STANDOUT PNB PERFORMANCE
Total value of strategic companies rises by RM20b to date
PERMODALAN Nasional Bhd (PNB) has maintained its strong track record after growing its total assets under management (AUM) by 4.6 per cent to RM260 billion last year, from RM254.6 billion in 2015.
“Although the FBM KLCI (FTSE Bursa Malaysia KLCI) declined for the third consecutive year by three per cent and the economy expanded at a slower 4.2 per cent, the pro forma net income of PNB and its funds was sustained at RM15.3 billion,” said PNB group chairman Tan Sri Abdul Wahid Omar during a quarterly performance review, here, yesterday.
PNB, Malaysia’s largest fund management company, said net income of RM15.29 billion last year was 2.9 per cent lower than the previous year’s RM15.75 billion. Return on assets was 5.9 per cent, from 6.4 per cent in 2015.
Wahid said during the year, transformation of PNB strategic companies also gathered steam with a slew of corporate exercises while total value of its strategic companies had risen by RM20 billion to date.
“Since the announcement of our Strive-15 Plan in November last year, our strategic companies, such as Sime Darby Bhd and UMW Holdings Bhd, announced demerger exercises. We hope these could excite the market and support growth of corporate Malaysia,” he added.
Wahid said despite some external risks, the country’s economic outlook remained broadly favourable, reflecting a well-diversified economy and accommodative government policies.
“PNB is projecting real GDP (gross domestic product) growth of 4.4 per cent this year on the back of recovery in exports and oil price, along with sustained domestic demand.
“PNB is also positive on the outlook of the ringgit, given the stronger inflow and stability in bond market.
“These factors could help drive the sentiment for the stock market this year. As at March 24, FBM KLCI closed at 1,745.75 points, 6.3 per cent higher from the start of the year. Other major bourses have also displayed increases in improved fundamentals and sentiments,” he said.
PNB, with more than RM180 billion investments in key Malaysian corporates, announced an income distribution of six sen per unit for Amanah Saham Malaysia (ASM) and 6.5 sen for Amanah Saham Bumiputera 2 (ASB 2).
Its total income distribution payout amounted to RM1 billion and RM384.7 million for ASM and ASB 2, respectively.
Permodalan Nasional Bhd group chairman Tan Sri Abdul Wahid Omar during the quarterly performance review in Kuala Lumpur yesterday.