Press conference by outgoing minister in the Prime minister department Datuk Seri Abdul Wahid Omar in Putrajaya. MOHD SAHAR MISNI/The Star
LABUAN: Permodalan Nasional Bhd (PNB) is reviewing asset allocation and working on detail mechanism for investment coverage in small- and medium-sized enterprises (SMEs).
Its group chairman, Tan Sri Abdul Wahid Omar, said PNB supported more investment in these companies.
“We welcome the move to increase the investment with with the RM3bil fund allocated by government-linked investment companies as announced in the Budget 2017,” he told reporters at the Labuan International Financial Lecture Series 2016 on Friday.
He said the Small- and Mid-Cap PLC Research Scheme that would be introduced to conduct research on 300 companies would help boost their liquidity.
“This will enable investment houses to invest more into SMEs,” he said.
Wahid said the Government had also taken prudent measures to support businesses and SMEs through its continued commitment in fiscal consolidation.
This is to ensure that credit rating is not affected as the potential of downgrade is always there and if that happens cost of borrowing will go up, he said. - Bernama
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