KUALA LUMPUR – Permodalan Nasional Bhd (PNB) announced yesterday that its president/group CEO, Tan Sri Hamad Kama Piah Che Othman, will retire effective Sept 30, 2016, after 37 years with the PNB Group.
Datuk Abdul Rahman Ahmad, 47, formerly CEO of Ekuiti Nasional Bhd (Ekuinas), will take over from Hamad Kama Piah with effect from Oct 1, 2016.
“Hamad has been with the group for 37 years, 18½ years of which as CEO. He has been instrumental in delivering sustained and competitive returns to PNB’s unitholders. On behalf of the board and management, I would like to thank Hamad for his outstanding service, drive and commitment in leading PNB to what it is today as a leading and respected investment institution in the country,” PNB Group chairman Tan Sri Abdul Wahid Omar said in a statement.
During Hamad Kama Piah’s tenure, PNB’s total assets under management grew sixfold from RM38.7 billion in December 1997 to more than RM260 billion currently. At the same time, total units in circulation grew sixfold from 30.7 billion units in December 1997 to over 208 billion units, with total holder accounts base doubled from 6.9 million accounts in 1998 to over 12.8 million accounts.
Wahid said Hamad Kama Piah made it his mission to ensure PNB was able to meet the high expectations of its unitholders year-on-year despite the challenging market environment.
PNB has delivered consistent and competitive returns for all its funds, including Amanah Saham Bumiputera, Amanah Saham Nasional and Amanah Saham Wawasan 2020, with its flagship fund ASB delivering an average return of 8.63% a year over the last decade.
Hamad Kama Piah will continue to serve as chairman of PNB Development Snd Bhd, a wholly owned property development arm of PNB.
In a statement, Hamad Kama Piah said he was truly humbled to have been able to serve all Malaysians over 37 years in PNB, as part of the team involved in the implementation of a catalytic government policy for the sharing and distribution of corporate wealth among the masses through unit trust schemes.
“I am grateful to have been given the opportunity to contribute in one way or another for the betterment of the lives of PNB’s unitholders via the accumulation of investments and enhancement of incomes,” he said. – Bernama