Investment firms should emulate PNB - Ahmad Zahid

He said PNB, which was set up through a special government allocation of RM200 million in 1979, now boasted assets under management and investment worth RM266.5 billion - unmatched by any government-sponsored company.

Ahmad Zahid said PNB''s success was driven by high professional and management integrity since it was spearheaded by its first chairman, Tun Ismail Ali and first Chief Executive Officer and General Manager Tan Sri Mohd Desa Pachi.

"Many companies had been given the mandate by the government, but some of them faced big problems as they compromised their integrity.

"When this happens, it means procedures in their operations and management were tailored for personal preference... the interest of certain groups supersedes that of companies, but this does not happen to PNB," he said at the close of the five-day Malaysian Unit Trust Week (MSAM) 2017 here today.

Present were Pahang Menteri Besar Datuk Seri Adnan Yaakob, PNB Chairman Tan Sri Abdul Wahid Omar, PNB President and CEO Datuk Abdul Rahman Ahmad, Pahang State Secretary Datuk Seri Muhammad Safian Ismail, and Pahang Tourism and Culture Commitee Chairman Datuk Seri Mohd Sharkar Shamsuddin.

Ahmad Zahid said PNB''s strength could be seen through its ability to manage a large amount of investments, funds and assets which were raised through its existing capacity, without having to increase the number of employees.

Ahmad Zahid said when former PNB CEO Tan Sri Khalid Ibrahim and him visited another country before, they were asked to share PNB''s success in churning out healthy dividends.

"We told them the methods and approach. Eventually, an investment entity was formed, but it lasted for only five years due to lack of integrity among their leaders.

"This does not happen to PNB as we concentrate on core business by distributing wealth through the company''s fortunes. At the same time, the government has the political will since the previous leaders until Datuk Seri Najib Tun Razak," he said.

Commending PNB for changing the perception and attitude of the people in making voluntary savings, he said a new study showed that the Malaysian saving rate of as much as 38 per cent was an achievement as it was just below that of developed countries at 40 per cent.

"We only need another two per cent to draw level. I believe when the economy gets stronger and an awareness campaign is carried out properly, it will increase the voluntary saving behaviour, and we will be on par with developed countries," he said.

He described the dividend payout totalling RM157.5 billion since PNB''s inception until the first quarter of this year as very encouraging

Describing his stint at PNB (with Skim Amanah Saham Nasional) from July 2, 1979 until Feb 2, 1985 as a good experience, he recounted that although Tun Ismail Ali (PNB first chairman) was soft spoken, he instilled ''management by fear'' and was highly respected for not compromising on integrity.

Ahmad Zahid also commended the MSAM 2017 organiser for being able to attract 183,426 visitors, exceeding its target of 150,000.