KUALA LUMPUR (May 22): CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak said he had decided to leave Malaysia's Employees Provident Fund (EPF) investment panel when his tenure ends on May 31 this year.

Nazir said via Instagram that he had decided not to have his EPF investment panel membership renewed.

"After (a record) 15 years as EPF panel member, I have decided not to be considered for renewal at the end of my tenure this month. It's been such a huge honour and privilege to serve since 2002 and witness the EPF's assets grow from RM200 billion to over RM750 billion today, pay consistently good dividends, and diversify from pure Malaysian investments to almost 30% in the rest of the world.

"The EPF is a world-class pension fund and great Malaysian success story. So long at it continues to be led with integrity by a strong leadership team and follows its established institutional processes, the EPF will continue to grow from strength to strength. My gratitude to everyone who served on the panel with me and all the EPF's staff who had to put up with my questions!" Nazir said.