KUALA LUMPUR: Across Corporate Malaysia, transformation has emerged as more than just a strategic initiative – it is a mindset shaping how organisations evolve, compete and create value.
For Permodalan Nasional Bhd (PNB), transformation reflects a journey of continuous growth and renewal, marked by a shift from a predominantly domestic investment focus to a more diversified and globally attuned portfolio.
PNB deputy president and group chief executive Datuk Rick Ramli said this evolution has required rethinking business models, refreshing corporate values and cultivating a stronger culture of purpose and learning.
“PNB’s efforts underscore that transformation is not a single milestone but a sustained process of building resilience, trust, and relevance in a changing world. Since our inception, PNB’s portfolio has undergone a remarkable shift. In the early years, about 96% of our investments were concentrated domestically, with only 2% allocated internationally.
“Today, while those proportions have changed significantly, the principle remains the same – transformation is never a one-time effort but a continuous process,“ he told delegates at a panel discussion entitled “Transformation at Scale: Delivering Sustainable Shareholder Value in Malaysia”, at the PNB Knowledge Forum 2025 today.
He said the challenge in this transformation journey lies in the evolution of PNB itself – an evolution that reflects the agency’s growth and learning over time.
He added that this transformation required PNB to rethink, reorganise and re-strategise.
“We had to rebuild many of our processes and realign our distribution model, moving from a business focused mainly on annual monetary returns to one that offers broader, more meaningful services to our unitholders.
“Our goal has been to strengthen customer relationships, ensuring that we deliver not only financial outcomes but also real value and trust.
“To do this effectively, we needed to change how our organisation operates – from how we deliver services, to how we engage with our customers, partners and stakeholders. It has been a challenging but necessary journey, one that demanded both operational transformation and cultural renewal,” Rick Ramli said.
Sime Darby Property Bhd group managing director and CEO Datuk Seri Azmir Merican said the company shares a similar conviction that transformation is an ongoing pursuit of excellence.
He said operating within an ever-changing market landscape, the company recognises the need to anticipate and adapt to cyclical shifts while staying anchored in its purpose – to serve communities and create lasting impact.
“At Sime Darby Property, we have made significant strides, but transformation also means acknowledging where we can do better. Understanding both our successes and our challenges allows us to make more informed decisions for the future.
“As a property developer, we operate within an ever-changing landscape, one that moves in cycles and responds to broader economic and social shifts. We cannot simply stand aside when these market cycles unfold; instead, we must anticipate, adapt, and position ourselves to capture emerging opportunities.
“Ultimately, our purpose remains clear: to serve the communities we build for. Transformation, for us, is not just about growth in numbers or projects delivered – it’s about creating long-term value, improving lives, and ensuring that our developments contribute meaningfully to the people and places we serve,” he said.
Maybank Group president and group CEO Datuk Seri Khairussaleh Ramli said the banking group will hold an annual awards convention every year to recognise and promote the spirit of transformation within the organisation.
He said this initiative is aimed at identifying effective ways to drive transformation and foster a supportive environment for it to thrive.
“At this organisation, we are committed to creating a new focus and pursuing policies that reinforce our transformation agenda.
“I believe this effort is increasingly important. Personally, I’m very keen to ensure that Maybank continues to build a strong culture of learning. Even if we start small, having everyone take part in this learning journey would be truly tremendous,“ he said.
PNB yesterday hosted the PNB Knowledge Forum 2025 themed “Transformation”, highlighted by the “In-Conversation” session with Prime Minister Datuk Seri Anwar Ibrahim. Organised by PNB Research Institute, the forum brought together global thinkers, national leaders, corporate architects and personal voices to chart how transformation shapes economies, organisations and lives.
