KUALA LUMPUR: Permodalan Nasional Bhd's (PNB) managed assets of RM279 billion is proof that claims of Malaysia going bankrupt is fake news and a testament of the success of the New Economic Policy (NEP).
Prime Minister Datuk Seri Najib Razak said the fund management company's success was a reflection of the success of NEP to distribute wealth in a fairer and more just manner.
“PNB's success is the success of government policy to ensure (wealth distribution) in society that is more fair and equal. This would lead to a stronger society.
“A dimension of unity is when every member of society has ownership (in the economic pie) that is fair and equal, where nobody is left out, disenfranchised, or marginalised.
“This we have achieved in Malaysia today, where Bumiputera corporate involvement is over 23 per cent,” said Najib, who is also Finance Minister.
Najib said this at PNB’s 40th anniversary celebration at Menara PNB, Jalan Tun Razak.
Also present were Second Finance Minister Datuk Seri Johari Abdul Ghani, PNB president Datuk Abdul Rahman and its group chairman Tan Sri Abdul Wahid Omar, among others.
Najib pointed out that the government was always striving to expand the (economic) “cake” so that every member of society can equally partake in it.
"PNB's asset management has reached RM279 billion, which is a very large amount. PNB has not only never failed to pay dividends but the dividends are good.
“(Last year), RM14.38 billion in dividends and bonuses were paid out (by PNB)," said Najib, which attracted applause from an audience of over 1,000 PNB staff here.
“Since 1981, PNB has paid out over RM171 billion in dividends and bonuses. PNB has succeeded in improving the socio-economic status of society, especially among the Bumiputera.”
Najib also commended PNB's Strategic Plan 2017-2022, introduced in 2016 and known as STRIVE-15, that seeks to transform it into a world class investment company with targeted asset management of RM350 billion.
He noted that PNB's success was also seen in the distribution of 100 sen per Amanah Saham Bumiputera (ASB) unit and with the first 1,000 units being distributed to investors recently, among others.
"I first launched ASB2 (Amanah Saham Bumiputera 2) in 2015 with a RM10 billion size, now it has been fully subscribed," he said.
Najib drew further applause from the audience when he announced that PNB would make a one-off RM2,000 payment to each PNB employee in May.
PNB is the largest fund management company in Malaysia, with its portfolio covering strategic investments in the country's leading corporations, global equities, private investment and real estate.