By Sharen Kaur
sharen@mediaprima.com.my
Published in NST on April 24, 2013
PERMODALAN Nasional Bhd (PNB) may consider a second development as massive as the RM40 billion Battersea Power Station project in London after weighing all the risks and investment options.
PNB, one of the country's largest fund managers, has an indirect 80 per cent interest in the project through its 36.62 per cent stake in Sime Darby Bhd and 51.63 per cent in SP Setia Bhd.
Sime Darby, SP Setia and the Employees Provident Fund form the consortium that bought the old Battersea Power Station for RM1.99 billion in September last year.
The 15.8ha site overlooks London's River Thames and is only around 2km away from the House of Parliament.
"We are always looking at value propositions. If a project of that
scale can bring good yields to PNB, it would be part of our target,"
said PNB president and group chief executive Tan Sri Hamad Kama Piah Che
Othman.
"SP Setia and Sime Darby did their homework and found that this project would give them better returns. Phase 1 of the project has sold quite significantly," he said at the Malaysia Unit Trust Week, which is being held here until Saturday.
"For PNB, this is a positive development as it would churn out good returns and we can pay nice dividends,"
Phase 1 of the project offered 800 apartment units priced at around STG1,000 (RM4,650) per square feet, or from STG338,000 to STG894,000 each. More than half of the units have been sold since January.
Meanwhile, Hamad Kama Piah said PNB is planning a new format for Minggu Saham Amanah Malaysia (MSAM), which will start next year.
MSAM is an annual event organised by PNB since 1999. Perlis is the final stop under the first series.
He said MSAM's objective is to ensure that the public make prudent investment decisions and not get caught in get-rich-quick scams.
"They must understand the risk and returns. The best fundamentals for people to invest in PNB unit trusts funds are low initial payment, easy access, good track record, no penalty for earnings withdrawal, and higher dividend payout.
"Dividend payout by PNB is increasing every year. Last year, we paid RM11.3 billion and the year before that, it was around RM10 billion.
"The six per cent to seven per cent returns we offer are considered very high compared with other types of savings," Hamad Kama Piah added.
sharen@mediaprima.com.my
Published in NST on April 24, 2013
PERMODALAN Nasional Bhd (PNB) may consider a second development as massive as the RM40 billion Battersea Power Station project in London after weighing all the risks and investment options.
PNB, one of the country's largest fund managers, has an indirect 80 per cent interest in the project through its 36.62 per cent stake in Sime Darby Bhd and 51.63 per cent in SP Setia Bhd.
Sime Darby, SP Setia and the Employees Provident Fund form the consortium that bought the old Battersea Power Station for RM1.99 billion in September last year.
The 15.8ha site overlooks London's River Thames and is only around 2km away from the House of Parliament.
"SP Setia and Sime Darby did their homework and found that this project would give them better returns. Phase 1 of the project has sold quite significantly," he said at the Malaysia Unit Trust Week, which is being held here until Saturday.
"For PNB, this is a positive development as it would churn out good returns and we can pay nice dividends,"
Phase 1 of the project offered 800 apartment units priced at around STG1,000 (RM4,650) per square feet, or from STG338,000 to STG894,000 each. More than half of the units have been sold since January.
Meanwhile, Hamad Kama Piah said PNB is planning a new format for Minggu Saham Amanah Malaysia (MSAM), which will start next year.
MSAM is an annual event organised by PNB since 1999. Perlis is the final stop under the first series.
He said MSAM's objective is to ensure that the public make prudent investment decisions and not get caught in get-rich-quick scams.
"They must understand the risk and returns. The best fundamentals for people to invest in PNB unit trusts funds are low initial payment, easy access, good track record, no penalty for earnings withdrawal, and higher dividend payout.
"Dividend payout by PNB is increasing every year. Last year, we paid RM11.3 billion and the year before that, it was around RM10 billion.
"The six per cent to seven per cent returns we offer are considered very high compared with other types of savings," Hamad Kama Piah added.
No comments:
Post a Comment