Malaysian state-owned fund manager PNB in demerger mode for 2017

Kuala Lumpur

IN a bid to extract greater shareholder value out of its portfolio companies, Malaysia's biggest state-owned fund manager Permodalan Nasional Bhd (PNB) has indicated that it would focus more this year on demerging units or hiving off assets of underperforming companies, particularly those with multi-businesses.

At an annual review of the fund's 2016 performance on Monday, PNB group chairman Abdul Wahid Omar talked about creating "simpler focused structures, streamlined pure plays which could lead to better shareholder value".