PNB has recently announced a 5.00 sen per unit ASB income distribution for the year 2019, as well as a 0.50 sen per unit bonus.
Certain irresponsible parties have, as predicted, attempted to politicise this development and have tried to blame it on the Federal Government.
However, this willfully ignores the fact that the global economy has faced significant setbacks this year and the many initiatives to boost good corporate governance that PNB has undertaken.
PNB’s Asset Under Management is also over RM300 billion, with about 90 percent being invested in Malaysia. Any major movement by PNB will have a huge impact on the Malaysian stock market. ASB is not a magic fund operating in a vacuum.
In this light, the 5.5% dividend, while perhaps disappointing for some, is still an achievement of some magnitude by PNB. RM9.0 billion is distributed to 10 million unit holders. It speaks volumes on the hard work of the PNB team including the new leadership.
Like it or not, as a trading economy Malaysia is plugged into the global economy and we will never be able to completely insulate ourselves from its currents. Making the people addicted to unsustainable dividends is simply irresponsible.
NIK NAZMI NIK AHMAD
KEADILAN CHIEF ORGANISING SECRETARY
KEADILAN CENTRAL LEADERSHIP COUNCIL MEMBER
SETIAWANGSA MEMBER OF PARLIAMENT