PNB to increase investments in private equity

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is looking to increase investments in private equity, said its new group chairman Tan Sri Abdul Wahid Omar.
He said PNB is already investing in many private companies via PNB Equity Resource Corp and some of these companies have been very successful.
"As we move forward, we would like to see other opportunities being created and I think this is something that the management team will have to evaluate further," he told reporters at the announcement of income distribution for Amanah Saham 1Malaysia (AS 1Malaysia) today.
"PNB always makes investments from time to time in capital markets both equity and the debt capital market as well as private equity. For private equity it might be less in the past. In the future we will make new plans to increase investments in private equity," he added.
PNB's wholly-owned subsidiary Amanah Saham Nasional Bhd announced an income distribution of 6.10 sen per unit for AS 1Malaysia for the financial year ending Sept 30, 2016.
The income distribution will involve a total payment of RM700.63 million.