EPF emerges as Eco-Shop's second-largest shareholder
KUALA LUMPUR: The Employees Provident Fund (EPF) has emerged as Eco-Shop Marketing Bhd's second-largest shareholder after lifting its stake in the discount retailer above five per cent.
The Employees Provident Fund (EPF) has become the second-largest shareholder of Eco-Shop Marketing Bhd, surpassing a 5% stake in the discount retailer. EPF currently holds 296.16 million shares, equivalent to 5.14% of the company, following transactions on August 27. EPF acquired 53.32 million shares and disposed of 44.63 million shares, resulting in a net increase of around 8.68 million shares.
EPF's shares are distributed across six accounts, including its primary account and those managed by Amundi, Aberdeen, and RHB Islamic. This emergence of EPF as a significant shareholder comes as analysts remain optimistic about Eco-Shop's growth prospects. AmInvestment Bank Bhd, which initiated coverage of Eco-Shop with a Buy rating and RM1.80 target price, anticipates the company entering a multi-year growth cycle.
They project Eco-Shop's core earnings to grow at a CAGR of about 20% between FY26 and FY29, driven by store expansion, consumers trading down to cheaper alternatives, and higher margins.
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