Press conference by outgoing minister in the Prime minister department Datuk Seri Abdul Wahid Omar in Putrajaya. MOHD SAHAR MISNI/The Star
KUALA LUMPUR: Permodalan Nasional Bhd (PNB) foresees Bursa Malaysia stabilising in 2017 as earnings of Malaysian corporates are set to improve, said group chairman Tan Sri Abdul Wahid Omar.
“Earnings of Malaysian corporates are expected to improve this year and likewise the overall valuation is hopefully better.
“The returns of stocks in the local bourse were challenging in 2016 as it was the third consecutive year to end with negative returns of -3.0%,” he told reporters after AmBank Group’s appointment as an agent to distribute Amanah Saham Nasional Bhd (ASNB) products in Kuala Lumpur on Monday.
On PNB’s overseas investments, Abdul Wahid said, it accounted for just 2% of its total portfolio.
“At the right time, it will increase but the bulk of the investments will still be in Malaysia,” he said.
On Monday AmBank Group became the eighth official agent to distribute products under ASNB, a subsidiary of PNB.
Its group chairman, Tan Sri Azman Hashim, said the bank’s customers and the public could subscribe to ASNB’s fund units at any AmBank branches and its distribution channels.
“This marks our first collaboration with ASNB and we hope to have more collaborations in the future with PNB and ASNB,” he said.
With AmBank Group’s 175 branches, PNB would be extending its reach through over 2,200 ASNB agent branches nationwide. - Bernama
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