KUALA LUMPUR (June 15): Recently the Employee Provident Fund (EPF) has voted against the proposed share buyback schemes in seven companies, all of which declared lower dividends in 2022. They are Mr DIY Group (M) Bhd, Malakoff Corp Bhd, CTOS Digital Bhd, Genting Plantations Bhd, Pentamaster Corp Bhd, IHH Healthcare Bhd and Tan Chong Motor Holdings Bhd. The pension fund is going to vote against Sunway Construction Group Bhd's share buyback resolution at its upcoming AGM on June 19. The EPF reveals on its website that the rationale for opposing these companies' proposed share buyback schemes is that spare cash should be utilised for higher dividends to reward shareholders or for business expansion for better growth.

http://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-06-15-story-h-267814887-EPF_Prefers_Dividends_or_Business_Expansion_to_Share_Buyback

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