By Sharen Kaur
sharen@mediaprima.com.my
Published in NST on April 30, 2013
The fund manager has a 36.62 per cent stake in Sime Darby, one of the world's biggest oil palm planters.
PNB has four non-core assets left to divest, including those parked under Sime Darby.
Other non-core assets that PNB is looking to divest include U-Insurance Sdn Bhd, the insurance arm of UMW Holdings Bhd.
Hamad Kama Piah said PNB is looking at a few offers for the remaining three non-core assets and that announcements will be made between May and July.
Just a week ago, Hamad Kama Piah said PNB has yet to find the right suitors to buy any of the four non-core assets.
Hamad Kama Piah had said the price offered by interested buyers did not meet PNB's target.
Meanwhile, he said the 14th MSAM here has exceeded expectations in terms of number of visitors and new account holders for unit trusts.
Some 240,000 visitors attended the event in the first eight days. Last year's event in Kota Kinabalu drew 250,000 visitors.
Since its inception in April 1999, MSAM has enabled PNB to grow its unit trust size to 164.1 billion units as at February 2013 from 29.3 billion.
Its number of unitholders swelled to 11.2 million in 2012 from 7.6 million in 1999. PNB also paid out RM11.3 billion in income distribution in 2012 from RM3.5 billion in 2000.
Companies under PNB that participated in the event included UMW, Sime Darby, Projek Lintasan Kota Holdings, Island & Peninsular, Chemical Co of Malaysia, NCB Holdings, Takaful Ikhlas, Malaysian Industrial Finance and Malayan Banking Bhd.
sharen@mediaprima.com.my
Published in NST on April 30, 2013
The fund manager has a 36.62 per cent stake in Sime Darby, one of the world's biggest oil palm planters.
PERMODALAN Nasional Bhd (PNB) has found a suitor to buy the non-core assets of Sime Darby Bhd, said its president and chief executive officer Hamad Kama Piah Che Othman.
He told Business Times after the closing of the Malaysia Unit Trust Week (MSAM) here on Saturday that an announcement will be made soon.
Last year, Prime Minister Datuk Seri Najib Razak had asked PNB and Khazanah Nasional Bhd to divest their stakes in non-core companies, such as FEC Cables, to Bumiputera companies via an open tender.
This is part of the government's plan to reduce its role in business and allow greater participation by the private sector.
He told Business Times after the closing of the Malaysia Unit Trust Week (MSAM) here on Saturday that an announcement will be made soon.
Last year, Prime Minister Datuk Seri Najib Razak had asked PNB and Khazanah Nasional Bhd to divest their stakes in non-core companies, such as FEC Cables, to Bumiputera companies via an open tender.
This is part of the government's plan to reduce its role in business and allow greater participation by the private sector.
PNB has four non-core assets left to divest, including those parked under Sime Darby.
Other non-core assets that PNB is looking to divest include U-Insurance Sdn Bhd, the insurance arm of UMW Holdings Bhd.
Hamad Kama Piah said PNB is looking at a few offers for the remaining three non-core assets and that announcements will be made between May and July.
Just a week ago, Hamad Kama Piah said PNB has yet to find the right suitors to buy any of the four non-core assets.
Hamad Kama Piah had said the price offered by interested buyers did not meet PNB's target.
Meanwhile, he said the 14th MSAM here has exceeded expectations in terms of number of visitors and new account holders for unit trusts.
Some 240,000 visitors attended the event in the first eight days. Last year's event in Kota Kinabalu drew 250,000 visitors.
Since its inception in April 1999, MSAM has enabled PNB to grow its unit trust size to 164.1 billion units as at February 2013 from 29.3 billion.
Its number of unitholders swelled to 11.2 million in 2012 from 7.6 million in 1999. PNB also paid out RM11.3 billion in income distribution in 2012 from RM3.5 billion in 2000.
Companies under PNB that participated in the event included UMW, Sime Darby, Projek Lintasan Kota Holdings, Island & Peninsular, Chemical Co of Malaysia, NCB Holdings, Takaful Ikhlas, Malaysian Industrial Finance and Malayan Banking Bhd.
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