Business

Wednesday April 8, 2009

PNB hopes to keep growth


,B>It expects 8%-10% increase in fund size

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) sees an 8% to 10% growth in its fund size this year despite the challenging economic landscape, said president and chief executive officer Tan Sri Hamad Kama Piah Che Othman.

“Although sales so far may not have been as good as last year’s, we hope to maintain last year’s growth of having sold over 10 billion units,” he said at an event to launch this year’s national unit trust week or Minggu Saham Amanah Malaysia 2009 (MSAM).

PNB manages over RM80bil in unit trust funds as at the end of February.

PNB may launch new fund products during the MSAM, which will be held in Johor from April 18 to 27, according to Hamad.

Tan Sri Hamad Kama Piah Che Othman (left) with Pelangi Bhd CEO Azmar Talib showing the main prize, a two-storey bungalow for the event.

“Apart from booths set up by unit trust companies, visitors can take part in investment-related activities and attend talks on financial planning,” he said, adding that the event was expected to attract 250,000 visitors this year. Various prizes worth up to RM600,000 have been lined up for visitors at the event.

PNB is also launching a new programme called the Investment Bridging Programme catering for unemployed graduates in the hope of increasing their competency in finance and investment.

Meanwhile, Malayan Banking Bhd head of consumer banking Lim Hong Tat sees growth in the bank’s credit card and auto loan financing business.

“We expect to outpace industry standards in terms of growth for these products,” he said without elaborating.

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