RHB Cap: EPF to reduce stake by mid-2011

  The Employees Provident Fund (EPF) will pare down its stake in RHB Capital Bhd to 40% by mid-2011, said CEO Tan Sri Azlan  Zainol.  “We  have  to  sell  down  to  40%  by middle  of  next  year,”  he  said. He  said  the  state  pension  fund  had  not identified  potential  buyers  for  its  57%  stake  in  the  country’s  fourth-biggest  bank  by  assets. Meanwhile, Azlan  said EPF aimed  to grow  its overseas  investment  to between 10% and 15% next year from only 7% now. “We want to look at bond papers as well as properties,” he said. (StarBiz)