PM Anwar Wants Bumiputera Firms To Match Management Integrity Of PNB, Petronas

SHAH ALAM, Aug 22 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim today called on Bumiputera companies to emulate Permodalan Nasional Berhad (PNB) and Petroliam Nasional Bhd (Petronas) in consistently upholding integrity in company management.

He said PNB and Petronas do not rely on their authority, name and status as Bumiputera entities to generate profit but do so through transparency, accountability and high integrity in their management at all times.

"Managing a financial institution with over 12.5 million unit holders is no easy task, and this success is due to the efforts, sweat and hard work of those at PNB who have maintained integrity since its establishment.

"Thus, the success of PNB and Petronas is something we can be proud of because they continue to uphold high integrity without using the Bumiputera name to succeed,” he said.

He said this when officiating the 'Minggu Saham Amanah Malaysia (MSAM) 2024' event, which was also attended by Selangor Menteri Besar Datuk Seri Amirudin Shari and PNB Group Chairman Raja Tan Sri Arshad Raja Tun Uda.

Anwar, who is also Finance Minister, expressed confidence that with high integrity practices, PNB is on the right track to strengthen the financial position of the people.

The Prime Minister noted that transparent and principled financial management by PNB led to an increase in the distribution of Amanah Saham Bumiputera (ASB) income last year, rising to 5.25 sen per unit compared to 4.50 sen per unit in 2022.

He added that the dividend for Amanah Saham Malaysia (ASM) for the financial year ending March 31, 2024, had increased to 4.75 sen per unit from 4.50 sen per unit in the previous year.

“That’s why we are confident that if managed well and with a focus on the value of every sen of contributors' money, they will not be dazzled by the allure and grandeur of power but will continue to manage the people's investments transparently, responsibly and with integrity,” he said.

Anwar underscored that PNB has been given the mandate by the government to support the initiative to Modernise Malaysia's Industry under the Government-Linked Companies (GEAR-uP) programme, inspired by the MADANI Economic agenda in line with the New Industrial Master Plan 2030 (NIMP 2030).

The Prime Minister also appreciated the significant role of PNB Group in contributing to the Gross Domestic Product (GDP) and driving the economy towards sustainable development.

This includes involvement in the development of the Kerian Integrated Green Industrial Park (KIGIP) in Perak, which focuses on using green technology for energy generation.

“When PNB leads the green technology initiative and high-tech industrial areas in Kerian, I consider it a good start, indirectly recognising PNB Group’s potential as an economic growth catalyst in this country,” he said.

At the same event, the Prime Minister launched the 'Celik MADANI: Celik Kewangan Belia MADANI' initiative, a PNB programme aimed at ensuring that students and youth in Malaysia plan their finances from a young age, and to help strengthen their finances to continue investing until graduation.

For this initiative, Anwar wants 200,000 students nationwide to register each year and hopes Amanah Saham Nasional Berhad (ASNB) will collaborate with universities and corporate sponsors to register students as investors and continuously run financial literacy activities.

The 'Celik MADANI: Celik Kewangan Belia MADANI' initiative targets registering one million students from public higher education institutions (IPTA) and new vocational education institutions, providing an initial investment value of RM50 per student.

This initiative is the result of joint contributions from the Malaysian government, PNB, and corporate companies, with a total contribution value of RM50 million.

-- BERNAMA