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- The sale reduced EPF’s shareholding in the property developer to 4.29% from 6.11% previously.
KUALA LUMPUR (Oct 8): The Employees Provident Fund (EPF) has ceased to be a substantial shareholder of IOI Properties Group Bhd (KL:IOIPG) after almost nine years, as it trimmed its stake in the counter which had risen to a one-month high in a rally.
The pension fund, which emerged as a substantial shareholder of IOI Properties in January 2017, disposed of 100 million shares or a 1.82% stake on Oct 3, according to the group's filing with Bursa Malaysia on Wednesday (Oct 8).
The sale reduced EPF’s shareholding in the property developer to 4.29% from 6.11% previously.
IOI Properties' largest shareholder is Vertical Capacity Sdn Bhd—controlled by the family of IOI Corp chairman Tan Sri Lee Shin Cheng—with a 65.67% stake.
The share price closed at RM2.18 on Oct 3, its highest in a month, valuing the block sold by EPF at about RM218 million.
The stock slipped one sen or 0.47% to RM2.14 on Wednesday, giving the group a market capitalisation of RM11.78 billion. Still, the counter has gained over 26% from its low of RM1.69 in early April.
In August, IOI Properties confirmed plans to establish a real estate investment trust (REIT) to be listed on Bursa Malaysia’s Main Market. To facilitate the exercise, it incorporated IOIPG REIT Management Sdn Bhd, a wholly-owned subsidiary, as the management company for the REIT.
For the fourth quarter ended June 30, 2025, IOI Properties’ underlying profit before tax—a measure of its core operating profitability—surged to RM214.1 million from RM87.3 million a year earlier. The strong improvement was driven by higher contributions from its property development business and strategic expansion into the hospitality and leisure segment. Revenue climbed 13.7% to RM890.21 million from RM782.61 million.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
