AmanahRaya gets Morgan Stanley job

  • Business
  • Saturday, 19 Aug 2006

KUALA LUMPUR: AmanahRaya Bhd has been appointed by Morgan Stanley to manage its equity investment portfolio in Malaysia, says Second Finance Minister Tan Sri Nor Mohamed Yakcop. 

He said the public trustee had prepared a company corporate integrity plan in line with the government’s National Integrity Plan. 

“I believe the initiative will contribute to the excellence of the company in achieving its stated mission,” he said at the launching of Wisma AmanahRaya and the Pewarisan AmanahRaya book by Yang di-Pertuan Agong Tuanku Syed Sirajuddin Tuanku Syed Putra Jamalullail last night. 

Nor Mohamed said AmanahRaya Bhd was established in 1921 and corporatised in 1995. 

“Since it was corporatised, AmanahRaya has expanded to become an organisation involved in estate management, trust administration, asset administration and property management. 

“AmanahRaya has diversified its activities in the capital market. It is trustee to 85 unit trusts with a total value of RM72bil, and trustee for bonds and various financial instruments and investment management,” he said. 

AmanahRaya managing director Datuk Ahmad Rodzi Pawanteh said the public trustee recorded a profit of RM29mil for the first half of this year, surpassing its budget of RM26mil for the whole year. 

“The group targets a 65% increase in its profit to RM55mil this year, largely due to the growth and increase in diversification in business,” he said.  

Earlier in Cyberjaya, Nor Mohamed told reporters after launching the Multimedia Super Corridor’s (MSC) 10th anniversary celebration that the private sector must resume its role as the growth engine for the nation’s economy. 

From left: Yang di-Pertuan Agong Tuanku Syed Sirajuddin Syed Putra Jamalullail,AmanahRaya Berhad chairman Datuk Dusuki Ahmad, Raja Permaisuri Agong Tuanku Faiziah and Tan Sri Nor Mohamed Yakcop waving at a TV camera at the launching of Wisma AmanahRaya last night.

Under the Ninth Malaysia Plan, a key assumption was that the private sector would take the lead, he said. 

“The government will continue to do whatever it can and create a conducive environment for the private sector to assume its role as the engine of growth,” he added. 

Nor Mohamed said private sector investment was expected to grow 11.2% annually over the next five years. 

Meanwhile, he also expected most government-linked companies to meet their respective performance targets, despite the more challenging business environment in recent months. 

On plans for Cyberjaya, Nor Mohamed said the government had put in place a long-term development strategy to ensure the intelligent city remained competitive in terms of attracting new investment.  

He said the government would build more affordable offices in Cyberjaya, as well as other infrastructure such as a dedicated bus system and high-tech citywide security to boost Cyberjaya’s appeal to investors.  

“We are committed to ensuring local MSC-status companies and small and medium enterprises thrive here through the provision of affordable rental, supporting infrastructure and special incentives and developmental programmes,” he said in his speech. 

“We will continue to improve services, including infrastructure, transportation, housing and other amenities to ensure Cyberjaya becomes more accessible and conductive for work as well as leisure,” he added. 

He said the government had so far spent some RM5bil to develop Cyberjaya since it was established in 1996. New allocations would be made under Budget 2007. 

Cyberjaya has to date attracted a number of large foreign companies like Shell, DHL, Motorola, BMW and Dell to set up their global or regional support and outsourcing operations. 

There are a total of 343 MSC-status companies in Cyberjaya, as well as three institutes of higher learning. Today, Cyberjaya has 11,000 residents, while day population peaks at 27,900. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Across The Star Online