Company Overview of Permodalan Nasional Berhad
Permodalan Nasional Berhad is based in Kuala Lumpur, Malaysia. It is the current investment arm of Yayasan Pelaburan Bumiputra.
Level 4, Menara PNB
201-A, Jalan Tun Razak
Kuala Lumpur, 50400
Key Executives for Permodalan Nasional Berhad
President and Group Chief Executive
Group Chief Operating Officer and Deputy President
Compensation as of Fiscal Year 2014.
Permodalan Nasional Berhad Key Developments
Sime Darby's Property Arm Reported Mooted To Takeover S P Setia
Jan 12 15
A high level initiative has began for a proposal for the property arm of Sime Darby Berhad (KLSE:SIME) to take over S P Setia Berhad (KLSE:SPSETIA). About two months ago by a few senior management of S P Setia mooted the proposal and conveyed to the top brass of Permodalan Nasional Berhad (PNB) and Sime Darby. A source stated: “So far, there has been no resistance to the proposal. It is not something out of the blue as this was talked about by the dominant shareholder. This time it is coming from the key people in S P Setia. They see a need for a strong leadership in S P Setia for the greater benefit of shareholders.” PNB plans to merge all its property companies under its stable and list it. However the plan had not taken off yet although there were consultants who had worked on it quite substantially, a source said. A banker stated: “But S P setia is not part of the plan. Any corporate exercise between the two companies would need shareholders approval.” Another source said: “If PNB does decide to amalgamate all its property assets, it must find a vehicle. This should not be an issue at all. S P Setia seems to have “a better branding” than the other property companies in PNB’s stable. The most pressing problem in S P Setia is not land or sales. It is management execution and PNB’s perceived inertia.”
Permodalan Nasional Announces Executive Appointments
Dec 22 14
Permodalan Nasional Bhd has appointed Datuk Idris Kechot as Deputy President and Group Chief Operating Officer to oversee the asset management department. It also appointed Datuk Wan Roshdi Wan Musa as Chief Risk Officer. Both appointments are effective on Dec. 1, 2014.
Permodalan Nasional Berhad Extends Deadline for Main Contract
Nov 26 14
Permodalan Nasional Berhad announced that it has extended the deadline for the award of the main contracts of the MYR 5 billion Menara Warisan Merdeka project to the second quarter of next year. The mandatory conditions that must be met by the contractors include having successfully completed contract works of at least MYR 5 billion per year in the last five years. Foreign contractors are required to form a 60:40 joint venture with local companies. Hamad Kama Piah said foundation and piling works for the tower is in progress. Currently at 52%, it is expected to be completed by the third quarter of next year.
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