ZETI AIMS TO MAINTAIN PNB’S PERFORMANCE
Pledges to work closely with government-linked investment companies
NEWLY-appointed Permodalan Nasional Bhd (PNB) chairman Tan Sri Dr Zeti Akhtar Aziz aims to work closely with government-linked investment companies (GLICs) to maintain the fund’s performance and contribution to the overall economy.
“I am very pleased with this appointment and will work together to maintain the sustainability of PNB’s performance. I had the first meeting with PNB staff this (yesterday) evening and that is all I can say right now,” she said after attending the Council of Eminent Persons meeting.
Her appointment follows the retirement of Tan Sri Abdul Wahid Omar.
Asked about Wahid’s strategic direction plan to improve PNB’s operations, Zeti said she was not been able to comment on the matter yet.
“I need to know the details before commenting on it,” she said.
Meanwhile, Zeti said she would continue as a member of the Council of Eminent Persons to help the government fulfil its 100-day promise.
“I will continue to take the responsibility as it is almost 50 days now (of the 100-day promise), and there is still much work to be done,” she said.
During Wahid’s term as chairman, PNB published its first annual report in a long time. The disclosure was important as details and information in the running of PNB were previously shrouded in mystery.
Wahid and PNB group chief executive Datuk Abdul Rahman Ahmad also set out a road map that would internationalise PNB’s operations.
He had set a roadmap for PNB to achieve three broad mandate deliverables, which were delivering enhanced sustainable returns for its portfolio, increasing Bumiputera economic wealth and participation, and using part of its gains for socially impactful initiatives, said PNB on Friday.
PNB is Malaysia’s largest fund management company with asset under management reaching RM280 billion.
The fund, which was set up in 1978, is among the six government-linked investment companies that control hundreds of public and private listed companies in Malaysia.