Permodalan Nasional Bhd’s (PNB) strategic plan 2017-2022 has started to give positive results after six months of implementation with its strategic investment companies’ market capitalisation up by about RM25 billion.
Its chairman Tan Sri Abdul Wahid Omar said the plan, which was presented in November last year, has set a target for PNB to be a distinctive investment company.
“Under the plan, 15 initiatives will be carried out and some of the initiatives have already been implemented and one of the strategic pillars, a sustainable investment, which outlined five initiatives, has received a positive response from the market,” he said at the breaking of fast with media representatives recently.
Abdul Wahid said the group is currently managing investments totalling RM266 billion, of which 98% were invested locally and the rest overseas.
He said of the RM266 billion fund, 69% were invested in the listed companies on Bursa Malaysia Bhd.
Among the strategic companies are Malayan Banking Bhd (Maybank), Sime Darby Bhd, MNRB Holdings Bhd, Chemical Co of Malaysia Bhd, SP Setia Bhd and UMW Holdings Bhd.
He said Maybank recently became the first Malaysian-listed company to achieve RM100 billion market value and this would give impetus for the company to do better.
Besides that, PNB also invested in companies which it categorised as core companies involving investment of less than 10%, or RM1 billion of the market value, like Axiata Group Bhd, MMC Corp Bhd, Malaysia Airports Holdings Bhd, Telekom Malaysia Bhd, Tenaga Nasional Bhd and more.
On the political development in the UK, Abdul Wahid said PNB’s investment there is only about 2%, and in its move to diversify its investment overseas, PNB will make sure that its investments would not have an impact on its total portfolio as it was well spread.
As for Felda Global Venture Bhd, he said the company is not one of PNB’s core company and the current market development, which has affected Its market value, has minimal impact on PNB investments.
He said with its new management, PNB is also set to present its quarterly report to investors on its current economic developments and its investments performance. — Bernama