PNB aims to expand diversification efforts over longer term into renewable energy, 5G tech, logistics

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KUALA LUMPUR (April 8): Permodalan Nasional Bhd (PNB) aims to gradually expand its diversification efforts into new investments over the longer term, said the fund’s president and group chief executive officer (CEO) Ahmad Zulqarnain Onn.

He shared that the potential sectors include renewable energy and 5G technology, logistics and data centres, while continuing with buyouts, secondaries and possibly the domestic consumer discretionary sector under the private equity portfolio.

“With the organisational transformation initiatives implemented during the year, PNB is now more agile and well equipped to realise greater potential as we enter the post-Covid-19 era.

“We will pursue our Focus 4 strategies towards growing our portfolio to do better for the benefit of bumiputeras and all Malaysians, and for the overall prosperity of the nation,” he said at a virtual press briefing of PNB’s Annual Report 2020 today.

The Focus 4 strategies are diversification, value creation, risk management and organisational transformation.

More to come