To­tal value of strate­gic com­pa­nies rises by RM20b to date

New Straits Times - - Business - ZARINA ZAKARIAH KUALA LUMPUR zari­naz@me­di­

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.

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