PM reminds PNB not to be complacent in fulfilling its responsibility towards investors

SUNGAI PETANI, April 21 (Bernama) — Tun Dr Mahathir Mohamad has reminded the leadership and management of Permodalan Nasional Bhd (PNB) not to be complacent in fulfilling its responsibility and obligation in pursuing the hopes and aspirations of its investors.

The Prime Minister said the responsibility shouldered by PNB is very heavy as investors are always after good returns on investment to improve their quality of life.

He said the abuse of power in governance, deterioration of integrity, fraudulent practices and corruption, as well as leakages that had been occurring in other investment institutions should be avoided in PNB.

“(If they were to happen) Eventually, the government will have to intervene, but this is not the solution as the tarnished image is not easy to repair and the confidence of the people, especially investors, is not easy to restore,” he said in a special video recording aired at the launch of the Minggu Saham Amanah Malaysia (MSAM) 2019 here today.

He said if irregularities were to occur in PNB, the dignity of Bumiputera will also be marred forever because the role of PNB is not just confined to economic interest but also social interest.

“PNB has carried out many corporate social responsibility activities that have given a high impact to the society, including through education-oriented programmes like providing scholarships, apart from extending welfare aid and other contributions that have benefited various levels of the society significantly,” he said

Dr Mahathir said the achievements were a manifestation of PNB’s professionalism in mobilising the people‚Äôs investments and trust in the fund management company.

“This would not have been possible if PNB does not shoulder its responsibility with integrity and trust,” he said.

The Prime Minister said PNB managed to accumulate and expand its assets to reach RM298.5 billion with a total of 13.8 million account holders and total assets under management worth RM236.6 billion.

He also called on all levels of the society to take the opportunity to visit the MSAM to gain exposure on how to manage their finances and investments wisely, as well as to embrace technology in financial matters.

Since the first edition of the MSAM 20 years ago, he said the event had received over 3.8 million visitors cumulatively, including communities from urban and rural areas.

— BERNAMA

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