Monday, September 26

DPM wants PNB to develop Sabah’s investment sector

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KOTA KINABALU: Deputy Prime Minister Tan Sri Muhyiddin Yassin would like to see companies under Permodalan Nasional Berhad (PNB) Group play a more active role in developing Sabah’s investment sector.

Speaking at the closing of the ‘Minggu Saham Amanah Malaysia (MSAM) 2012’ here yesterday, Muhyiddin said  investments could be in the sectors identified under the Economic Transformation Program (ETP) such as the oil and gas industry, palm oil, tourism and agriculture.

He pointed out that in Sabah, there were several Entry Points Projects (EPP) that would be contributing to the country’s gross domestic income by 2020.

Among the projects are the Sabah Oil and Gas Terminal in Kimanis which is expected to contribute about RM6.3 billion, POIC Lahad Datu and Sandakan, RM8.6 billion and the coastal tourism development, RM1.7 billion.

“Overall, a total of 31 EPP which will contribute RM33.5 billion have been identified in Sabah. These projects will create 143,770 job opportunities by 2020,” he said.

Muhyiddin also said that 92 per cent of the RM77.5 billion investment needed to implement the projects was expected to come from the private sector, including from PNB.

He expressed hope that all parties involved would work together with the government to get more funds so as to benefit Sabah’s economic growth.

Muhyiddin also reminded PNB that its role is not only to educate the public about investment and finance, it also has to help increase public awareness on the need to be financially secure for their retirement.

“It is therefore imperative for PNB to offer attractive investment schemes in unit trusts to attract investors as this will not only help the rakyat maintain their retirement fund through their EPF, it also protects the savings from devaluation caused by inflation,” he said.

Meanwhile PNB Group chairman Tun Ahmad Sarji Abdul Hamid said the Minggu Saham Amanah Malaysia (MSAM) 2012 had achieved a new record in attendance since it started in 2000.

“The figure in Sabah is the best so far with 268,787 visitors. The figure also surpassed our initial target of 200,000 visitors,” he said in his welcoming address.

In the past, the highest number of visitors to MSAM was the one held in Kuala Terengganu in 2006 with a total of 255,000 people.

According to him, so far, from 13 MSAMs organised, they have recorded a total of 2.355 million visitors to the events.

Ahmad Sarji said PNB’s success could be attributed by five factors, including the swift service provided by 1,600 appointed agents.

PNB will continue to improve its equity assets through real estate in Kuala Lumpur, Brisbane and London.

Other than that PND also holds equity in big companies such as Maybank, Sime Darby, I&P Group, UMW Holdings, CCM, MIDF, Northport, Perodua and Prolintas,” he said.