Methodology and scope

Last updated 11 August 2026

What the data is

Under the Companies Act 2016, a substantial shareholder must disclose changes in its interest. EPF files these notices for the companies where it holds a substantial position. Those filings are public on Bursa under each company's announcements.

What the data is not

These are substantial-shareholding disclosures. They generally apply at or above 5 percent, and to changes made while a person is a substantial shareholder. They do not show every EPF position, and they do not show every EPF trade. Anyone describing this data as market-wide fund flow is overstating it, including us in our first three editions, which we have corrected.

How each number is produced

• For each company, we sum every disclosed acquisition and disposal announced within the window.
• We use the sum of transactions, not the difference between the first and last holding. The difference method is sensitive to which filing you start from and understates or overstates the result. The transaction sum is exact.
• Because we count actual trades, changes in the share base such as a subdivision do not distort the total.
• Percentages are the holdings stated in the filings themselves.
• Ringgit values are approximate equivalents at a stated price date. They are not the amounts paid or received.

Windows and comparability

Editions 1 and 2 covered fortnights while we caught up on July. From edition 3 the window is one week. A one-week total is naturally smaller than a fortnight's and that is not a fall in activity. Every edition states its window.

When a filing cannot be read

Bursa's disclosure pages occasionally return an error. When that happens we mark the company as unavailable and exclude it from every derived claim. We never record an unread filing as zero. Each edition states how many companies parsed completely and how many did not.

Timing

Filings are announced after the trade, commonly by one to several days. A window is defined by announcement dates, not trade dates. This is why we avoid saying what EPF did "this week" in the present tense.

What we deliberately do not do

• We do not infer intent. The filings show what was traded, not why.
• We do not publish price targets, ratings, model portfolios or conviction scores.
• We do not compute a single composite number to summarise a company.