Crunch time for PNB

WHEN Tan Sri Zeti Akhtar Aziz stepped in as the chairman of Permodalan Nasional Bhd (PNB) in 2018, she acknowledged that the fund must quickly diversify into overseas investment as it faces declining income.

The local stock market gauged by the performance of the benchmark index FBM KLCI has been shrinking over the past five years, even before the novel coronavirus (Covid-19) crisis took the world by storm.