In 4 decades, its AUM have expanded from RM500m to RM291.4b as at end-September 2018
By AFIQ AZIZ / Pic By MUHD AMIN NAHARUL
Permodalan Nasional Bhd (PNB) is on the right track and has addressed all the tasks that it has been been entrusted with, in line with the New Economic Policy (NEP), within 40 years of its inception.
Its president/group CEO Datuk Abdul Rahman Ahmad said the state-owned fund manager has enabled a significant number of people in the country, especially Bumiputera, to be equity holders.
“PNB was established based on two main objectives, namely to mobilise savings and to collectively own equity stakes in Malaysians companies. In both aspects, particularly the latter, we have been successful (in addressing the NEP).
“If we remember the PNB’s history, incidents such as the Dawn Raid (1981), PNB was the main instrument when we effectively took over the ownership of equity in what used to be an old British company that was later being Malaysianised,” he told reporters after unveiling PNB’s first comprehensive corporate biography entitled “In Trust: A History of PNB” in Kuala Lumpur yesterday.
On Sept 7, 1981, the control of British rubber and oil palm conglomerate in Malaysia, Guthrie Corp Ltd, was taken over by PNB in less than four hours.
Abdul Rahman said since then, the fund’s success, via schemes that were offered in equity ownership especially for the Bumiputera, has been generally expanded and sustained.
“If you study the Economic Planning Unit data, what has really driven the growth in Bumiputera shareholdings is the institutionalised equity ownership and a large portion of that is through PNB,” he said.
PNB group chairman Tan Sri Dr Zeti Akhtar Aziz said data published in the report also proved PNB’s achievement is part of the NEP journey.
“The amount of dividends that have been generated for the unitholders and it has been sustained over even the difficult and challenging economic and financial environment. So, that is the positive factor.”
She said the fund has also contributed to the overall economy through strategic investment in various corporations.
Zeti said in four decades, PNB’s assets under management (AUM) have expanded from a total of RM500 million to RM291.4 billion as at the end of September 2018.
PNB’s unit in circulation has reached RM233.4 billion from 13.6 million account holders.
“In terms of performance, in 2018 alone, RM4.3 billion of dividends from the nine funds have been disbursed to the unitholders, while a total of RM176.4 billion has been disbursed since our inception,” Zeti added.