KUALA LUMPUR: Permodalan Nasional Bhd (PNB) continues to show resilience in navigating global economic uncertainty, delivering competitive returns to unitholders, and making significant strides in advancing its sustainability commitments, while reinforcing its role in strengthening Corporate Malaysia.
In its published report, Integrated Report 2025 (IR 2025), PNB highlighted the organisation’s performance and progress over the past year.
Despite a year marked by trade tensions, cautious monetary easing, and geopolitical volatility, the report showed PNB recorded strong investment outcomes.
Assets under management (AUM) rose to RM366.5 billion, bringing the organisation closer to its LEAP-6 target of RM400 billion by 2027.
The flagship Amanah Saham Bumiputera (ASB) Fund declared a dividend of 5.75 sen per unit, resulting in a record payout of RM15.3 billion to 11.4 million unitholders nationwide.
This performance was underpinned by a disciplined diversification strategy across equities, fixed income, private credit, and global markets, which cushioned volatility and ensured sustainable returns.
Group chairman Raja Tan Sri Dato’ Seri Arshad Raja Tun Uda said PNB’s mandate goes beyond returns and is about building resilience, uplifting lives, and ensuring that Malaysians across generations benefit from sustainable prosperity.
Speaking on PNB’s performance, acting president and group chief executive Datuk Rizal Rickman Ramli said 2025 was a year of execution under PNB’s LEAP-6 transformation journey.
“Our growth in AUM reflects not only financial strength, but also the effectiveness of our customer-centric approach and disciplined investment strategy,” he said.
PNB continues to play a pivotal role in strengthening Corporate Malaysia, contributing to efforts to grow market capitalisation by RM100 billion over five years through coordinated GLIC and GLC collaboration.
The consolidation of Ekuiti Nasional Bhd (Ekuinas) under PNB represents a key structural development with lasting implications for PNB’s role in Corporate Malaysia, including providing deeper capabilities to nurture Bumiputera enterprises across their growth journey, from pre- to post-listing.
In parallel, Permodalan Nasional’s role in the Government-linked Enterprises Activation and Reform Programme (GEAR-uP) and the 10 Bumiputera Champions initiative reflects its commitment to fostering inclusive economic growth and developing credible, future-ready businesses.
Meanwhile, at the grassroots level, PNB expanded its financial literacy and empowerment programmes.
Financial literacy initiatives such as Celik MADANI have gained strong national traction, with over 200,000 student participants recorded as of 2026.
The IR 2025 also underscores PNB’s progress in embedding sustainability across its portfolio and operations.
The organisation achieved Net Zero Enterprise emissions for Scope 1 and Scope 2 in 2025, marking a milestone in its decarbonisation journey.
It advanced towards its Net Zero Portfolio 2050 ambition, with 40% of the portfolio’s emissions now covered by credible net-zero targets.
Beyond environmental commitments, Permodalan Nasional allocated RM100 million to social impact initiatives, including education, financial literacy, flood relief, and grassroots community upliftment, benefitting thousands of Malaysians.
“Sustainability is not an adjunct to our strategy; it is integral to our risk management, value creation and institutional credibility. Achieving Net Zero Enterprise emissions in 2025 demonstrates that meaningful progress is possible with clear intent and disciplined execution,” Rizal Rickman said.
Having delivered a strong performance in 2025, Rizal Rickman said PNB is focused on sustaining this momentum while remaining alert to an increasingly complex and evolving external environment.
“The global outlook continues to be shaped by heightened tensions and macroeconomic uncertainty.
“In particular, the escalation of conflicts in the Middle East has further strained an already fragile geopolitical landscape, disrupting supply chains, affecting energy flows, and driving volatility in global energy prices.
“These developments are expected to have broader knock-on effects on global growth and capital markets.
“In navigating this environment, our resilience is underpinned by actions at both the portfolio and enterprise levels.
“Taken together, these efforts position PNB to navigate near-term challenges while delivering sustainable value to our unitholders.”
