KWSP had approved and transferred RM8.78 billion to withdrawable Account 3

The Employees Provident Fund (EPF) played a crucial role in supporting the livelihood of the people during 2020-2021 by providing a withdrawal facility amounting to RM61 billion.

In comparison, EPF approved the transfer of RM8.78 billion to Account 3 under the flexible withdrawal option. This highlights a significant effort by EPF to offer financial relief, with the main withdrawal facility being nearly seven times larger than the flexible Account 3 transfers.

But for account 3, it's not just a one time withdrawal while it's a positive cash inflow to the market as compare to EPF previous policy and we strongly believe there will be a positive impact to the stock market especially on consumer goods company.