Azmin cites global market, past governance issues for lowest ASB payout yet

Datuk Seri Mohamed Azmin Ali (photo sourced from his Facebook account)

KUCHING, Dec 20: The reasons for the lowest ASB dividend payout since its inception in 1990 was due to global market and past governance issues said Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali.

According to the report from The Star, Azmin said Permodalan Nasional Berhad (PNB) which manages Amanah Saham Bumiputera (ASB) had done its best to ensure both depositors and shareholders would get their returns despite the weaker economic climate.

“Aside from the global market and also governance issues in the past, the new PNB management team has tried their level best to ensure that governance and accountability are the pillars in the new team,” Azmin told the media on the sideline of the Kuala Lumpur Summit 2019 today.

Azmin had also explained that the government would continue to ensure that PNB would be governed strictly, with integrity and accountability.

“We want to make sure that PNB is governed with transparency and accountability, but PNB will explain that. It involves over RM9 billion and it is not a small amount of money,” added Azmin.

On Wednesday, PNB announced a distribution of 5.5 sen per unit for ASB unitholders, comprising a 5 sen distribution and a 0.5 sen bonus for the year ending December 31, 2019. The income distribution for the year is lower than last year’s total distribution of 7 sen per unit.

The total payout for income distribution will be RM9 billion to some 10 million unitholders.—DayakDaily