Employees Provident Fund Board Increases Stake in Pavilion Real Estate Investment Trust

Strategic Insights -

The Employees Provident Fund Board, a prominent Malaysian pension fund, has disclosed its increased stake in the Pavilion Real Estate Investment Trust through its nominee company, Citigroup Nominees (Tempatan) Sdn Bhd, on August 6, 2024. The acquisition of 2,101,400 units has brought the fund's total direct interest in the trust to 448,366,303 units, representing a 12.248% stake.

Key Takeaways:

  • The Employees Provident Fund Board has increased its stake in Pavilion Real Estate Investment Trust through the acquisition of 2,101,400 units.
  • The acquisition was completed on August 6, 2024, through the nominee company, Citigroup Nominees (Tempatan) Sdn Bhd.
  • The Employees Provident Fund Board's total direct interest in the trust now stands at 448,366,303 units, representing a 12.248% stake.
  • The breakdown of the registered units shows that 329,535,828 units are registered in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD, 38,948,500 units in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD (AHAM AM), and 13,372,400 units in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD (TEMPLETON).
  • The shareholding structure indicates a complex web of nominee companies, with various subsidiaries and trusts holding significant stakes in the trust.

Statistics:

  • 2,101,400 units were acquired by Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ABERDEEN).
  • The total direct interest held by the Employees Provident Fund Board in the trust is 448,366,303 units.
  • The acquired units represent a 12.248% stake in Pavilion Real Estate Investment Trust.
  • The breakdown of registered units shows that 329,535,828 units are held in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD, 38,948,500 units in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD (AHAM AM), 13,372,400 units in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD (TEMPLETON), and 6,802,400 units in the name of CITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FUND BOARD (ABERDEEN).

Sources:

  • Bursa Malaysia Stock Exchange, via Pavilion Real Estate Investment Trust's website, August 6, 2024, "Changes in Sub. S-hldr's Int (Section 138 of CA 2016)"