Incorporated on 17 March 1978, PNB was conceived as a pivotal instrument of the Government's New Economic Policy to promote share ownership in the corporate sector among the Bumiputera (son of the soil), and to develop opportunities for deserving Bumiputera professionals to participate in the creation and management of wealth.Permodalan Nasional Berhad (PNB) has emerged as the country’s premier investment institution. As an investment vehicle for the Yayasan Pelaburan Bumiputra (YPB), the core function of PNB is to evaluate, select and acquire a sound portfolio of shares in limited companies with growth potential. Being an organisation that specialises in investment, PNB in essence acts as a warehouse, whereby shareholdings in these limited companies are placed in trust funds and sold to unit holders in the form of smaller units.
From its first unit trust scheme, the Sekim Amanah Saham Nasional (ASN) launched on 20 April 1981, right up to its latest product, Amanah Saham Bumiputera 2 (ASB 2) launched on 2 April 2014, PNB through its wholly-owned subsidiary, Amanah Saham Nasional Berhad, has been instrumental in creating a paradigm shift and changing the mindset of Malaysians, particularly the Bumiputera community, in the areas of savings, investment and financial planning, and the way they view risks and returns on investment. The overwhelming response from Malaysians from all walks of life and income strata towards PNB's unit trust funds has been manifested in PNB's ability to mobilise more than 13 million accounts to date.With the money generated from the public, PNB has acquired many large and strategic companies, and many are industry leaders in their own respective fields, such as financial, insurance, plantation, property, automotive, logistics, infrastructure, pharmaceuticals and chemicals. The drive for value has prompted PNB to undertake a series of corporate exercises, where companies under the PNB portfolio were reorganised, merged or acquired to increase their operational efficiency and to attain synergistic benefits, thus enabling PNB to achieve its aim for consistent returns. PNB has developed a clear strategic plan in charting its way forward to ensure that it can sustain its performance for the next six years and beyond. To attain its vision of being A Distinctive World Class Investment House, and the mission to enhance the economic wealth of the Bumiputera community and all Malaysians, for the prosperity of the nation, PNB has formulated the PNB STRIVE-15 Strategic Plan 2017-2022. PNB STRIVE-15 comprises three pillars, namely (i) Enhancing sustainable returns; (ii) Effective investment management; and (iii) Driving operational excellence. With the STRIVE-15 plan in place, PNB targets to achieve its key deliverables by 2022, supported by sustainable, consistent and market-leading returns as well as an enhanced customer experience. PNB also aims to continue investing in high-performing Malaysian corporates.
Figure: PNB STRIVE-15
We possess the competency to deliver high performance.
We treat people with mutual respect, stay grounded to our roots, always cognizant that we
We will not compromise on integrity and we are committed to the highest level of ethical conduct.
We are focused in safeguarding our unit holders’ wealth.
We are passionate in our task to achieve beyond the ordinary.
"A paragon of honesty, integrity, humility, loyalty, hard work, simplicity and professionalism", these are the words that best describe the late Tun Ismail bin Mohamed Ali, the first Malaysian to hold the post of Governor of Bank Negara Malaysia and the longest serving Asian Central Bank Governor.
Born on 16 September 1918 in Port Klang, Selangor, Tun Ismail spent the formative years of his education at Batu Road Boys School and Victoria Institution in Kuala Lumpur. Being the first Malay to be granted the prestigious Queens scholarship to study at Cambridge University, Tun Ismail graduated with a Degree in Economics in 1941 and was later admitted to the Middle Temple, Inns of Court, London, where he became a barrister-at-law.
After nine years abroad, he returned to Malaysia in 1946 and started service in the then Malayan Civil Service, holding a variety of posts ranging from a short stint in the United States of America with the Embassy of Malaya, to distinguished responsibilities as the Executive Director of the World Bank and subsequently as the Governor of Bank Negara Malaysia in 1962 and Chairman of Permodalan Nasional Berhad in 1978.
Throughout his 18 years at Bank Negara from 1962 to 1980, Tun Ismail laid the foundation to a strong financial system. To many who have come to know him, he was a man of impeccable integrity and virtue. He pioneered the belief of imposing exacting work practices and ethics on himself and those working with him.
I would like to thank the Prime Minister YAB Dato’ Seri Dr. Mahathir Mohamad, for his willingness to take time off to officiate the PNB Gallery this morning.
In recognition of the effort and contributions of the late Tun Ismail bin Mohamad Ali, PNB’s First Chairman, the PNB Gallery will hereby be named "Galeri Tun Ismail Mohamed Ali". The late Tun Ismail was the first Chairman of PNB since PNB was established on 17 March 1978, and served until 17 October 1996. He remained an adviser to PNB until he passed away on 6 July 1998.
In addition to the establishment of the gallery, PNB has also created the Yayasan Tun Ismail Mohamed Ali. The Yayasan Tun Ismail Mohamad Ali is established in recognition of the immense and invaluable contribution by the late Tun to both the public and corporate sectors in Malaysia and internationally. The late Tun, a Queen's scholar, was the first Malaysian to be appointed as the Governor of Bank Negara Malaysia. He retired in 1980 after 18 years of exemplary service. The Yayasan Tun Ismail Mohamad Ali recognised his prudent, firm and wise monetary policy as Governor of Bank Negara.
As the Chairman of Permodalan Nasional Berhad, which he helped to establish, under his prudent tenure and farsighted guidance, the unit trust fund under PNB have successfully managed to mobilise funds from Bumiputeras to become the largest unit trust fund in the country, obtaining the trust and confidence of more than 7 million unit holders, investing their hard earned income and savings. Hence, it is indeed a befitting homage, to name this foundation after this man of vision, who has made PNB into a successful premier investment institution today, and an example to the world.
The objective of the Yayasan Tun Ismail Mohamad Ali is to award scholarships to students who have secured places at well known universities in the United Kingdom, such as the Cambridge University, the alma mater of the late Tun, to pursue degrees in law, economics, engineering, accounting and material science, at either the undergraduate or postgraduate level. PNB will continue with Tun Ismail's efforts in the creation of Bumiputera entrepreneurs with solid academic credentials and inculcated with values of honesty and professionalism.
The Yayasan is also committed in the enhancement of quality education and intellectual research, and it has allocated a significant sum of money in sponsoring two professorial chairs in the name of Tun Ismail Mohamad Ali at the University of Malaya (UM) and Universiti Kebangsaan Malaysia (UKM) in the field of economics and law.
The Yayasan is financing the writing and publication of a biography of the late Tun and is nearing completion.
PNB has also established an archive using his office room in the PNB as a repository of the artefacts and documents of the late Tun for the purpose of academic research.
I have personally worked with the late Tun Ismail for 13 years, starting from 1985 when I was the Secretary General of the Trade and Industry Ministry and Chairman of RIDA, when he appointed me as a member of the Board of Directors of PNB. After that for one year (September 1995 - September 1996) I was the Deputy Chairman of PNB. From October 1996 until he passed away, Tun Ismail was PNB Advisor. We have the same birthday, which is 16 September. Although the late Tun was small in stature, I notice that his firm demeanour and forceful personality made him stand out in any crowd. Personally, I find Tun a humble man with austere tastes. He once said; "To be humble in front of your superiors is a duty; to be humble among your peers is courtesy; to be humble before your subordinates is nobility." For in Tun, we find the best of the old world. Honesty, integrity, humility, loyalty, hard work, simplicity and professionalism.
The Tun Ismail Mohamed Ali Gallery is a live gallery in which the displays in the exhibition will be changed every six months.
In conjunction with this launching ceremony and in paying homage to his contribution, most of the Tun Ismail Mohamed Ali Gallery exhibition area displays Tun’s photos and his personal collection many of which have yet to be published by any media or seen by the public. In addition, this gallery also displays photos related to PNB's background and the organisation of the annual national agenda, namely the Malaysia Unit Trust Week.
At this time, also included in the exhibition are paintings by the local artists in an effort to highlight their work and talent. It is hoped that this PNB initiative will provide opportunities for artists to exhibit their artwork in order to uphold the country's art gallery.
To end this I would like to express my heartfelt gratitude to the YAB Prime Minister and YABhg Datin Seri Dr. Siti Hasmah Mohd Ali who are willing to take the time to officiate Galeri Tun Ismail Mohamed Ali.”