KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has moved from being a predominantly domestic investor to one that is increasingly global and evolved from a single-asset, equity-focused house to a multi-asset investor.
President and group CEO Datuk Abdul Rahman Ahmad said as a result, PNB has been able to deliver sustainable returns to their unitholders – distributing RM14.5 billion last year, the highest in five years, bringing the cumulative total distribution to all Malaysians to RM263.7 billion since its inception.
“At the same time, we are transforming how we serve our customers, from enhancing our digital platforms, expanding our products, changing our distribution model, all aimed at making investing more accessible, convenient and personalised. We hope that taken together, these transformation efforts will build the foundation for a stronger, more future-ready PNB,” he told delegates at the PNB Knowledge Forum 2025 today.
Abdul Rahman said PNB believes responsible transformation must be purposeful, disciplined and deliver positive meaningful impact. “For us, this means every transformation we undertake must be directed towards delivering better outcomes for our unitholders, in line with our purpose of enhancing the financial lives of Malaysians, across generation.”
Abdul Rahman noted that since the change in presidency in the United States, geopolitics, world economy and global trade are all being redefined and transformed.
Decades of established politics, economic orthodoxy and trade policy are being recalibrated, creating what many now predict to potentially be a multipolar world, he said.
“At the same time, technology and AI are transforming how we live and work. More specifically relating to investment, technology and AI are fundamentally reshaping global markets with Magnificent 7 stocks today commanding a combined market capitalisation of more than US$20 trillion (RM84.5 trillion), driving capital market performance with size, influence and impact beyond most nations.
“In the context of Corporate Malaysia, where KLCI total shareholder returns over the last 10 years was anaemic, delivering return below fixed deposit rate, Malaysian companies must transform to deliver better shareholder value to avoid another lost decade,” Abdul Rahman said.
As individuals, he added, Malaysians recognise the need to develop new skills, adapt to new ways of working and rethinking how to save and invest for the future.
“So the relevance of transformation at every level is clear. Yet we are mindful that transformation, while powerful, is not automatically positive. Change can bring progress and improvements but also adverse effects and negative disruption, and its outcome depends on how it is led and navigated.
“At PNB, we believe responsible transformation must be purposeful, disciplined, and deliver positive meaningful impact. For us, this means every transformation we undertake must be directed towards delivering better outcomes for our unitholders, in line with our purpose of enhancing the financial lives of Malaysians, across generation,” Abdul Rahman said.
Since 2017, PNB Research Institute has organised the PNB Knowledge Forum as a platform that brings together thought leaders, industry experts and stakeholders to discuss issues shaping the nation and the economy.
PNB Group chairman Raja Tan Sri Arshad Raja Tun Uda emphasised that holistic transformation goes beyond economic reforms alone, encompassing leadership governance, institutional integrity, societal equity and cultural heritage.
He said the Madani Economic Framework serves as the blueprint to strengthen fiscal responsibility and empower the rakyat while positioning Malaysia competitively on the global stage.
“In today’s fast-changing world, transformation is no longer just about adaptation, it is about rethinking how we work, lead, and create value at every level.
“For PNB, this means staying true to our mandate to enhance the economic wealth of all Malaysians through inclusive financial empowerment, offering diverse investment options that make wealth-building accessible to all, ensuring shared prosperity,” he said.
This year, PNB has broadened participation to bring together not only Corporate Malaysia, industry partners and policymakers but also selected unitholders, and the next generation of Malaysians, particularly the Celik Madani participants.
Abdul Rahman said the diverse mix of participants this year reflects PNB’s growing ecosystem and its continued commitment to driving impact across all segments of society.
