Pelaburan Mara Bhd (PMB) is targetting to manage RM1.4 billion worth of asset funds by the end of this year following a significant spike in asset funds managed by the strategic investment and asset holding company.
PMB is a the investment unit of government’s statutory body Majlis Amanah Rakyat (Mara).
“As of July 31, 2014, PMB is managing RM973 million worth of asset funds, an increase of 113% from the RM456 million worth of asset funds reported in financial year ended Dec 31, 2013.
“The reported RM973 million is comprised of RM329 million unit trust funds and RM644 million portfolio funds,” PMB Investment Bhd’s CEO Ameer Ali Mohamed told reporters after the launch of Komuniti i-Generasi PMB Investment last Friday.
Besides that, PMB also said it is looking at further increasing its investments locally and abroad, eyeing companies in the oil and gas, infrastructure and technology industries.
It was earlier reported that PMB is increasing its stake in BHS Industries Bhd up to 18% from its current 8.3% as a usual course of its business and strategic investments.
PMB also recently bought major stakes in loss-making container line PDZ Holdings Bhd. It plans to inject oil and gas assets into PDZ. Komuniti i-Generasi is part of PMB Investment’s initiative in educating the young generation on investment and the importance of it.
“The majority of young adults are not well versed with investments and the stock market.
Through the activities organised through i-Gen, they would understand the importance of an early preparation” “This is a transformation to educate and develop the young generation’s knowledge in order for them to invest in the future” said Pelaburan MARA’s President Datuk Sohaimi Shahadan during his speech at the launch of i-Gen.
The i-Gen community is divided into i-Gen Junior targetting children of the age group six to 12 and i-Gen Teen for children of the age group 13 to 17. Membership for the i-Gen community is free and would start from a minimal investment of RM10.
The Malaysian Reserve on 11 Aug 2014 by by Kavithah Rakwan (Click here)