Singapore (Duo) Pte Ltd SubsidiaryKwasa Singapore (Trio) Pte Ltd Subsidiary

PancaPesona SdnBhd AssociateMalaysianResourcesCorporationBhd AssociateBandar Eco-Setia SdnBhd AssociateIskandar InvestmentBerhad AssociateHSBCAmanah Takaful (M) SdnBhd AssociateRHBCapital Berhad AssociateSunway SouthQuay SdnBhd AssociateMalakoff CorporationBerhad AssociateColumbia Asia SdnBhd AssociatenusaGapurnaDevelopment SdnBhd AssociatePLUSMalaysia SdnBhd Associate

Subsidiaries AndAssociates AsubsidiaryofSubsidiariesandAssociatesasabovearepartoftheEPF’ssubsidiariesandassociates,asdisclosed innote44 and 45.

KeyManagement Personnel Key Management Personnel consists of the EPF’s Board ofDirectors and its KeyManagement Personnels.

RelatedPartiesOf KeyManagement Personnel i. ClosefamilymembersanddependentsofKeyManagementPersonnels.

ii. Entities of which significant voting power in such entityresides with the Key Management Personnels or itsclose familymembers.



42. RELATED PARTY TRANSACTIONS (CONT’D.)

b. Significant Related Party Balances And Transactions

EPF

Subsidiaries Associates Key Management Personnels

2011 2010 2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000) (RM’000) (RM’000)

As At 31 DecemberIncomeInterest On Loan 12,726 875 – – – –Rental Income 283 276 – – – –Management Fees – 1 – – – –Othernon- Operational Income 453,333 48,085 – – – –

466,342 49,237 – – – –

Amount Due FromLoans, Advances And Financing 1,198,136 535,291 8,457,811 – – –PrivateDebt Securities – – 1,764,528 1,516,300 – –

1,198,136 535,291 10,222,339 1,516,300 – –

Amount Due ToOther Liabilities 97 5 – – – –EPF’s Contributions* – – – – 47,531 31,793

97 5 – – 47,531 31,793

* The EPF’s Contribution balances are for KeyManagement Personnel,which has a significant balance.

Key Management Personnels

The remuneration of theBoard ofDirectors, InvestmentPanels and othermembers ofKeyManagementPersonnelsareas follows:

GROUP EPF

2011 2010 2011 2010(RM’000) (RM’000) (RM’000) (RM’000)

Short TermEmployeeBenefits: Fees/Honorarium 1,105 1,514 1,105 923 Salary AndOtherRemunerations 5,220 4,475 3,646 3,743 Benefit-In-Kind 4,532 3,140 248 131 Share-Based-Payment Schemes 819 769 – –

11,676 9,898 4,999 4,797



43. OPERATING LEASES

43.1 Group And EPF As Lessee

TheGroupandEPFleasesanumberofpremisesunderoperating lease.The leasestypicallyrunforan initialperiod of three years,with an option to renew the leases.noneof the lease includes contingent rentals. Thefutureminimum lease payments under these non-cancellable operating lease are as follows:

GROUP AND EPF

2011 2010(RM’000) (RM’000)

Within 1 Year 13,333 13,584Between 1 To 5 Years 19,813 12,383

33,146 25,967

43.2 Group And EPF As Lessor

TheGroupandEPF leasesout its InvestmentPropertiesunderoperating leaseswith the termsof the leasesranging between three to five years. none of these leases include contingent rentals. The future minimumlease payments under these non-cancellable operating lease are as follows:

GROUP AND EPF

2011 2010(RM’000) (RM’000)

Within 1 Year 139,515 112,399Between 1 To 5 Years 399,499 417,361

539,014 529,760



44. LIST OF SUBSIDIARIES AS AT 31 DECEMBER 2011

a. Details of the Subsidiaries are as follows:

Name Of Company Country OfIncorporation

Effective Equity Interest

Principal Activities

2011 2010% %

Direct Holding–EPF

MalaysiaBuilding SocietyBerhad Malaysia 65.50 66.43 Operatingofloansonthesecurityof freehold and leaseholdproperties

RashidHussainBerhad # Malaysia 98.33 98.33 Investment holding

YTRHarta SdnBhd Malaysia 81 81 Property development

AffordableHomes SdnBhd Malaysia 100 100 Property development

PPnK–Harta SdnBhd Malaysia 85 85 Property development andmanagement

KwasaProperties SdnBhd Malaysia 100 100 Property investment

Kwasa Land SdnBhd Malaysia 100 100 Property investment

KWASAGlobal (Jersey) Limited Channel Islands Britain

100 100 Investment holding

Cengal Private Equity Investments (Plc)

Dublin, Ireland 99.50 99.50 Investment holding fund

Jati Private Equity Fund LP USA 99 99 Investment holding fund

Merbau InvestorsOffshore LP USA 99.50 99.50 Investment holding fund

Kwasa Singapore (Solo) Pte Ltd Singapore 100 – Property investment

Kwasa Singapore (Duo) Pte Ltd Singapore 100 – Property investment

Kwasa Singapore (Trio) Pte Ltd Singapore 100 – Property investment

Subsidiaries Held Through Malaysia Building Society Berhad

MBSBProperties SdnBhd Malaysia 100 100 Rental property

MBSBDevelopment SdnBhd Malaysia 100 100 Property development

Prudent Legacy SdnBhd Malaysia 92 92 Property development

Sigmaprise SdnBhd Malaysia 100 100 Hotel operation

Gadini SdnBhd Malaysia 100 100 Property development

Ganesha SdnBhd Malaysia 100 100 Property development

Springtide SdnBhd Malaysia 100 100 Property development

Trimonds SdnBhd Malaysia 100 100 Investment holding

MBSBProjectManagement SdnBhd Malaysia 100 100 Ceased operation

Definite Pure SdnBhd Malaysia 100 100 Dormant

MalayaBorneoBuilding Society Limited (MBBS)

Singapore 100 100 Dormant

Farawide SdnBhd Malaysia 100 100 Hotel operation

Raynergy SdnBhd Malaysia 100 100 Dormant

IdamanUsahamas SdnBhd Malaysia 100 100 Dormant

OmbakPesaka SdnBhd Malaysia 100 – Hotel operation



44. LIST OF SUBSIDIARIES AS AT 31 DECEMBER 2011 (CONT’D.)

a. Details of the Subsidiaries are as follows: (Cont’d.)


Effective Equity Interest


2011 2010% %

Subsidiaries Held Through KWASA Global (Jersey) Limited

KWSP-KWAP (Jersey) Limited Channel Islands Britain

100 100 Property investment

Subsidiaries Held Through KWSP-KWAP (Jersey) Limited

Whitefriars Limited Channel Islands Britain


PortmanSquare (no.1) Limited Channel Islands Britain


One Sheldon Square Limited Channel Islands Britain


PortmanSquare (no 2.) Limited Channel Islands Britain


# The above company is in the process ofwinding up by the liquidator as of 31December 2011.

45. LIST OF ASSOCIATES AS AT 31 DECEMBER 2011

a. Details of the Associates are as follows:


Effective EquityInterest


2011 2010% %

Direct Holding–EPF

PancaPesona SdnBhd Malaysia 30 30 Housing developer and industryproject

MalaysianResources CorporationBhd

Malaysia 42.21 41.58 Investmentholdingcompanyandconductactivities related toconstruction,propertydevelopmentandmanagementservices to its subsidiaries

Bandar Eco–Setia SdnBhd Malaysia 34 34 Property development

Iskandar InvestmentBerhad Malaysia 20 20 Development ofWilayahPembangunan Iskandar

HSBCAmanah Takaful (M) SdnBhd Malaysia 20 20 Insurance

RHBCapital Berhad Malaysia 44.99 45 Banking

Sunway SouthQuay SdnBhd Malaysia 20 20 Property development






2011 2010% %

Direct Holding–EPF (Cont’d.)

Malakoff CorporationBerhad Malaysia 30 30 Investment holding andprovision formanagementservices

Columbia Asia SdnBhd Malaysia 29.72 29.72 Hospital

nusaGapurnaDevelopment SdnBhd

Malaysia 40 – Investment holding anddevelopment

PLUSMalaysia SdnBhd Malaysia 49 – Infrastructure and utilities

Subsidiaries Held Through RHB Capital Berhad

RHBBankBerhad Malaysia 100 100 Commercial banking

RHB InvestmentBankBerhad Malaysia 100 100 Investment banking

RHB InsuranceBerhad Malaysia 94.70 94.70 General insurance

Straits AssetHoldings SdnBhd Malaysia 100 100 Investment holding

RHBHartanah SdnBhd Malaysia 100 100 Property investment

RHBEquities SdnBhd Malaysia 100 100 Equity related services

RHBCapital (Jersey) Limited Channel Islands Britain

100 100 Investment holding

RHBKawal SdnBhd Malaysia 100 100 Security services

RHBFSdnBhd Malaysia 100 100 Dormant

RHBVentureCapital SdnBhd Malaysia 100 100 Dormant

Subsidiaries Held Through RHB Bank Berhad

RHB IslamicBankBerhad Malaysia 100 100 Islamic banking

RHBBank (L) Ltd Malaysia 100 100 Offshore banking

RHBCapitalnominees (Tempatan) SdnBhd

Malaysia 100 100 nomination services forMalaysian beneficialshareholders

RHB Investment Ltd Singapore 100 100 Property investment and rental

BanforaPte Ltd Singapore 100 100 Property investment and rental

RHBBanknomineesPte Ltd Singapore 100 100 nomination services for foreignbeneficial shareholder

RHBLeasing SdnBhd Malaysia 100 100 Leasing

RHBTrade Services Limited HongKong 100 100 Processing of letters of credit reissuance favouringHongKong beneficiaries

45. LIST OF ASSOCIATES AS AT 31 DECEMBER 2011 (CONT’D.)

a. Details of the Associates are as follows: (Cont’d.)






2011 2010% %

Subsidiaries Held Through RHB Bank Berhad (Cont’d.)

RHBCapital Properties SdnBhd Malaysia 100 100 Property investment

UtamaAssets SdnBhd Malaysia 100 100 Property investment

UMBCSdnBhd Malaysia 100 100 Dormant

RHBDelta SdnBhd Malaysia 100 100 Dormant

UtamaGilang SdnBhd Malaysia 100 100 Dormant

Subsidiaries Held Through RHB Bank (L) Ltd

RHB International Trust (L) Ltd Malaysia 100 100 Offshore trust company

Subsidiaries Held Through RHB International Trust (L) Ltd

RHBCorporate Services SdnBhd Malaysia 100 100 Corporate secretarial services

Subsidiaries Held Through RHB Capital Nominees (Tempatan) Sdn Bhd

RHBCapitalnominees (Asing) SdnBhd

Malaysia 100 100 nomination services for foreignbeneficiary shareholders

Subsidiaries Held Through RHB Investment Bank Berhad

RHBMerchantnominees (Tempatan) SdnBhd

Malaysia 100 100 nomination services forMalaysian beneficiaryshareholders

RHBMerchantnominees (Asing) SdnBhd

Malaysia 100 100 nomination services for foreignbeneficiary shareholders

RHBnominees SdnBhd Malaysia 100 100 nomination and custodianservices

RHBnominees (Asing) SdnBhd Malaysia 100 100 nomination and custodianservices for foreign beneficiaryshareholders








2011 2010% %

Subsidiaries Held Through RHB Investment Bank Berhad

(Cont’d.)

RHBnominees (Tempatan) SdnBhd Malaysia 100 100 nomination and custodianservices forMalaysianbeneficiary shareholders

RHB InvestmentManagement SdnBhd

Malaysia 100 100 Propertymanagement services and unit trusts

RHBResearch Institute SdnBhd Malaysia 100 100 Research services

RHBPrivate EquityHoldings SdnBhd

Malaysia 100 100 Investment holding

RHBExcel SdnBhd Malaysia 100 100 Dormant

RHBProgressive SdnBhd Malaysia 100 100 Dormant

RHBMarketing Services SdnBhd Malaysia 100 100 Dormant

RHBUnit TrustManagementBerhad Malaysia 100 100 Dormant

Subsidiaries Held Through RHB Investment Management Sdn Bhd

RHB Islamic AssetManagement SdnBhd

Malaysia 100 100 Islamic assetmanagement services and Islamic unit trust fundmanagement

Subsidiaries Held Through RHB Private Equity Holdings Sdn Bhd

RHBPrivate EquityManagement Ltd Malaysia 100 100 Investment advisers, investmentconsultants and other related services to a private fund

RHBPrivate Equity Fund Ltd Cayman Islands Britain

100 100 Investment company

Subsidiaries Held Through Straits Asset Holdings Sdn Bhd

SSSBServices (Melaka) SdnBhd Malaysia 100 100 Dormant

SFSBServices (Melaka) SdnBhd Malaysia 100 100 Dormant








2011 2010% %

Subsidiaries Held Through RHB Hartanah Sdn Bhd

Positive Properties SdnBhd Malaysia 100 100 Property investment

RHBPropertyManagement SdnBhd Malaysia 100 100 Property investment

Subsidiaries Held Through RHB Equities Sdn Bhd

KYBSdnBhd Malaysia 100 100 Dormant

Subsidiaries Held Through RHB Capital (Jersey) Limited

RashidHussain Securities (Philipines) Inc.

Philippine 100 100 Dormant

Subsidiaries Held Through RHBF Sdn Bhd

KYFSdnBhd Malaysia 100 100 Dormant

Subsidiaries Held Through Malaysian Resources Corporation Berhad

CosyBonanza SdnBhd Malaysia 65.70 65.70 Property development

ExcellenceBonanza SdnBhd Malaysia 60 60 Property development

Kuala Lumpur Sentral SdnBhd Malaysia 74 64.38 Property development

KonsortiumKOP-HG-MRCB ISOPLAS

Unincorporated 100 100 Design and build a transmission line and sub-stations

LandasUtamaSdnBhd Malaysia 100 100 Investment holding

MRCBUtamaSdnBhd Malaysia 100 100 Property development

Country Annexe SdnBhd Malaysia 70 100 Property development

MRCBSentral Properties SdnBhd Malaysia 100 100 Property development

59inCSdnBhd Malaysia 100 – Development and Investment property

TTSB-SPKConsortium Unincorporated 100 50 Design and build a transmissionlines and sub-station

MRCBEngineering SdnBhd Malaysia 100 100 Engineering and construction services

MRCBEnvironmental Services SdnBhd









2011 2010% %

Subsidiaries Held Through Malaysian Resources Corporation Berhad (Cont’d.)

MRCBPrasarana SdnBhd Malaysia 100 100 Projectmanagement andinvestment holding

MRCBTechnologies SdnBhd Malaysia 100 100 Information technology servicesand professional outsourcing

MalaysianResourcesDevelopment SdnBhd

Malaysia 100 100 Property development andinvestment holding

MalaysianResources Sentral SdnBhd

Malaysia 100 100 Provision of facilitymanagement

Milmix SdnBhd Malaysia 100 100 Civil and infrastructure buildingcontractor

Onesentral Park SdnBhd Malaysia 100 51 Property development

PremaBonanza SdnBhd Malaysia 51 51 Property development

Semasa Sentral SdnBhd Malaysia 100 100 Operation,management andmaintenance of KL Sentralrailway station

Semasa Services SdnBhd Malaysia 100 100 Buildingmanagement services

SemasaParking SdnBhd Malaysia 100 100 Car parkmanagement

Sooka Sentral SdnBhd Malaysia 100 100 Operationalwork,managementandmaintenance of the clubhouse at KL Sentral

SynarGymSdnBhd Malaysia 100 100 Managing and operating fitnesscentre

SuperviewDevelopment SdnBhd Malaysia 100 100 Property development,management and stocktrading

Transmission Technology SdnBhd Malaysia 100 100 Engineering, construction andtesting of the powertransmission system

MafiraHoldings SdnBhd Malaysia 100 100 Investment holding

MRSecurities SdnBhd Malaysia 100 100 Investment holding

MRConstruction SdnBhd Malaysia 51 51 Construction

MREnterprises SdnBhd # Malaysia 100 100 Construction








2011 2010% %

Subsidiaries Held Through Malaysian Resources Corporation Berhad (Cont’d.)

MRManagement SdnBhd # Malaysia 100 100 Investment holding andmanagement services

MR-HPiling AndCivil Engineering (M) SdnBhd

Malaysia 51 51 Piling and civil engineering

MRCBCeramics SdnBhd Malaysia 100 100 Manufacturer, distributor andretailer of ceramic tiles

MRCBDotcomSdnBhd # Malaysia 100 100 Planning andmanagementservices

MRCB Intelligent SystemAnd Control SdnBhd #

Malaysia 100 100 Maintenance services,application systems and othertechnology applications

SemasaDistrict Cooling SdnBhd Malaysia 100 100 One-stop card technologyservice provider

MRCBLand SdnBhd Malaysia 100 100 Management services andproject development

MRCBPropertyManagement SdnBhd

Malaysia 100 100 Investment and propertymanagement

MRCBTrading SdnBhd # Malaysia 100 100 Trading in buildingmaterials

RegionResources SdnBhd Malaysia 100 100 Quarry operations

Sibexlink SdnBhd Malaysia 100 100 Sale of business informationandwebsite development

CheqPoint (M) SdnBhd Malaysia 75 75 Charge card services andinvestment holding

Harmonic Fairway SdnBhd # Malaysia 100 100 Investment holding

MRCBEnergy International SdnBhd #

Malaysia 100 100 Pre-operation

Semasa Sentral (Penang) SdnBhd Malaysia 100 100 Operation,management andmaintenance ofPenangSentral

SemasaACEUrusharta # Malaysia 100 100 Pre-operation

MRCBGreenEnergy SdnBhd Malaysia 100 100 Pre-operation

348 Sentral SdnBhd (formerly knownasGSBSentral SdnBhd)

Malaysia 100 100 Property development andoutsourcing activities








2011 2010% %

Subsidiaries Held Through Kuala Lumpur Sentral Sdn Bhd

Unity Portfolio SdnBhd Malaysia 74 64.38 Propertymanagement

Subsidiaries Held Through MRCB Engineering Sdn Bhd

MRCB (Thailand) Ltd Thailand 100 100 Pre-operating

Subsidiaries Held Through MRCB Environmental Services Sdn Bhd

MRCBEnvironment SdnBhd Malaysia 55 55 Designwork and costruction ofinfrastructure

Subsidiaries Held Through MRCB Prasarana Sdn Bhd

MRCBLingkaran Selatan SdnBhd Malaysia 100 100 Construction, development,design, projectmanagement,operations,maintenance andfinancing of the highwayknown as EasternDispersalLink, JohoreBahru

Subsidiaries Held Through MRCB Lingkaran Selatan Sdn Bhd

MRCBSouthern LinkBhd Malaysia 100 100 Construction, development,projectmanagement andfinancing of the highway andproject infrastructure








2011 2010% %

Subsidiaries Held Through Malaysian Resources Development Sdn Bhd

Bitar Enterprises SdnBhd Malaysia 100 100 Property investment andInvestment holding

Golden East Corporation SdnBhd Malaysia 100 100 Property development andmanagement

Seri IskandarUtilities Corporation SdnBhd #

Malaysia 100 100 Pre-operating

SunriseProperties SdnBhd Malaysia 100 100 Property development

TaiyeeDevelopment SdnBhd # Malaysia 100 100 Property development

MRCBPropertyDevelopment SdnBhd


MRProperties SdnBhd # Malaysia 100 100 Property development

Seri IskandarDevelopment Corporation SdnBhd

Malaysia 70 70 Property development

Subsidiaries Held Through Bitar Enterprises Sdn Bhd

MRCBLand (Australia) Pty Ltd Australia 70 70 Property development

Subsidiaries Held Through MRCB Property Development Sdn Bhd

MRCBCahayaMutiara SdnBhd # Malaysia 100 100 Property development and management

Subsidiaries Held Through Mafira Holdings Sdn Bhd

ZenConcrete Industries SdnBhd Malaysia 38.60 38.60 Manufactures and suppliers ofpre-stressed concrete poles

Subsidiaries Held Through MR Securities Sdn Bhd

Semasa Security SdnBhd Malaysia 100 100 Security guard services








2011 2010% %

Subsidiaries Held Through Region Resources Sdn Bhd

Syarikat GemilangQuarry SdnBhd # Malaysia 100 100 Quarry operations

Subsidiaries Held Through 348 Sentral Sdn Bhd (formerly known as GSB Sentral Sdn Bhd)

348 Sentral Office SdnBhd (fomerly known as GSBSentral Office SdnBhd)


348 Sentral ServiceResidence SdnBhd (fomerly known as GSBSentral Residence SdnBhd)


Associates Held Through Malaysian Resources Corporation Berhad

nuzenCorporation SdnBhd Malaysia 30 30 Investment holding

One IFC SdnBhd Malaysia 30 30 Investment holding

Penang Sentral SdnBhd Malaysia 49 49 Property development

Suasana Sentral Two SdnBhd Malaysia 30 30 Property development

MultimediaConsulting SdnBhd Malaysia - 29 Service application andtechnology information

Kota Francais (M) SdnBhd Malaysia 20 20 Franchisepropertymanagementand advisory services

Subsidiaries Held Through Bandar Eco–Setia Sdn Bhd

Setia EcoParkRecreation SdnBhd Malaysia 100 100 Operate recreation club








2011 2010% %

S ubsidiaries Held Through Iskandar Investment Berhad

Medini IskandarMalaysia SdnBhd("MIM")

Malaysia 75 75 Property investment holdingand providing constructionservices

IskandarCoast SdnBhd (“ICSB”) Malaysia 80 80 Investmentholding andpropertydevelopment

IskandarDevelopment andManagement Services SdnBhd("IDMS")

Malaysia 100 100 Management services

SJICBina SdnBhd Malaysia 100 100 Construction

PeakAlpha Express SdnBhd Malaysia 100 100 Investment holding

Education@Iskandar SdnBhd Malaysia 100 100 Property development andmanagement

Iskandar Assets SdnBhd Malaysia 100 100 Property investment

IskandarHartaHoldings SdnBhd Malaysia 100 100 Holding and propertyinvestment

Medini Land SdnBhd Malaysia 100 100 Holding and propertyinvestment

Iskandar Investment Pte Ltd ("IIPL") Singapore 100 100 Management services

Medini CityManagement SdnBhd Malaysia 100 100 Dormant

Medini Security Services SdnBhd Malaysia 100 100 Dormant

Medini Leisure and EntertainmentSdnBhd

Malaysia 100 100 Dormant

Iskandar Innovation SdnBhd Malaysia 100 100 Dormant

TemasekCeria SdnBhd Malaysia 100 – Investment holding

JasmineAcres SdnBhd Malaysia 100 – Dormant

Subsidiaries Held Throug MIM

Medini Development SdnBhd Malaysia 100 100 Trading properties

Subsidiaries Held Through ICSB

nodedua SdnBhd Malaysia 80 76.80 Dormant

RiverRetreat SdnBhd Malaysia 80 80 Dormant








2011 2010% %

Subsidiaries Held Through IDMS

IskandarManagement Services SdnBhd


Subsidiaries Held Through Peak Alpha Express Sdn Bhd

IDRResorts SdnBhd Malaysia 100 100 Investment holding

Subsidiaries Held Through IDR Resorts Sdn Bhd

IDRAssets SdnBhd Malaysia 100 100 Property development

LLMalaysia Taman TemaSdnBhd (formerly known as IDR Operations SdnBhd)


Subsidiaries Held Through Iskandar Harta Holding Sdn Bhd

UjungMedini SdnBhd Malaysia 100 100 Property development

Subsidiaries Held Through Education @ Iskandar Sdn Bhd

Iskandar Education Village SdnBhd Malaysia 100 100 Property development andmanagement

IskandarBritish School SdnBhd Malaysia 100 100 Property development andmanagement

Iskandar Education EnterpriseSdnBhd

Malaysia 100 100 Property development andmanagement

IskandarMedical School SdnBhd Malaysia 100 100 Property development andmanagement

Associates Held Through Iskandar Investment Berhad

Global Capital AndDevelopment SdnBhd

Malaysia 30 30 Investmentholding andpropertydevelopment

IskandarWaterfront SdnBhd Malaysia 28.50 28.50 Investmentholding andpropertydevelopment








2011 2010% %

Subsidiaries Held Through Malakoff Corporation Berhad

Segari Energy Ventures SdnBhd Malaysia 93.75 93.75 Design,construction,operationandmaintenanceofacombinedcycle power plant, generationand sale of electrical energyand generating capacity ofpower plant

GB3SdnBhd Malaysia 75 75 Design,construction,operationandmaintenanceofacombinedcycle power plant, generationand sale of electrical energyand generating capacity ofpower plant

Wirazone SdnBhd Malaysia 100 100 Bui ld ,own and operate anelectricity distribution systemand a centralised chilledwaterplant system

Prai Power SdnBhd Malaysia 100 100 Design,construction,operationandmaintenanceofacombinedcycle power plant, generationand sale of electrical energyand generating capacity ofpower plant

TanjungBin Power SdnBhd Malaysia 90 90 Design,engineering,procurement,construction, installation andcommisioning, testing,operationand maintenance of 2,100 MVcoal fired electricity generatingfacilities and sales of electricalenergy and generating capacityof thepowerplant

Teknik Janakuasa SdnBhd Malaysia 100 100 Operation and maintenance ofpower plant

Malakoff Engineering SdnBhd Malaysia 100 100 Provides engineering servicesand projectmanagement

DesaKilat SdnBhd Malaysia 54 54 Land reclamation, developmentand sale of reclaimed land








2011 2010% %

Subsidiaries Held Through Malakoff Corporation Berhad

(Cont’d.)

Hypergantic SdnBhd Malaysia 100 100 Investment holding

TuahUtamaSdnBhd Malaysia 100 100 Investment holding

TanjungBin Energy SdnBhd (formerly known as Transpool SdnBhd)

Malaysia 100 100 Design, engineering,procurement, construction,installationand commisioning,testing, operationandmaintenanceof 1,000MVcoalfiredelectricity generatingfacilities and salesof electricalenergy andgenerating capacityof thepowerplant

Malakoff Capital (L) Ltd Malaysia 100 100 Dormant

Spring Assets Limited British Virgin Islands

100 100 Dormant

Malakoff International Limited Cayman Islands Britain

100 100 Offshore investment holding

Malakoff PowerBerhad Malaysia 100 100 Dormant

Powerfield SdnBhd Malaysia 100 – Managing the development of1,000MWof power generation

Malakoff R&DSdnBhd Malaysia 100 – Conduct extensive research and development activity

Subsidiaries Held Through Teknik Janakuasa Sdn Bhd

natural Analysis SdnBhd Malaysia 100 100 Exercise andmaintain powerplant

TJSBGlobal SdnBhd Malaysia 100 100 Investment holding

TJSB International Limited Cayman Islands Britain


TJSBServices SdnBhd Malaysia 100 – Exercise andmaintain powerplant

Subsidiaries Held Through TJSB International Limited

TJSBMiddle East Limited British Virgin Islands

100 100 Exercise andmaintain powerplant

TJSB International (Shoaiba) Limited British Virgin Islands









2011 2010% %

Subsidiaries Held Through Malakoff Engineering Sdn Bhd

MESBProjectManagement SdnBhd Malaysia 100 100 Provides engineering servicesand projectmanagement

Subsidiaries Held Through Malakoff International Limited

Malakoff Gulf Limited British Virgin Islands


Malakoff Technical (Dhofar) Limited British Virgin Islands


Malakoff AlDjazairDesal SdnBhd Malaysia 100 100 Investment holding

Malakoff JordanGeneration Limited British Virgin Islands


Malakoff Ras Azzour Limited British Virgin Islands

100 100 Dormant

Subsidiaries Held Through Malakoff AlDjazair Desal Sdn Bhd

TlemcenDesalination Investment Company SAS

France 70 70 Offshore investment holding

Associates Held Through Malakoff Corporation Berhad

PortDicksonPowerBerhad Malaysia 25 25 Generate and sell electricity

Kapar Energy Ventures SdnBhd Malaysia 40 40 Generate and sell electricity

LekirBulk Terminal SdnBhd Malaysia 20 20 Terminal handling services andcoal

Malaysian ShoaibaConsortium SdnBhd


Saudi-MalaysiaWater&Electricity Company Limited

Saudi Arabia 20 20 Offshore investment holding

ShuaibahWater&Electricity Company Limited

Saudi Arabia 12 12 Design, build, test, running andmaintenance of fuel powerplants andminerals








2011 2010% %

Subsidiaries Held Through Malakoff Corporation Berhad (Cont’d.)

Shuaibah ExpansionHolding Company Limited

Saudi Arabia 12 12 Production of drinkingwater

Shuaibah ExpansionProject Company Limited

Saudi Arabia 11.70 11.70 Development, construction,maintenance,water-basedproducts

Oman Technical Partners Limited British Virgin Islands

43.40 43.40 Offshore investment holding

SalalahPowerHoldings Limited Bermuda 43.40 43.40 Offshore investment holding

Enara Energy Investment Company Jordan 25 25 Offshore investment holding

Central Electricity Generating Company Limited

Jordan 12.75 12.75 Generate electricity

Al-ImtiazOperation AndMaintenance Company Limited

Saudi Arabia 20 20 Implement andmaintain thestations power generation andprocessingminerals

SaudiMalaysiaOperation AndMaintenance ServicesCompanyLimited

Saudi Arabia 20 20 Operation andmaintenance ofpower plant andminerals

Hyflux-TJSBAlgeria SPA Algeria 49 49 Operation andmaintenance ofpower plant andminerals

Subsidiaries Held Through Columbia Asia Sdn Bhd

ColumbiaCapital Berhad Malaysia 100 100 Dormant

Grafik Gelombang SdnBhd Malaysia 100 100 Dormant

UniversalMedicarePte Ltd Singapore 100 100 Dormant

CPHSarawak SdnBhd Malaysia 72.70 72.70 Investment holding

Subsidiaries Held Through Universal Medicare Pte Ltd

PTnusautamaMedicanlindo Indonesia 100 100 Operation ofMedical Centre








2011 2010% %

Subsidiaries Held Through CPH Sarawak Sdn Bhd

TruePeace SdnBhd Malaysia 100 100 Operation ofMedical Centre

Subsidiaries Held Through True Peace Sdn Bhd

Computerised X-ray Scanning SdnBhd

Malaysia 100 100 Scanning x-ray services

SelesaMedical Labs SdnBhd Malaysia 100 100 Dormant

Subsidiaries Held Through Sunway South Quay Sdn Bhd

SunwayMonash-UResidence SdnBhd

Malaysia 100 100 Investment property

Subsidiaries Held Through Nusa Gapurna Development Sdn Bhd GapurnaBuilders SdnBhd Malaysia 40 – Property development and

construction

Gapurna Land SdnBhd Malaysia 40 – Property development

P.J Sentral Development SdnBhd Malaysia 40 – Property development

PuncakWangi SdnBhd Malaysia 40 – Property development

Subsidiaries Held Throughh PLUS Malaysia Sdn Bhd

Projek LebuhrayaUsahasamaBerhad (PlusBerhad)

Malaysia 100 – Investment, development andinfrastructure constructionprojects of roads and highwaysand related activities

# The above company is in the process of voluntarywinding up 31December, 2011





HARTA TANAH KWSP 2011ePF’s PRoPeRties 2011

BIL. NO

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no.29,Ja

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1.01

44,046.00

12192,233.00

123,139.00

no.P

end./

Reg.

no.

47

Strata

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1.31

56,859.00

10182,218.00

134,211.00

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65707

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PT144258

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2,110.00

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Reg.

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5577

Individ

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105996

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Pajaka

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Reg.

no.

5576

Individ

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105995

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Pajaka

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Tasik

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30010Ipoh

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1,819.00

34,319.00

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Reg.

no.

5575

Individ

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105994

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Pajaka

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Reg.

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5574

Individ

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105993

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Reg.

no.

5578

Individ

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105997

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3.62

157,488.00

6134,389.00

106,335.00

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0.57

24,875.00

1283,766.00

61,714.00

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PT34460

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5335,372.55

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5.05

219,977.00

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Individ

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5.00

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Individ

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ual

8829

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1.78

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8.24

358,869.06

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363,567.00

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H.S(D)1704

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3,881.00

310,996.00

10,324.00

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599,524.00

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Individ

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11,151.00

8101,465.00

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Individ

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Individ

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Individ

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1.64

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Geran/

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Individ

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Individ

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631,734.00

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Strata

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Strata

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Individ

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ual

25Pa

jaka

nLe

aseh

old

-sda

-no

.11(Lot26/Lo

t1955),


Sarawa

k

0.03

1,200.00

44,017.00

3,525.00

Belum

Keluar

not i

ssue

d

Individ

uin

divid

ual

26Pa

jaka

nLe

aseh

old

-sda

-no

.10(Lot27/Lo

t1956)


Sarawa

k

0.03

1,200.00

44,017.00

3,525.00

Belum

Keluar

not i

ssue

d

Individ

uin

divid

ual

27Pa

jaka

nLe

aseh

old

32Tana

hdiKuc

hing

Lot5

43,B

lok18,S

alak

La

ndDist

rict,Jln.Buk

itSiol

Med

anJa

ya,93050Kuc

hing

,Sa

rawa

k

3.72

162,043.00

––

–83/18/543

(Salak

Lan

d)

Pajaka

nne

gerino

.4545

Individ

uin

divid

ual

543Blok

18

Pajaka

nLe

aseh

old

33Ba

ngun

anKWSP

Ko

taKinab

alu

no.49,Ja

lanKa

ramun

sing

88598Ko

taKinab

alu,Sab

ah6.51

283,576.00

9861,652.00

498,048.00

town

Lea

se no.

017537496

Individ

uin

divid

ual

4&6

Pajaka

nLe

aseh

old

34Ru

mah

Ked

ai

Tawa

uno

.308,B

lok35,K

omplek

sFa

jarJ

ln.L

emba

ga,91000

Tawa

u,Sab

ah

0.08

3,470.00

413,734.00

13,124.00

TLno.

107516674

Individ

uin

divid

ual

3Pa

jaka

nLe

aseh

old

35Ru

mah

Ked

ai

Kening

auLo

tno.18,Ken

inga

uCo

mmercia

lCen

treOffJln.

Masak

89000Ken

inga

u,

Saba

h

0.03

1,201.00

44,968.00

4,500.00

C.L

135343298

Individ

uin

divid

ual

18Pa

jaka

nLe

aseh

old

-sda

-Lo

tno.19,Ken

inga

uCo

mmercia

lCen

tre,O

ffJln.

Masak

89000Ken

inga

u,

Saba

h

0.03

1,201.00

45,367.00

4,390.00

C.L

135343305

Individ

uin

divid

ual

19Pa

jaka

nLe

aseh

old

36Ru

mah

Ked

ai

Laha

dDa

tuLo

tno.65,FajarCen

treJl

n.

Sega

ma,91100Lah

adDatu

Saba

h

0.05

2,087.00

35,244.00

4,373.00

C.L

115383072

Individ

uin

divid

ual

65Pa

jaka

nLe

aseh

old

37Ru

mah

Ked

ai

Kuda

tLo

tno.8,Jln.O

KKHj.Gh

ani

89050Ku

dat,Sa

bah

0.03

1,500.00

34,500.00

4,372.00

T.L

057503796

Individ

uin

divid

ual

8Pa

jaka

nLe

aseh

old



BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

38Tana

hdiLab

uan

Jln.OKK

Abd

ullah87000

W.P.L

abua

n0.59

25,700.00

town

Gra

nt207507828

Individ

uin

divid

ual

–Pa

jaka

nLe

aseh

old

39Ba

ngun

anKWSP

Ku

alaTereng

ganu

LotP

T1324K,M

ukim

Ca

bang

Tiga(Jln.P

adan

gHiliran

)21000Kua

la

Tereng

ganu

,Teren

ggan

u

2.90

126,391.00

370,599.60

31,505.90

H.S(D)6

305

Individ

uin

divid

ual

PT1324K

Pajaka

nLe

aseh

old

40Ba

ngun

anIb

uPe

jaba

tKWSP

Ku

alaLu

mpu

r

no.5Ja

lanRa

jaLau

t50350Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

1.70

74,056.00

28869,937.00

441,476.00

Geran/

Gran

t no

.7160

Individ

uin

divid

ual

1510

Seksyen46

Keka

lFr

eeho

ld

41Ba

ngun

anKWSP

Ch

angk

atRaja

Chulan

no.3,C

hang

katR

ajaCh

ulan

Off,Jln.RajaCh

ulan

50200Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

0.49

21,235.00

121/2

185,139.00

110,524.00

Geran/

Gran

tno

.36467

Individ

uin

divid

ual

19Sek

syen

57

Keka

lFr

eeho

ld

42PlazaSe

ntral

Blok

1A,PlazaSen

tralJ

alan

Stesen

Sen

tral5

50470Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

0.00

–17

161,620.00

Belum

Keluar

not i

ssue

d

Strata

PT27

Pajaka

nLe

aseh

old

43Tana

hdiW

ilayah

Persek

utua

nLo

tPT33292,M

ukim

Pe

talin

gSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

8.41

366,383.56

––

H.S(D)

22712

Individ

uin

divid

ual

PT33292

Pajaka

nLe

aseh

old

-sda

-Lo

tPT33293,M

ukim

Pe

talin

gSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

4.98

216,832.57

––

H.S(D)

22713

Individ

uin

divid

ual

PT33293

Pajaka

nLe

aseh

old

-sda

-Se

baha

gian

Lotno.PT1793,

Muk

imKua

laLum

pur

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

23.54

1,025,476.09

–H.S(D)

50114

Individ

uin

divid

ual

PT1793

Pajaka

nLe

aseh

old

-sda

-Lo

tPT7147,

Muk

imPetalingSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

1.05

45,638.98

––

H.S(D)

99352

Individ

uin

divid

ual

PT7147

Pajaka

nLe

aseh

old




BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

-sda

-Lo

tPT7151,

Muk

imPetalingSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

21.40

932,154.61

––

H.S(D)

99351

Individ

uin

divid

ual

PT7151

Pajaka

nLe

aseh

old

-sda

-Lo

tPT7161,

Muk

imPetalingSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

22.60

984,348.81

––

–H.S(D)

99348

Individ

uin

divid

ual

PT7161

Pajaka

nLe

aseh

old

-sda

-Lo

tPT7169,

Muk

imPetalingSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

23.75

1,034,530.15

––

–H.S(D)

99349

Individ

uin

divid

ual

PT7169

Pajaka

nLe

aseh

old

-sda

-Lo

tPT7155,

Muk

imPetalingSg

.Besi,

57000Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

14.47

630,302.28

––

–H.S(D)

99347

Individ

uin

divid

ual

PT7155

Pajaka

nLe

aseh

old

-sda

-Lo

tPT7171,M

ukim

Pe

talin

gSg

.Besi,57000

KualaLu

mpu

rWila

yah

Persek

utua

n

18.54

807,422.42

––

–H.S(D)

99351

Individ

uin

divid

ual

PT7171

Pajaka

nLe

aseh

old

44Wism

aKF

Cno

.17,Ja

lanSu

ltanIsmail

Wila

yahPe

rsek

utua

nWila

yahPe

rsek

utua

n

0.50

21,915.32

22342,145.00

175,292.00

Geran/

Gran

t no

.30180

Individ

uin

divid

ual

Lot1

260

Seksyen57

Keka

lFr

eeho

ld

45Ko

mplek

sSOG

O190JalanTu

anku

Ab

dulR

ahman

50100Ku

alaLu

mpu

rWila

yahPe

rsek

utua

n

2.96

128,951.64

61,078,285.00

639,579.00

Pn25757

Individ

uin

divid

ual

Lot1

733

Pajaka

nLe

aseh

old

46Ru

mah

Ked

ai

Kajang

no.1,Jalan

Hen

tian3Pu

sat

HentianKa

jang

43000Ka

jang

,Selan

gor

0.08

3,649.00

41/2

22,039.24

20,062.72

Paj.Muk

im

832

Individ

uin

divid

ual

Lot4

97Pa

jaka

nLe

aseh

old

47Ho

telA

villio

nAd

mira

lCove

MarinaVista,Batu5,

71000Po

rtDickson,

nege

riSe

mbilan.

1.50

65,304.37

10

70,896.03

70,896.03

Pn11180

(Blok

Semen

tara

P1)

Strata

Lot6097,

Mukim

Si

RusaDaerah

PortDickson

negeri

Sembilan

Pajaka

nLe

aseh

old



BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

EPF-CIMBPR

OPER

TIES

48Ru

mah

Ked

ai4

tingk

at1&3Jalan9/55A

Taman

Setiawa

ngsa

54200Ku

alaLu

mpu

r

0.31

13,294.00

413,294.00

13,294.00

n/a

Strata

Parcel

2-G,2-1,

2-2

Keka

lFr

eeho

ld

49Ru

mah

Ked

ai2

tingk

at1&3JalanPa

ndak

Mayah

1Kua

h,

07000Pu

lauLa

ngka

wi

Keda

h

0.07

2,885.00

25,359.00

4,690.00

GRn26875

GRn26876

Individ

uin

divid

ual

Lot2

203

Lot2

204

Keka

lFr

eeho

ld

50Lo

tKom

ersia

l1

unit

101Grou

ndFloor(L

evel1)

SatokBu

ildingJalanSa

tok

93400Ku

chingSa

rawa

k

n/a

n/a

1n/a

13,358.00

TCLRP

050

Strata

Lot2

31Ke

kal

Free

hold

51Ba

ngun

an2

Ting

kat('Pre-w

ar

build

ing')

110JalanBe

ndah

ara,

75100Melak

a0.33

14,369.00

28,409.00

8,114.00

GRn12186

Individ

uin

divid

ual

Lot2

53Ke

kal

Free

hold

52Ru

mah

Ked

ai/

Pejaba

tteres4

tingk

at

113&114,Ja

lanGe

nuan

g85000Se

gamat,Joh

or0.04

1,648.00

413,174.00

12,832.00

GRn191398

GRn191399

Individ

uin

divid

ual

Lot1

383

Lot1

384

Keka

lFr

eeho

ld

53Ru

mah

Ked

ai/

Pejaba

tteres2

tingk

at

1284,Jalan

BaruTaman

Ch

aiLen

g,13600Perai

PulauPina

ng

0.09

4,026.00

24,630.00

4,490.00

GRn33727

Individ

uin

divid

ual

Lot6

99Ke

kal

Free

hold

54Ru

mah

Ked

aiTe

res

2tin

gkat

1307,1308&1309,

JalanBe

sarS

unga

iBak

ap

14200Su

ngaiJa

wi

PulauPina

ng

0.08

3,595.00

26,726.00

6,384.00

GM715,716

&717

Individ

uin

divid

ual

Lot

1091,1092

&1093

Keka

lFr

eeho

ld

55Ru

mah

Ked

ai/

Pejaba

tteres3

tingk

at

138140&142Jalan

Burhan

uddinHe

lmi

Taman

TunDr

Ismail

60000Ku

alaLu

mpu

r

0.16

7,050.00

315,738.00

14,701.00

GRn40132,

40133,

40134

Individ

uin

divid

ual

Lot3

0446,

30447,

30448

Keka

lFr

eeho

ld

56Ru

mah

Ked

ai/

Pejaba

tTeres4

tingk

at

14Ja

lanSriS

elayan

gTaman

SriSe

layang

68100Ba

tuCaves

0.08

3,597.00

413,563.00

12,569.00

HSD15424

Individ

uin

divid

ual

PT134

Sek.6

Keka

lFr

eeho

ld

57Ru

mah

Ked

ai/

Pejaba

tTeres4

tingk

at

193B

&193CBa

tu45Jalan

Skud

ai,80200Ta

mpo

i,Joho

r0.07

3,078.00

411,408.00

9,756.00

HSD48531

&48532

Individ

uin

divid

ual

PTB12606

&12607

Keka

lFr

eeho

ld




BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

58Ru

mah

Ked

ai/

Pejaba

tteres31/2

tingk

at

2JalanKa

skasTa

man

Ch

eras,56100Kua

la

Lumpu

r

0.06

2,629.00

31/2

8,585.00

7,789.00

GRn1150

Individ

uin

divid

ual

Lot1

6743

Keka

lFr

eeho

ld

59Ru

mah

Ked

ai/

Pejaba

tteres3

tingk

at

2JalanSG

1/2Taman

Sri

Gomba

kOffJ

alan

Batu

Caves,68100BatuCa

ves

Selang

or

0.06

2,688.00

37637.00

6,963.00

HSD9076

Individ

uin

divid

ual

PT7530

Keka

lFr

eeho

ld

60Ba

nglo2ting

kat

21Ja

lanAyerItam

11400Pu

lauPina

ng0.42

18,387.00

27690

6,315

GRn32458

Individ

uin

divid

ual

Lot1

667

Sek.2

Keka

lFr

eeho

ld

612Un

itRu

mah

Ke

dai/P

ejab

atte

res

4Ting

kat

227&228JalanBa

ndar13,

53100Taman

Melaw

ati

Selang

or

0.08

3,627.00

414481

13851

GRn40561

GRn40562

Individ

uin

divid

ual

Lot1

4643,

14644

Keka

lFr

eeho

ld

62Ru

mah

Ked

ai/

Pejaba

t3ting

kat

280JalanBe

sar,

45600Ba

tang

Berjuntai,

Selang

or

0.07

3,102.00

313,776.00

13,008.00

HSM80

Individ

uin

divid

ual

Lot2

80Ke

kal

Free

hold

63Bg

nKo

mersia

l5

1/2tin

gkat

3083Ja

lanSu

ltanIsmail

20200Ku

alaTereng

ganu

Tereng

ganu

0.18

8,000.00

5.5

44,424.00

23,907.00

GRn6774

Individ

uin

divid

ual

Lot3

083

Keka

lFr

eeho

ld

64Ru

mah

Ked

ai/

Pejaba

t21/2

tingk

at

33Ja

lanLe

eMingHin

31450Men

glem

buPerak

.0.04

1,938.00

24,783.00

4,437.00

GRn112757

Individ

uin

divid

ual

Lot5

15Ke

kal

Free

hold

65Ba

ngun

anPejab

at

41/2tin

gkat

34Ja

lanTu

nPe

rak

50050Ku

alaLu

mpu

r0.09

3,807.00

4.5

17,478.00

17,078.00

GRn37278

GRn31753

Individ

uin

divid

ual

Lot9

0Ke

kal

Free

hold

663Un

itRu

mah

Ke

dai/P

ejab

at2

tingk

at

4232-4234JalanBe

sar

71960Bu

kitP

elan

duk

nege

riSe

mbilan

0.12

5,295.00

210,560.00

10,098.00

GM366

GM367

GM368

Individ

uin

divid

ual

Lot4

232

Lot4

233

Lot4

234

Keka

lFr

eeho

ld

672Un

itRu

mah

Ke

dai/P

ejab

atte

res

31/2tin

gkat

48&50JalanSS

21/35

43400Da

man

saraUtama

Selang

or

0.08

3,600.00

3.5

13,772.00

13,004.00

HSD10378

HSD10379

Individ

uin

divid

ual

PT748

PT747

Keka

lFr

eeho

ld

682Un

itRu

mah

Ke

dai/P

ejab

at51&53JalanTaipingUtara

Taman

TaipingUtara

34600Ka

mun

tingTaiping

Perak

0.08

3,390.00

110,173.00

9,459.00

GRn47010

GRn47035

Individ

uin

divid

ual

Lot2

1675

Lot2

1676

Keka

lFr

eeho

ld



BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

692Un

itRu

mah

Ke

dai/P

ejab

atte

res

2tin

gkat

522&523,no.139&140

JalanDa

to'n

ikM

ustafa

17500Tana

hMerah

Ke

lantan

0.19

8,400.00

28,400.00

8,200.00

GRn17710

GRn17709

GRn17708

GRn17707

Individ

uin

divid

ual

Lot1

40Lo

t139

Lot1

38Lo

t137

Keka

lFr

eeho

ld

70Ba

ngun

anPejab

at

24ting

kat

6JalanTu

nPe

rak

50050Ku

alaLu

mpu

r0.45

19,483.00

24225,429.00

139,025.00

GRn10600

Individ

uin

divid

ual

Lot1

25

Sek.0006

Keka

lFr

eeho

ld

712Un

itRu

mah

Ke

dai/P

ejab

at3

tingk

at

no69&71,Jalan

Kua

la

Perlis,Pek

anKua

laPerlis

02000Pe

rlis

0.07

3,208.00

38,824.00

8,274.00

GRn2112

GRn2113

Individ

uin

divid

ual

Lot2

004

Lot2

005

Keka

lFr

eeho

ld

724Un

itdiBan

guna

nKo

mersia

l4

tinag

kat

7&8JalanCh

ainFe

rry

Taman

Inde

rawa

sih

13600Prai,P

ulau

Pinan

g

n/a

n/a

410,376.00

10,376.00

GRn60387

Strata

Lot2

887

Keka

lFr

eeho

ld

73Ba

ngun

anPejab

at

41/2tin

gkat

80&82JalanBe

ndah

ara

75100Melak

a0.14

6,125.00

4.5

23,472.00

23,116.00

GRn5448

GRn5449

Individ

uin

divid

ual

Lot3

54Lo

t355

Keka

lFr

eeho

ld

74Ba

ngun

anPejab

at

7tin

gkat

83M

edan

Setia1Plaza

Daman

saraBuk

itDa

man

sara

50490Ku

alaLu

mpu

r

0.99

43,324.00

7325,016.00

160,974.00

GRn49880

Individ

uin

divid

ual

Lot5

3833

Keka

lFr

eeho

ld

752Un

itRu

mah

Ke

dai/P

ejab

atte

res

2tin

gkat

87&89JalanPa

hlaw

an

1Taman

Ung

kuAminah

Sk

udai,81300Jo

horB

ahru

Joho

r

0.07

3,078.00

25,940.00

5632

GRn30677

GRn30676

Individ

uin

divid

ual

Lot9

995

Lot9

996

Keka

lFr

eeho

ld

76Ru

mah

ked

ai2

tingk

at98&101Ja

lanGo

peng

31900Ka

mpa

r,Pe

rak

0.11

4,800.00

28,400.00

8,120.00

GRn62585

GRn62586

Lot2

50Lo

t251

Keka

lFr

eeho

ld

77Ru

mah

Ked

ai/

Pejaba

t3ting

kat

AG9495,Jalan

Sim

pang

Em

patA

lorG

ajah

,Melak

a0.04

1,600.00

34,800.00

4,480.00

GRn2235

Individ

uin

divid

ual

Lot1

36Ke

kal

Free

hold

78Ba

ngun

anPejab

at

6tin

gkat

Bang

unan

CIM

BBa

nkJa

lan

Maju,15000KotaBa

hru

Kelantan

0.12

5,264.00

621,974.00

15,637.00

GRn21350

GRn21351

GRn21352

Individ

uin

divid

ual

Lot1

012

Lot1

013

Lot1

041

Keka

lFr

eeho

ld

795un

itlot

perniaga

andi

Holid

ayPlaza

F122F123&F1

24(1

stFloor)

Holid

ayPlaza

JalanDa

to'S

ulaiman

80250Joho

rBah

ru,Joh

or

n/a

n/a

55,176

5,176.01

GRn28721

Strata

Lot1

6914

Keka

lFr

eeho

ld




BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

80Ho

lidayPlaza,JB

(Lotkom

ersia

ldi

dalamKom

plek

sPe

rdag

anga

n)

G86&G8

7(Groun

dFloo

r)Ho

lidayPlaza

JalanDa

to’S

ulaiman

80250Joho

rBah

ru,Joh

or

n/a

n/a

1.00

n/a

5,176.00

n/a

Geran

(Master

Title

,masih

tiada

hak

milik

strata)

Lot1

6914

Keka

lFr

eeho

ld

81Ba

ngun

anPejab

at

3tin

gkat

Level1

2&3,W

ismaSq

uare

Point1

JalanPe

ngka

lan

Chep

a,15400KotaBa

hru

Kelantan

n/a

n/a

312,530

11,076.00

G16485

Strata

Lot1

50Ke

kal

Free

hold

82Ba

ngun

anPejab

at

51/2tin

gkat

OrientalBuilding32

JalanTu

nPe

rak

50050Ku

alaLu

mpu

r

0.11

4,664.00

5.5

22,524.00

17,108.00

GRn10934

Individ

uin

divid

ual

Lot8

0Ke

kal

Free

hold

832Un

itrumah

ke

dai/p

ejab

atte

res

3tin

gkat

24A&24B,

JalanKa

mpo

ngBaru,

08000Su

ngaiPetan

iKed

ah

0.08

3,401.00

38,678.00

8,366.00

GM8612

GM8613

Individ

uin

divid

ual

Lot7

46Lo

t749

Keka

lFr

eeho

ld

84Ru

mah

Ked

ai/

Pejaba

t3ting

kat

PT11Taman

Buk

itPiatu

75150Bu

kitB

aru,M

elak

a0.06

2,519.00

34,620.00

4,466.00

GRn30371

Individ

uin

divid

ual

Lot1

042

Pajaka

nLe

aseh

old

85Ru

mah

Ked

ai/

Pejaba

tTeres4

tingk

at

13,P

usatPerda

gang

an

JalanBa

ndar

81700Pa

sirGud

ang,Jo

hor

0.08

3,616.00

415,440.00

14,750.00

HSD380745

Individ

uin

divid

ual

Lot9

2535

Pajaka

nLe

aseh

old

86Ru

mah

Ked

ai/

Pejaba

tTeres4

tingk

at

14Ja

lanTeng

kuAmpu

an

Zabe

dah,D9/DSe

ksyen9

40100Sh

ahAlam,S

elan

gor

0.04

1,800.00

47,320.00

6,984.00

HSD100863

Individ

uin

divid

ual

PT589

Pajaka

nLe

aseh

old

872Un

itrumah

ke

dai/p

ejab

atte

res

4tin

gkat

151&153Jalan2/3A

Off

12km

JalanIpoh

BatuCa

ves

68100Se

layang

,Selan

gor

0.07

2,970

411,569.00

10,855.00

Pn37557

Pn37554

Individ

uin

divid

ual

Lot4

5375

Lot4

5374

Pajaka

nLe

aseh

old

88Lo

tperniag

aantkt

bawa

h&satudi

bang

unan

pejab

at

12ting

kat

1A&2BWism

aDe

wan

Perniaga

anM

elayunS

JalanDa

to’B

anda

rTun

ggal

70000Se

remba

nne

geriSe

mbilan

n/a

n/a

217,928.00

17,928.00

HSD133328

Strata

Lot9

759

Pajaka

nLe

aseh

old



BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

89Lo

tperniag

aan

diru

mah

ked

ai/

pejaba

t

1-G-

2BM

edan

Batu

Lanc

hang

11600

George

town

,Pulau

Pinan

g

n/a

n/a

13,108.00

3,108.00

n/a

Strata

Parcelno.

K/C/00/02

Pajaka

nLe

aseh

old

902Un

itrumah

ke

dai/p

ejab

atte

res

2tin

gkat

23&24JalanTaha

n27000Jerantut,P

ahan

g0.09

4,000.00

26,080.00

5,800.00

HSD1089

Individ

uin

divid

ual

PT4066

PT4067

Pajaka

nLe

aseh

old

912Un

itRu

mah

Ke

dai/p

ejab

atte

res

2tin

gkat

2673&2674MainRo

ad

36700La

ngka

p,Perak

0.07

3,208.00

25,672.00

5,392.00

Pn123146

Pn123147

Individ

uin

divid

ual

Lot8

874

Lot8

875

Pajaka

nLe

aseh

old

922Un

itrumah

ke

dai/p

ejab

atte

res

3tin

gkat

281&282JalanRu

bber

93400Ku

ching,Saraw

ak0.07

2,963.00

38,865.00

8,195.00

LCGS

012

00900281

LCGS

012

00900282

Individ

uin

divid

ual

Lot2

81Lo

t282

Pajaka

nLe

aseh

old

932Un

itrumah

ke

dai/p

ejab

atte

res

2tin

gkat

32&33JalanPa

sar

36000TelukIntan,Perak

0.07

3,208.00

26,400.00

6,038.00

Pn224345

Pn224346

Individ

uin

divid

ual

Lot3

571

Lot3

572

Pajaka

nLe

aseh

old

94Ru

mah

Ked

ai/

pejaba

tteres2

tingk

at

395Jalan1A

/1

Band

arBaruSg

Buloh

,47000Su

ngaiBuloh

,Se

lang

or

0.05

2,164.00

24,330.00

4,002.00

PM1545

Individ

uin

divid

ual

Lot1

8970

Pajaka

nLe

aseh

old

952Un

itrumah

ke

dai/p

ejab

atte

res

41/2ting

kat

43Ja

lanBa

ratO

ffJalan

Imbi55100Kua

laLum

pur

0.09

4,026.00

423,009.00

22,645.00

Pn1473

Pn1474

Individ

uin

divid

ual

Lot1

189

Lot1

190

Pajaka

nLe

aseh

old

962Un

itRu

mah

Ke

dai/p

ejab

atte

res

2tin

gkat

47&48JalanBa

ndar

Band

arBaruMaran

26500Maran

,Pah

ang

0.06

2,417.00

24,389.00

4,164.00

HSD641

HSD642

Individ

uin

divid

ual

PT1478

PT1479

Pajaka

nLe

aseh

old

972Un

itRu

mah

Ke

dai/p

ejab

atte

res

2tin

gkat

49&51JalanPina

ngB18/B

Sek18,40000Sha

hAlam

0.07

3,300.00

26,600.00

5,628.00

HSD50705

HSD50704

Individ

uin

divid

ual

PT2089

PT2088

Pajaka

nLe

aseh

old

982un

itRu

mah

ke

dai/p

ejab

atte

res

2tin

gkat

no.50&52,P

ersia

ran

Gree

ntow

n1,Green

town

Bu

sinessC

entre

,30450Ip

oh

Perak

0.08

3,596.00

4n/a

13,728.00

Pn147509

&Pn

147510

Individ

uin

divid

ual

9343n&

9344n

Pajaka

nLe

aseh

old

992Un

itrumah

ked

ai

2tin

gkat

6&7JalanKe

licap

34200Pa

ritBun

tar,Pe

rak

0.06

2,798.00

25,560.00

5,280.00

Pn275006

Pn275007

Individ

uin

divid

ual

Lot3

342

Lot3

343

Pajaka

nLe

aseh

old




BIL. NO

.

MAK

LUM

AT H

ARTA

TA

NAH

PROP

ERTI

ES

DETA

ILS

ALAM

AT

ADDR

ESS

LUAS

TANA

H (E

KAR)

LAN

D AR

EA

(ACR

EAGE

)

LUAS

TANA

H (K

.P.)

LAND

ARE

A (S

Q.FT

.)

BIL.

TI

NGKA

T

NO. O

F FL

OOR

LUAS

LAN

TAI

KASA

R (K

.P.)

GROS

S FL

OOR

AREA

(SQ.

FT.)

LUAS

LAN

TAI

BERS

IH (K

.P.)

NET

FLOO

R AR

EA (S

Q.FT

.)

NO. H

AK

MIL

IK

TITL

E N

O.

JENI

S HA

K M

ILIK

TITL

E TY

PE

NO. L

OT

LOT

NO.

JENI

S PE

GANG

AN

LAND

TE

NURE

100

Pusatlatihan

Pu

satputra

60Ja

lanAirH

itamBan

gi

43000Se

lang

or12.2eka

r531,543.00

3187,697.00

187,697.00

Pn36935

Individ

uin

divid

ual

Lot1

4615

Pajaka

nLe

aseh

old

101

2Un

itrumah

ked

ai

2Ting

kat

613&615,Ja

lanTasik

31400Ipoh

,Perak

0.07

3078k.p

26,010.00

5,658.00

Pn68076

Pn68077

Individ

uin

divid

ual

Lot9

0636

Lot9

0655

Pajaka

nLe

aseh

old

102

2Un

itrumah

Ked

ai

3tin

gkat

(7&8)J

alan

Ahm

adSha

h1

28000Temerloh,Pah

ang

0.06

2400kp

3

8,400.00

8,028.00

HSD4025

HSD4026

Individ

uin

divid

ual

PT3532

PT3533

Pajaka

nLe

aseh

old

103

6Un

itrumah

ked

ai

4tin

gkat

7,8,9Block30Fajar

ComplexJa

lanHa

jiKarim

91000Tawa

u,Sab

ah

n/a

n/a

29,515.00

9,515.00

no.

107525940

Strata

000700107

000800108

000900109

Pajaka

nLe

aseh

old

104

Rumah

ked

ai2

tingk

at9,BlockCRan

aunew

Town

Ce

ntre,JlnPek

an

89300Ra

nauSa

bah

0.03

1,400.00

24,600.00

4,400.00

TL

067500396

n/a

67500396

Pajaka

nLe

aseh

old

105

Komplek

sPe

rniaga

anE0

06Tingk

atBaw

ah

Podium

BlockFinan

cial

Park,W

ilayahPe

rsek

utua

nLa

buan

n/a

n/a

16,736.00

6,736.00

Town

Leases

207531502 &

207531995

Strata

LotE

006

Pajaka

nLe

aseh

old

106

Apartm

ent

Unitno

.14-06,tkt.14

Alph

aPa

rkCon

dominium

Fina

ncialP

arkLa

buan

Wila

yahPe

rsek

uanLa

buan

n/a

n/a

12,029.00

2,029.00

Town

Lea

se

207531502 &

207531995

Strata

Lot1

4-06

Pajaka

nLe

aseh

old

107

1Un

itKo

mplek

sPe

rdag

anga

nG-

08Prang

inM

allK

omtar

JalanDr

Lim

Chw

eeLeo

ng

10100Ge

orge

town

Pu

lauPina

ng

n/a

n/a

13,603.00

3,603.00

n/a

Strata

Parcel

G-08

Pajaka

nLe

aseh

old

108

2Un

itko

mplek

spe

rdag

anga

n3

tingk

at

Ting

katB

awah

32&32A

JalanMah

suri,

11950Ba

ndarBayan

Baru,

PulauPina

ng

n/a

n/a

112,572.00

12,572.00

Pn2262/

M1/1/1

Pn2262/

M1/2/2

Strata

Lot9

539

Pajaka

nLe

aseh

old

109

Rumah

ked

ai4

tingk

atLo

t24JalanKa

mpo

ngAir4

88000Ko

taKinab

alu,Sab

ah0.04

1,883.00

45,934.00

5,346.00

TL

017529261

Individ

uin

divid

ual

Lot2

4Pa

jaka

nLe

aseh

old



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Tel :03-26946566/26947566/ 03-26948566/26949566

Faks/Fax :03-26988213

PUDU TingkatBawah,Mezzanine&SatuBangunanKWSPno.3,ChangkatRajaChulanOffJalanRajaChulan50200KualaLumpur

Tel :03-20786788Faks/Fax :03-20264570

KEPOnG no.34&36,JlnMetroPerdana8TamanUsahawanKepongKepongUtara51200KualaLumpur

Tel :03-62589521Faks/Fax :03-62525417

PejabatPenguatkuasaanKWSPKepongTingkat13,BangunanKWSPJalanRajaLaut50350KualaLumpur

Tel :03-26946566/26947566 03-26948566/26949566Faks/Fax :03-26923260

SETAPAK no.66(K33),Jalan8/23ETamanDanauKotaOffJalanGentingKlangSetapak,53300KualaLumpur

Tel :03-41499499/41425992Faks/Fax :03-41435488

CHERAS Unit68-1-5,DataranShamelinno.68Jalan4/91TamanShamelinPerkasa56100KualaLumpur

Tel :03-92003304Faks/Fax :03-92874112

PejabatPenguatkuasaanKWSPCherasTingkat7,BangunanKWSPJalanRajaLaut50350KualaLumpur

Tel :03-26946566/26947566 03-26948566/26949566Faks/Fax :03-26989827

SELAnGOR PETALInGJAYA BangunanKWSPJalanGasing46598PetalingJaya,Selangor

Tel :03-79557550/79557551Faks/Fax :03-79609519

SHAHALAM Tingkat1,2,3&4MenaraPertubuhanPeladangnegeriSelangor(PPnS)PusatDaganganUMnOShahAlamLot8,PersiaranDamai40000ShahAlam,Selangor

Tel :03-55192155Faks/Fax :03-55122927

(Bhg.Perkhidmatan/ Caruman/sevice/ contributions Division) 03-55194993 (Bhg.Penguatkuasaan/ enforcement Div.)

KAJAnG TingkatBawah,M,1,2,&3no.1,JalanHentian3PusatHentianKajangJalanReko,43000Kajang,Selangor

Tel :03-87375223/37/42Faks/Fax :03-87370261/87394691

KLAnG UnitB-G-1,GF&1FnorthTower(TowerB)BBTOneLebuhBatunilam1BandarBukitTinggi41200Klang,Selangor

Tel :03-33251625/33251626Faks/Fax :03-33251615

(SeksyenPerkhidmatan/ service sec.) 03-33251614 (SeksyenPenguatkuasaan/ enforcement sec.)

IBU PEJABAT, PEJABAT CAWANGAN DAN KAUNTER KWSPHeaDQUaRteRs, BRanCH oFFiCes anD seRViCe CoUnteRs



NEGERISTATE

CAWANGANBRANCH

LOKASILOCATION


PUCHOnG no19,JalanBandar18PusatBandarPuchong47100Puchong,Selangor

Tel :03-80754747Faks/Fax :03-80769649

GOMBAK TingkatBawah&Mezzanineno.2&4,JalanMedanBatuCaves168100BatuCaves,Selangor

Tel :03-61850780/61850782Faks/Fax :03-61850785

KUALASELAnGOR

LotG.01,TingkatBawahKompleksPKnSJalanPerusahaanSatuTamanIKS,45000KualaSelangor,Selangor

Tel :03-32896504Faks/Fax :03-32898257

MELAKA MELAKA BangunanKWSPJalanMITC,HangTuahJaya75450AyerKeroh,Melaka

Tel :06-2853200Faks/Fax :06-2324585/2324560

ALORGAJAH AG8670,Lot10KompleksPerniagaanAlorGajahJalanBesar78000AlorGajah,Melaka

Tel :06-5565919Faks/Fax :06-5565915

JASIn TingkatBawah,no.JA9954BandarBaruJasinIII77000Jasin,Melaka

Tel :06-5295330Faks/Fax :06-5295382

JOHOR JOHORBAHRU BangunanKWSPJalanDato’Dalam80000JohorBahru,Johor

Tel :07-2225234/2226234 07-2227234

Faks/Fax :07-2228234

KLUAnG no.8&10,TingkatBawah1&2,JalanHajiManan86000Kluang,Johor

Tel :07-7713857/7713493 07-7724276/7724277

Faks/Fax :07-7720801

BATUPAHAT no.38-1,WismaSuchaSinghJalanRahmat83000BatuPahat,Johor

Tel :07-4325436/4325437Faks/Fax :07-4341170

SEGAMAT TingkatBawah,1,2&3no.120,JalanGenuang85000Segamat,Johor

Tel :07-9317266/9317267Faks/Fax :07-9310615

MUAR TingkatBawah,1,2&3no.9,JalanPetrie84000Muar,Johor

Tel :06-9539288Faks/Fax :06-9538340/9538341

MERSInG Lotno.2,BandarTepianSungaiJalanJemaluang86800Mersing,Johor

Tel :07-7982633Faks/Fax :07-7982644

PERAK IPOH BangunanKWSPJalanGreentown30450Ipoh,Perak

Tel :05-2420000Faks/Fax :05-2430000

TAIPInG TingkatBawahMezzanine&1,Lot820–822JalanBooBee34000Taiping,Perak

Tel :05-8085889/8061724 05-8061722

Faks/Fax :05-8066817

KUALAKAnGSAR no.8B,TingkatBawahJalanRajaChulan33000KualaKangsar,Perak

Tel :05-7767484Faks/Fax :05-7762139



NEGERISTATE

CAWANGANBRANCH

LOKASILOCATION


TELUKInTAn no.1–3G,JalanIntan2BandarBaruTelukIntan36000TelukIntan,Perak

Tel :05-6215600/6225600/ 6223600

Faks/Fax :05-6210500

SRIMAnJUnG no.2262–2264TamanSamudera32040SriManjung,Perak

Tel :05-6883800Faks/Fax :05-6883133

GRIK no.7,TingkatBawahJalanTunBijaDiraja33000Grik,Perak

Tel :05-7913852Faks/Fax :05-7913853

PULAUPInAnG SEBERAnGJAYA TingkatBawah,2,3,4&5BangunanKWSPno.3009,OffLebuhTenggiri2BandarSeberangJaya13700SeberangJaya,PulauPinang

Tel :04-3992000/3998566Faks/Fax :04-3999945

GEORGETOWn MenaraKWSP,no.38JalanSultanAhmadShah10050Georgetown,PulauPinang

Tel :04-2261000Faks/Fax :04-2268900

nIBOnGTEBAL KWSPnibongTebalno.56,TingkatBawahJalanBesar,TamanMerbah14300nibongTebal,PulauPinang

Tel :04-5937622Faks/Fax :04-5943262

BAYAnBARU BlokF-2,LorongBayanBaruIndah1,BayAvenue,SunwayTunas11900BayanLepas,PulauPinang

Tel :04-6442841/2304Faks/Fax :04-6430455

KEDAH ALORSETAR KWSPAlorSetarTingkatBawahMezzanine,8&9BangunanKWSP-Peladangno33,JalanSultanBadlishah05000AlorSetar,Kedah

Tel :04-7332506/7332507 04-7335278

Faks/Fax :04-7311395

LAnGKAWI Lot260,LangkawiMall07000Kuah,Langkawi,Kedah

Tel :04-9671405Faks/Fax :04-9663453

SUnGAIPETAnI TingkatBawah,1&4BangunanWismaKeladiJalanBank08000SungaiPetani,Kedah

Tel :04-4225800/4226800Faks/Fax :04-4224200

KAnGAR BangunanKWSPJalanBukitLagi01000Kangar,Perlis

Tel :04-9761190Faks/Fax :04-9767996

KELAnTAn KOTABHARU BangunanKWSPJalanPadangGarong15000KotaBharu,Kelantan

Tel :09-7445191/7441350Faks/Fax :09-7448806

KUALAKRAI no.96JalanChinHwa18000KualaKrai,Kelantan

Tel :09-9666788/9664731/ 9664733

Faks/Fax :09-9665010

GUAMUSAnG TingkatBawah,PT9401HS(D)3652TamanTitiwangsaBandarBaruGuaMusang18300GuaMusang,Kelantan

Tel :09-9126897Faks/Fax :09-9125628




NEGERISTATE

CAWANGANBRANCH

LOKASILOCATION


TEREnGGAnU KUALATEREnGGAnU

BangunanKWSPJalanKemajuanPadangHiliran21100KualaTerengganuTerengganu

Tel :09-6225862/6225866Faks/Fax :09-6228606

KEMAMAn PT10720&10721TamanCukaiUtamaFasa4JalanKubangKurus24000Kemaman,Terengganu

Tel :09-8592132/8582616Faks/Fax :09-8598435

BESUT LotP.T367TingkatBawahWismaDPMMTJalanPasirAkar,PekanJerteh22000Besut,Terengganu

Tel :09-6903778Faks/Fax :09-6903198

DUnGUn Lotno.84321TingkatBawah,WismaMDDJalanYahyaAhmad23000Dungun,Terengganu

Tel :09-8443269Faks/Fax :09-8443269

PAHAnG KUAnTAn BangunanKWSPBandarInderaMahkotaPersiaranKWSP25200Kuantan,Pahang

Tel :09-5739666/5733294 09-5734750

Faks/Fax :09-5739870

RAUB KWSPCawanganRaubno.79,JalanTunRazak27600Raub,Pahang

Tel :09-3551188/3550762 09-3550760

Faks/Fax :09-3557715

TEMERLOH no.1JalanSudirmanUtama28000Temerloh,Pahang

Tel :09-2962948/2964658 09-2962946

Faks/Fax :09-2964143

JERAnTUT TingkatBawah,no.7JalanInderapura27000Jerantut,Pahang

Tel :09-2667105Faks/Fax :09-2671354

nEGERISEMBILAn

SEREMBAn TingkatBawah,1&2BangunanYayasann.SembilanJalanYamTuan,70000Seremban,negeriSembilan

Tel :06-7663500Faks/Fax :06-7619863

BAHAU no.4,5&6PusatperniagaanKiara72100Bahau,negeriSembilan

Tel :06-4542846/4548020/ 4548266

Faks/Fax :06-4546349

SARAWAK KUCHInG BangunanKWSP,JalanUplandsBegBerkunci208993598Kuching,Sarawak

Tel :082-240331/240332Faks/Fax :082-427899

SIBU Lot25–27,LorongKampungDatu5JalanKampungDatuPetiSurat179796008Sibu,Sarawak

Tel :084-310611/310612Faks/Fax :084-327444

MIRI Lot1255,Blok10MCLDCentrePointJalanMelayu98000Miri,Sarawak

Tel :085-418418Faks/Fax :085-420086



NEGERISTATE

CAWANGANBRANCH

LOKASILOCATION


BInTULU Lot3078,no.6&Lot3079no.7,JalanCourt97000Bintulu,Sarawak

Tel :086-312909/312908Faks/Fax :086-312910

LIMBAnG Lot1565,TingkatBawahJalanBuangsiol98700Limbang,Sarawak

Tel :085-213051Faks/Fax :085-213051

SARIKEI no.16A,TingkatBawahLorong1,JalanTunRazak96100Sarikei,Sarawak

Tel :084-655499Faks/Fax :084-656455

SRIAMAn TingkatBawah,Blok3DaerahBandarSimanggangJalanHospital95000SriAman,Sarawak

Tel :083-325188Faks/Fax :083-325188

SABAH KOTAKInABALU BlokA,BangunanKWSPBegBerkunci201988598KotaKinabalu,Sabah

Tel :088-520100 088-520108

Faks/Fax :088-253348

KEnInGAU RumahKedaiKeningauno.18&19KeningauCommercialCentreOffJalanMasak89000Keningau,Sabah

Tel :087-337820/337821 087-337822

Faks/Fax :087-337825

KUDAT BangunanKWSPLotno.8JalanOKKHjGhani89050Kudat,Sabah

Tel :088-622819/622820/ 088-622824

Faks/Fax :088-622823

LAHADDATU RumahKedaiLahadDatuMDLD3330,Lot65FajarCentre,JalanSegamaPetiSurat6182891126LahadDatu,Sabah

Tel :089-880800/880801 089-880802/880803

Faks/Fax :089-880808

TAWAU TingkatBawah&1BangunanKWSP,TB308Blok35KompleksFajar,JalanLembaga91000Tawau,Sabah

Tel :089-779740/779596 089-776452

Faks/Fax :089-762051

LABUAn TingkatBawah,LotE004FinancialParkLabuanJalanMerdeka,87000Labuan

Tel :087-424963/424815 087-424811

Faks/Fax :087-424816

SAnDAKAn TingkatBawah,1&2,Lot116BandarPasarayaBatu4JalanUtara90009Sandakan,Sabah

Tel :089-234632Faks/Fax :089-211009

BEAUFORT TingkatBawah,Lot1BangunanTabungHajiJalanKampungChina89807Beaufort,Sabah

Tel :087-225985Faks/Fax :087-224642

InSTITUTKWSP InstitutKWSP,PersiaranKWSP43000Kajang,Selangor

Tel :03-89251900/89210200Faks/Fax :03-89259700/89265100

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Laporan Tahunan KWSP 2012

Economy & Finance

Transcript of Laporan Tahunan KWSP 2012