adtag
RSS | Mobile | Email Alert | Widget | Digital Edition
For latest news » NST Online
Search »
Home | Most Popular | News List | Ebooks | Subscription | Archive | Email Us

PNB to open third global office in Tokyo soon

By Rupinder Singh
Published: 2008/04/05

Email PDF
Email EMAIL
Print PRINT
Currency ConverterCURRENCY CONVERTER
enlarge LARGER TYPE
smaller SMALLER TYPE
Permodalan Nasional Bhd is also on the verge of launching its Real Estate Investment Trusts, says its chairman

PERMODALAN Nasional Bhd (PNB) will soon open its global fund management office in Tokyo, said chairman Tan Sri Ahmad Sarji Abdul Hamid.

The Tokyo branch is the state-run fund manager's third global office after Singapore in 1988 and London in 2006.

PNB's leap into the global arena includes strategic tie-ups with other established international firms, he said, adding that PNB is also on the verge of launching its Real Estate Investment Trusts (REITs).

Ahmad Sarji hoped that new initiatives by PNB will offer greater opportunities to unit holders of the lower income group that invest below 10,000 units.


The lower income group makes up 86.12 per cent or 7.6 million unit holders. PNB's eight funds are held by 8.84 million unit holders or 72 per cent of Malaysia's total unit trust market, he said at PNB's 30th anniversary dinner in Kuala Lumpur last night.

Also present were Prime Minister Datuk Seri Abdullah Ahmad Badawi, Deputy Prime Minister Datuk Seri Najib Abdul Razak, and PNB chief executive officer Tan Sri Hamad Kama Piah Che Othman.

Citing PNB's achievements in its 30-year history, Ahmad Sarji said unit holders now own 76 billion units or 35 per cent of the total unit trust industry.

Total funds under management, meanwhile, have reached RM130 billion or about 14 per cent of the Bursa Malaysia market capitalization.

He said PNB holds equity stakes in 313 companies, of which 256 are listed entities in various strategic sectors such as agriculture, banking, real estate, oil and gas, power, and ports.

Over the course of 30 years, total dividend and bonus PNB has distributed amount to RM60.4 billion, Ahmad Sarji said.



Country
City
» MOST ACCESSED
  1. Malaysian equities on Barings radar screen
  2. Court orders MAHB to stop collecting fees
  3. Is it time to buy into battered Vietnam stocks?
  4. Sabah timber tycoon Lau Gek Poh dies at 92
  5. AirAsia: Fee on checked baggage to offset fuel costs
  6. Far East to tap Malaysian assets
  7. All major US airlines flying in for Routes KL
  8. Bernas surges on talk it will be taken private
  9. Wendy's is in Malaysia, thanks to Berjaya
  10. Tesco to boost house brand

» RELATED STORIES

Six-Day News
M T W T F S

TOOLS
Dictionary »
Thesaurus »






BT GALLERY
NSTP Online News: NSTP e-Media | NST Online | Malay Mail | Berita Harian | Harian Metro |
Mail webheads for site related feedback and questions. Write to the editor or contact sales for other kind of help.
Copyright © The New Straits Times Press (Malaysia) Berhad, Balai Berita 31, Jalan Riong, 59100 Kuala Lumpur, Malaysia.
page counter