Business Economics

PNB to continue good performance

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Syndicated News
Written by Syndicated News

KUALA LUMPUR — July 4, 2017: Permodalan Nasional Berhad (PNB) is confident its investments in the capital market will continue to achieve good performance this year although the number of new listings is stagnant.

According to Bursa Malaysia’s 2016 annual report, the number of new listings stood at 11 companies, unchanged from the previous year, while funds raised from initial public offerings fell to RM12.8 billion from RM21.2 billion.

PNB Group Chairman Tan Sri Abdul Wahid Omar said that despite this the fund management company was not affected as it focuses on three types of investments, namely strategic, core and portfolio, with 69 per cent of assets under management invested in listed companies.

 Of that figure, 50 per cent was invested in strategic companies, 45 per cent in core companies and 5.0 per cent in portfolio investments.

 “We only focus on companies that have the potential to expand further whereby our holdings is about 10 per cent or RM1 billion in terms of value.

 “As long as these companies increase their investments and are able to give good dividends to investors, we are confident PNB will continue to achieve good performance,” he said at a PNB Hari Raya celebration here today.

The capital market’s value declined to RM1.67 trillion in 2016 from RM1.7 trillion in 2015. — Bernama

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.