PNB to boost pri­vate equity in­vest­ments

> Con­cept and di­rec­tion will be main­tained un­der the new man­age­ment

The Sun (Malaysia) - - SPEAK UP - BY EVA YEONG

KUALA LUMPUR: Per­modalan Na­sional Bhd (PNB), the largest in­vest­ment man­ager in the coun­try han­dling more than RM255 bil­lion in funds, will see an in­crease of in­vest­ments in pri­vate equity un­der a newly minted man­age­ment.

“PNB al­ways makes in­vest­ments from time to time in cap­i­tal mar­kets, both equity and debt cap­i­tal mar­ket, as well as pri­vate equity. In­vest­ments in pri­vate equity may be less in the past and maybe in the fu­ture we will make new plans to in­crease in­vest­ments in pri­vate equity. How­ever, any in­vest­ments an­nounced be­fore this will con­tinue,” group chair­man Tan Sri Ab­dul Wahid Omar told re­porters at a brief­ing yes­ter­day, adding that PNB’s con­cept and di­rec­tion will be main­tained un­der the new man­age­ment.

He said PNB, via its en­tity PNB Equity Re­source Corp, is al­ready in­vested in many pri­vate com­pa­nies and some of these com­pa­nies have been very suc­cess­ful, in­clud­ing Pero­dua.

“We would like to see other op­por­tu­ni­ties be­ing cre­ated and I think this is some­thing which the man­age­ment team would have to eval­u­ate fur­ther,” he added.

How­ever, it has not tar­geted any spe­cific com­pa­nies or seg­ments yet.

Com­ment­ing on the changes in PNB’s man­age­ment, Ab­dul Wahid said PNB’s con­cept will be main­tained de­spite the many chal­lenges that the new team ex­pects to face and hopes to im­prove PNB’s per­for­mance.

Ab­dul Wahid joined PNB as chair­man on Aug 1, 2016, re­plac­ing Tun Ah­mad Sarji Ab­dul Hamid. PNB will also have a new pres­i­dent and group CEO in Datuk Ab­dul Rah­man Ah­mad ef­fec­tive Oct 1, 2016, re­plac­ing Tan Sri Ha­mad Kama Piah who is re­tir­ing.

Yes­ter­day, PNB’s wholly-owned sub­sidiary Amanah Sa­ham Na­sional Bhd (ASNB) an­nounced an in­come dis­tri­bu­tion of 6.10 sen per unit for Amanah Sa­ham 1Malaysia (AS 1Malaysia) for the fi­nan­cial year end­ing Sept 30, 2016 (FY16). The in­come dis­tri­bu­tion will in­volve a to­tal pay­ment of RM700.63 mil­lion to more than 393,000 unit hold­ers who sub­scribed to 11.486 bil­lion units of AS 1Malaysia.

Ab­dul Wahid said the fund’s per­for­mance for FY16 was af­fected by un­cer­tain mar­ket con­di­tions. The in­come dis­tri­bu­tion for the fund was 6.40 sen per unit last year.

“Dur­ing FY16, the FBM KLCI gained 3.1% up to Sept 23, from 1,621.04 points on Sept 30, 2015, to 1,670.99 points. How­ever, the FBM KLCI’s av­er­age daily trade for FY16 was lower than FY15, record­ing a 5% drop from 2015’s av­er­age of 1,757.12 points to 1,668.39 points this year,” he said.

Up till Sept 23, 2016, AS 1Malaysia recorded a gross in­come of RM777.63 mil­lion. Profit from the sale of shares con­trib­uted RM344.87 mil­lion or 44.4% while div­i­dend in­come from in­vestee com­pa­nies con­trib­uted RM321.27 mil­lion or 41.3% from the gross in­come. The re­main­ing RM111.49 mil­lion or 14.3% is de­rived from in­vest­ments in short term in­stru­ments and other in­come.

The in­come dis­tri­bu­tion will be rein­vested in ad­di­tional units and will be au­to­mat­i­cally cred­ited into unit hold­ers’ ac­counts on Oct 1.

Ab­dul Wahid

Ha­mad Kama Piah

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.