Clarification

WITH regard to a StarBiz report entitled PNB’s next plan for Maybank on Aug 16, Permodalan Nasional Bhd wishes to clarify that there will not be a “separate syariah-compliant vehicle” or a “separate entity to be traded as i-Maybank”.

PNB said the proposed idea is to designate 20% of Maybank shares as Islamic shares, the income of which would be generated from the company’s existing syariah-compliant activities.