PNB - The Warisan Merdeka 100-storey tower

On my Warisan Merdeka the 100 storey tower post, i got no comments. 


Today, let me take you through PNB... and let's you be your own judge. 

I was shown on this statement by friend which he source from LYN:

"Transparency on the financial statement for all funds: all private mutual funds companies except for PNB. PNB has never annouce their Profit and Lost account of their funds to the public."

About PNB 

Embracing the Winds of Change

If any thought could be etched into the minds of every patriotic Malaysian, it should be this one, by a great Asian leader. And if there could be an event that sparked the transformation of the Malaysian economy, it would undoubtedly be the day Permodalan Nasional Berhad (PNB) was created.

Incorporated on March 17, 1978, PNB was conceived as a pivotal instrument of the Government's New Economic Policy to promote share ownership in the corporate sector among the Bumiputera, and develop opportunities for suitable Bumiputera professionals to participate in the creation and management of wealth.

Prior to the establishment of PNB, efforts to increase Bumiputera ownership in the corporate sector were not sufficient as shares allocated to individuals were seldom retained. Research indicated that when Bumiputera shareholders sold their shares, the profits generated were consumed and not reinvested.

Through PNB, substantial shares acquired in major Malaysian corporations from funds provided by Yayasan Pelaburan Bumiputra or Bumiputra Investment Foundation were transferred to a trust fund and sold to the Bumiputera in the form of smaller units.

By employing this innovative investment model, PNB ensures that these shares are retained, resulting in the cultivation of widespread savings habits, and development of entrepreneurship and investment skills of Bumiputera.

With fund under management totaling about RM150 billion, the PNB Group is the country's leading investment institution with a diversified portfolio of interests that include unit trusts, institution property trust, property management and asset management.

Our Values 
Our Vision

"We will be the world class investment organisation, distinctive and successful in everything we do."

Our Mission

"We are the premier investment organisation committed to enhance the economic wealth of the Bumiputera community in particular and contribute towards the growth and prosperity of the nation for the benefit of Malaysians."

Corporate Value

A Continual Commitment to Excellence

"To many the name PNB, connotes the idea of a premier investment institution dealing with unit trusts, but there is more to PNB than meets the eye."Tan Sri Dato' Hamad Kama Piah Che Othman To build the culture of a modern and progressive organization, we have formulated a set of values that reflect the rich tradition and dedication to excellence that we passionately believe in and uphold at all times. Measure of Success We measure our success by our achievement of industry leadership, competitive returns and superior service to our customers and an environment of trust and personal growth for our employees. Values We believe that the success of our organization depends on understanding and satisfying the needs of our internal and external customers and strive to deliver quality products and services. Integrity We are committed to the highest level of ethical conduct in everything we do. We will strive to do the right thing. People We help our employees to improve their skills. We cultivate an environment of mutual respect, candor and trust, where all can reach their highest potential. We respect the dignity of each of our employees and their commitment towards the well-being of their families. Performance We set high expectations and goals to meet our commitments. We strive to be the best in our industry. Openness to change, to experimentation and to the pursuit of excellence, characterize our attitude to every aspect of our work. Prudence We must have the ability to govern and discipline ourselves and treat our resources with appropriate respect. Skill and good judgment are essential in the use of our resources. Prudence is at the heart of our culture and will help us remain credible as an investment institution. Speed We focus on speed of action for competitive advantage. We believe that being first, speed of action, hard work and determination to get things done are characteristics of successful organizations. Teamwork We build trust and teamwork with open candid communication at all levels of our organization. We believe that we will succeed only as a team and that the full participation of all is essential to the fulfillment of our mission.

Annual Report

The document can be downloaded in PDF format. . To view and print the document in PDF file format, you will need to have the Adobe Acrobat Reader TM installed in your browser. 

• PNB Annual Report 2000

• PNB Annual Report 2001

• PNB Annual Report 2002

• PNB Annual Report 2003

• PNB Annual Report 2004

• PNB Annual Report 2005

(Warning! Make sure you have a good internet connection when you about to click to download the annual report. The report size are 37.77MB. ) 

Source:  

http://www.pnb.com.my/index.cfm

Remarks: 

This is the best i can get. The Warisan Merdeka 100-storey tower just cost RM5 billion which is a tidy portion to PNB. Thus its can be done financially. As at todate, we dont know extractly how deep the PNB pocket are but to depend the info available from website. 

But hey, you can spend the RM5 billion from the total RM150 billion and left RM145 billion. This is sound very "simple" calculation right? You're wrong. The return tht PNB have promised to their stakeholder, in this case the ASN unit trusts holders, they might get lower return. 

Ok, i should feel safe as im not invested in any ASN unit trust, but my aunt, uncle, grandpa, grandmum, neighbors are investing in ASN unit trust...  

You be the judge. 

(p/s: This post is purely words as image uploads function is disabled due to maintenance)