PNB has helped Malaysia achieve objectives of New Economic Policy

Malaysia's Prime Minister Najib Razak attends an event in Kuala Lumpur, Malaysia March 8, 2017. REUTERS/Alexandra Radu  FOR EDITORIAL USE ONLY. NO RESALES. NO ARCHIVES

TEMERLOH, Apr 20 – Permodalan Nasional Bhd (PNB) is an institution that has helped achieve the objectives of the NEP (New Economic Policy).

This was the description given by Prime Minister Datuk Seri Najib Razak regarding PNB, which was a brainchild of the NEP in 1981.

Najib said PNB is proof that the NEP has achieved its objective set forth by his father and second prime minister Tun Abdul Razak in 1971.

He said the dividends and bonuses given to Malaysian investors through PNB’s various investment products has led to spillover effects in every facet of the country’s economy.

“Through PNB, corporate bodies that used to be under foreign ownership have successfully become owned by our people (Malaysians),” he said.

He noted that this opened everyone’s eyes to the fact that they are capable of conducting a restructuring of Malaysia’s economy.

Najib was speaking at the opening of the first day of the Malaysian Unit Trust Week 2017(MSAM) at Dewan Tun Razak here today.

MSAM, set to run until April 25 with the theme “Pelaburan 360 PNB”, aims to raise public awareness about investment and financial planning via various educational activities.

PNB, the organiser of the event, currently manages around RM266.5 billion in assets, with 216 billion units owned by over 13 million account holders.

MSAM achieved recognition from the Malaysian Book of Records as the Longest Running Unit Trust Exhibition from 2000 until 2014.

Having attracted over 3.3 million visitors since 2000, the present exhibition, held at Dataran Temerloh here, aims to attract 150,000 visitors over its six-day period.

Also present were Najib’s wife Datin Seri Rosmah Mansor, Menteri Besar Datuk Seri Adnan Yaakob, Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob, and Permodalan Nasional Bhd (PNB) chairman Tan Sri Abdul Wahid Omar.


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