PETALING JAYA: The Employees Provident Fund has disposed of 7.15 million shares in Top Glove Corp Bhd, reducing its stake in the world’s largest medical glove maker to 5.63%.
A report in The Edge business weekly said EPF sold the shares in a single tranche on Dec 2.
Following this disposal, the nation’s largest pension fund is now left with 451.65 million shares, the financial daily reported.
The news comes days after The Edge reported that the EPF continued with “its selling spree” in Top Glove after disposing of another 12.83 million shares on Nov 30.
It sold 5.84 million shares on Nov 27 and sold 10 million shares the day before.
The news also comes days after EPF said to rebalance its portfolio, it would look into its liquid assets to cater for withdrawals under the i-Sinar scheme.
EPF recently allowed contributors to make a one-off RM10,000 withdrawal from their EPF Account 1, although there were certain conditions that had to be met.
The fund also said it expects the additional outflow from withdrawals by members affected by the Covid-19 pandemic to have a “minimal impact” on its long-term returns.