PNB Welcomes 50-acre Land Endowment To Boost Bumiputera Wealth
KUALA LUMPUR, Oct 9 (Bernama) -- Permodalan Nasional Bhd (PNB) has welcomed the government’s Budget 2027 announcement to endow Yayasan Pelaburan Bumiputra with 50 acres of prime commercial land in Kuala Lumpur, to be managed by PNB.
PNB president and group chief executive Datuk Rizal Rickman Ramli said the endowment was the company’s first new one since its early years in the 1980s, reinforcing its mandate to grow Bumiputera wealth and economic participation.
In a statement today, he said PNB would preserve the endowment’s capital and reinvest it to generate future growth, while distributing profits to benefit unitholders.
PNB also welcomed the exemption from entertainment duty for arts, cultural, entertainment and sporting activities at Stadium Merdeka and Stadium Negara.
Rizal said the exemption would encourage greater public participation in activities at both venues and increase their use, while supporting heritage preservation within the Merdeka 118 precinct.
-- BERNAMA