PNB declares 6.25 sen dividend for ASN fund

Tan Sri, Ahmad Sarji Abdul Hamid (left) and Tan Sri Hamad Kama Piah Che Othman at the press conference

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) subsidiary Amanah Saham Nasional Bhd (ASNB) has announced a higher income distribution for investors of its Amanah Saham Nasional (ASN) growth fund.

PNB chairman Tan Sri Ahmad Sarji Abdul Hamid said the better payout was due to the healthy performance of the local bourse and promising economic conditions.

"The ASN fund's (good) performance was as a result of the (KQ Composite Index, which touched an all-time high of 1,440.39 points on Dec 6," Ahmad Sarji told a press conference yesterday.

"The initiatives undertaken by the Government in developing the country's economic growth also contributed positively to the fund," he added.

For its financial year ending Dec 31 (FY07), ASNB will be making an income distribution of 6.25 sen per unit for its ASN fund, an increase of 0.75 sen from 5.5 sen per unit in FY06.

Ahmad Sarji said the income distribution would involve a total payment of RM86.81mil to 1.21 million unit holders subscribing for 1.39 billion units of ASN.

"It (the income distribution) will be reinvested into additional ASN units

calculated on the net asset value of ASN as at Dec 31 and be automatically credited into the unit holders' accounts," he said, adding that up to Dec 24, ASN had grossed 12.33% higher income to RM129.02mil from RIV11 14.86mil in FY06.

Of the total income achieved, profit from sale of shares accounted for RM75.99mil, or 58.9%, followed by dividend income of RM41.67mil, or 32.3%, with the remaining RM11.36mil, or 8.8%, derived from short-term investment instruments.

Ahmad Sarji added that transactions of ASN at the ASNB offices had been suspended from Wednesday to facilitate calculation of the income distribution. Transactions would resume on Jan 2, he said.

On another note, PNB president and chief executive Tan Sri Hamad Kama Piah Che Othman also commented on the group's foreign investment strategies.

"PNB currently uses its own funds for overseas investment, but we are looking to invest the money from the funds if we feel the returns would be promising," he said.

PNB planned to launch new products in the first quarter next year to cater to more non-bumiputra investors, he added.