AmInvestment Bank Bhd projects that mandatory Employees Provident Fund (EPF) contributions for non-citizen employees could channel up to RM1.7 billion in additional annual inflows into Malaysia’s domestic equity market. According to its sector report, the estimate is based on the presence of 2.
5 million foreign workers, a minimum monthly wage of RM1,700, combined employee and employer EPF contributions of 11 per cent and 13 per cent, respectively, and the assumption that 14 per cent of EPF assets would flow into domestic equities, as indicated in the latest 2023 annual report. The report states that the proposed EPF contribution rate for non-citizen employees with a new contract of employment is 11 per cent for employees and 12-13 per cent for employers, depending on salary compensation. For employees with an existing contract of employment, the contribution rate is proposed to start at two per cent, increasing in phases until it is on par with the contribution rate of Malaysian employees within six years.Additionally, Prime Minister Datuk Seri Anwar Ibrahim has called for government-linked investment companies to reduce overseas investments and focus more on the domestic market, further helping the cause.to domestic equities of RM17-23 billion, compared to the past five-year average of RM2 billion (between 2018 and 2023). 'This assumes annual inflows to equities of RM30-40 billion (based on historical trends) and that the domestic equity market share is maintained at 57 per cent (2023 levels),” it said. AmInvestment noted that the domestic equities market grew at a compound annual growth rate (CAGR) of one per cent year-on-year (y-o-y) between 2018 and 2023, significantly lagging the fund management industry’s six per cent y-o-y growth in assets under management (AUM).equities market fell by 17 percentage points to 57 per cent, between 2018 and 2023,” it sai
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