AmInvestment Bank Sees RM1.7 Billion Equity Boost From EPF Contributions
AmInvestment Bank Sees RM1.7 Billion Equity Boost From EPF Contributions
"This could result in net inflows to domestic equities of RM17-23 billion, compared to the past five-year average of RM2 billion between 2018 and 2023," the report stated, assuming annual equity inflows of RM30-40 billion and a maintained domestic equity market share of 57%.
AmInvestment Bank Bhd has estimated that mandatory Employees Provident Fund (EPF) contributions for non-citizen employees could channel up to RM1.7 billion in additional inflows annually into Malaysia's domestic equity market.
AmInvestment Bank Bhd估計，非公民僱員的強制性僱員公積金（EPF）繳款每年可將高達17令吉的額外資金流入馬來西亞的國內股票市場。
The bank's Sector Report notes that the estimate is based on 2.5 million foreign workers, a minimum monthly wage of RM1,700, and combined employee and employer EPF contributions of 11% and 13%, respectively. It assumes 14% of EPF assets would flow into domestic equities, as reflected in the 2023 annual report.
該銀行的行業報告指出，該估計是基於250萬外國工人、1700令吉的最低月工資以及分別爲11％和13％的僱員和僱主公積金總額繳款。它假設14％的公積金資產將流入國內股票，如2023年年度報告所示。
Prime Minister Datuk Seri Anwar Ibrahim has also urged government-linked investment companies to reduce overseas investments and prioritise the domestic market.
總理拿督斯里·安瓦爾·易卜拉欣也敦促與政府相關的投資公司減少海外投資，優先考慮國內市場。
"This could result in net inflows to domestic equities of RM17-23 billion, compared to the past five-year average of RM2 billion between 2018 and 2023," the report stated, assuming annual equity inflows of RM30-40 billion and a maintained domestic equity market share of 57%.
報告指出：「這可能導致國內股票的淨流入量爲170-230令吉，而過去五年在2018年至2023年間的平均水平爲20令吉，」 該報告指出，假設年度股票流入量爲300-400令吉，國內股票市場份額保持在57％。
For non-citizen employees, the proposed EPF contribution rate is 11% for employees and 12-13% for employers, depending on salary levels. Employees with existing contracts will see contributions start at 2%, gradually increasing to match the Malaysian employee rate within six years. The implementation hinges on amendments to the EPF Act 1991.
對於非公民僱員，僱員的擬議公積金繳款率爲11％，僱主爲12-13％，視工資水平而定。持有現有合同的員工的繳款額將從2％開始，並在六年內逐漸增加以匹配馬來西亞僱員的比例。實施取決於1991年《公積金法》的修正案。
AmInvestment highlighted that between 2018 and 2023, the domestic equities market grew at a compound annual growth rate (CAGR) of 1% year-on-year, significantly trailing the fund management industry's 6% growth in assets under management (AUM).
AmInvestment強調，在2018年至2023年之間，國內股票市場以1％的複合年增長率（CAGR）增長，大大落後於基金管理行業管理資產（AUM）6％的增長。
"The lag stemmed from increased investments overseas, with the domestic equities market share dropping 17 percentage points to 57% in that period," the report stated.
報告稱：「滯後源於海外投資的增加，在此期間，國內股票市場份額下降了17個百分點至57％。」
AmInvestment also pointed out that the broader market saw its best annual return in 14 years in 2024, led by technology and plantation sectors amid supply chain realignment and rising crude palm oil prices.
AMInvestment還指出，在供應鏈調整和粗棕櫚油價格上漲的情況下，在科技和種植業的帶動下，整個市場在2024年創下了14年來的最佳年回報率。
"We foresee sustained structural interest in data centres, supporting a positive outlook for the construction and property sectors," it added.
它補充說：「我們預計數據中心將持續出現結構性利益，這將支持建築和房地產行業的樂觀前景。」
譯文內容由第三人軟體翻譯。
