KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is looking to exit its positions in legacy investments, allowing it to strengthen other asset classes, including fixed income, said its deputy president and group chief executive officer, Datuk Rick Ramli.
He said the fund management company has already exited investments in major companies such as Unilever and ExxonMobil, with plans to divest further.
"In the 80s and 90s, when you needed a local Malaysian partner, they came to PNB. As a result, we own 30 per cent to 49 per cent stakes in a lot of companies. These are minority stakes, non-controlling and hard to exit.
"Some are a bit trickier, but the logical buyers for these positions are usually the principal who owns the other 51 per cent to 70 per cent,” he said in a panel discussion on "Driving sectoral growth - Real stories of impact and inclusion under the New Industrial Master Plan (NIMP)” at the ASEAN Investment Conference (AIC) 2025.
The AIC 2025 is held in conjunction with the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) and related meetings.
The discussion was led by CGS International Securities Malaysia Sdn Bhd independent non-executive director Tan Sri Shahril Ridza Ridzuan and participated by Khazanah Nasional Bhd chief investment officer Datuk Hisham Hamdan and Kumpulan Wang Persaraan (KWAP) chief investment officer Hazman Hilmi Sallahuddin.
Rick emphasised that PNB is also committed to enhancing corporate Malaysia’s performance, with the goal of making the country more attractive to local and international investors.
He noted that private markets are still fairly nascent in Malaysia, but it is an important part of the value chain to develop and build.
Rick added that PNB had been actively restructuring its portfolio when it divested Malaysian Industrial Development Finance Bhd (MIDF) to Malaysia Building Society Bhd
(MBSB). - Bernama
