Phiem Asset targets 8% growth in AUM

KUALA LUMPUR: Pheim Asset Management Sdn Bhd is targeting to expand its asset under management (AUM) between eight and 12 per cent over the next five years, said founder and executive chairman Dr Tan Chong Koay.

The company's asset under management currently amounted to  about RM1 billion.

He said the company was looking at investments in equity houses, telecommunication and semiconductor sectors in ASEAN and Asia excluding Japan.

"We hope to do better than what we have right now. We are bullish on semiconductor (because) that's the future and we cannot deny it," he told a  press conference after the company's 25th anniversary celebration here on Tuesday. - Bernama