PNB ready to give financial aid to underperforming ‘core companies’
Income distribution: Zeti and Abdul Rahman unveiling the income distribution rate for ASM 3 at 6 sen per unit. — Bernama
KUALA LUMPUR: Permodalan Nasional Bhd (PNB), which manages RM288.1bil in assets, has signalled its intention to provide financial support to underperforming “core companies” seeking to turn around their business.
“We started effectively with support in the participation of Sapura Energy Bhd 
’s transformation exercise, which we believe if executed well will deliver very positive results in the future,” said president and group chief executive officer Datuk Abdul Rahman Ahmad to reporters after the launch of PNB’s new unit trust products.
Sapura Energy had in late August announced a RM4bil cash call to shore up its financial position and capital structure. PNB is the second-largest shareholder in Sapura Energy, owning about 12%.
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