28/03/2025

FRIDAY | MAR 28, 2025

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BIZ & FINANCE

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BIZ & FINANCE ASNB declares total payout of RM2.18b for ASB 2 and ASM PETALING JAYA: Permodalan Nasional Bhd (PNB) wholly owned unit trust management company Amanah Saham Nasional Bhd (ASNB) yesterday announced a total income distribution payout of RM2.18 billion for the financial year ending March 31, 2025 for two fixed price funds – Amanah Saham Bumiputera 2 (ASB 2) and Amanah Saham Malaysia (ASM). ASB 2 declared a total income distribution payout of RM0.73 billion, equivalent to 5.50 sen per unit to 614,309 Unitholders who currently own 14.12 billion units and ASM declared a total income distribution payout of RM1.45 billion, which is equivalent to 5.00 sen per unit to 740,513 unitholders with 29.14 billion units. As of March 20, 2025, ASB 2 recorded a net realised income of RM0.80 billion, while ASM recorded RM1.55 billion. Despite the challenging global capital market environment characterised by tariff tensions, elevated inflation and uncertain economy, the income distributions for ASB2 at 5.50 sen per unit and ASM at 5.00 sen per unit mark an increase of 0.25 sen per unit compared to last year. The funds have also seen progressive improvements over the past three years, reflecting PNB’s commitment to enhance returns and strengthen portfolio resilience. The distributions of ASB 2 and ASM translate to total returns of 5.50% and 5.00% respectively, both outperforming the benchmark of Maybank’s 12-month fixed deposit at 2.56% by 294 basis points for ASB 2 and by 244 basis points for ASM. The strong performance of these two fixed price funds is driven by positive domestic and global equity returns as well as continued asset diversification strategy across geographies and asset classes. Going forward, PNB will continue with assets diversification particularly into fixed income to ensure a stable and consistent stream of income. The computation of income distribution for ASB 2 and ASM is based on the average minimum monthly balance held throughout the financial year of each fund. The distributions declared by these funds will be automatically reinvested into unitholders’ accounts on April 1. Abdul Farid Alias takes over as Bursa Malaysia chairman from May 1 PETALING JAYA: Bursa Malaysia Bhd has appointed Tan Sri Abdul Farid Alias as its new chairman effective May 1. Abdul Farid, who has served on the board of Bursa Malaysia since July 2022, succeeds Tan Sri Abdul Wahid Omar who will be retiring on April 30 upon completion of his five-year tenure as chairman of Bursa Malaysia. The new appointment was made by the Minister of Finance under Sections 10(1)(a) and (3) of the Capital Markets and Services Act 2007. “On behalf of the board of directors, we congratulate Tan Sri Farid on his appointment as the new chairman of Bursa Malaysia. His service as the senior independent non-executive director of Bursa Malaysia facilitates a seamless transition into the chairmanship seat,” said Abdul Wahid. He added that the exchange will continue to strengthen and thrive under Abdul Farid, who embodies the same core values that drive Bursa Malaysia’s purpose-focused growth, ensuring a continuation of the exchange’s commitment to creating opportunities and growing value for our stakeholders. Abdul Farid said he looked forward to steering the organisation together with other board members and Bursa management.

All major economic sectors recorded growth in 2024

PETALING JAYA: Malaysia’s economy grew by 5.1% in 2024, an improvement from 3.6% in 2023, said Chief Statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin when highlighting Malaysia’s economic trajectory. “All major sectors recorded growth, with the services sector leading at 5.4%. The manufacturing sector expanded by 4.2%, while construction saw a remarkable increase of 17.5%. The agriculture sector registered a growth of 3.1%, reflecting steady progress in the sector,” he said, adding that mining and quarrying posted a slower rise of 0.9%, contributing to overall economic expansion. Maintaining its upward trend, Malaysia’s industrial production recorded moderate growth in January 2025, with the Industrial Production Index (IPI) rising by 2.1% year-on-year. The increase was primarily driven by the manufacturing sector, which expanded by 3.7%, though at a slower pace than the 5.8% growth recorded in December 2024. Meanwhile, the mining sector contracted by 3.1% whereas the electricity sector recorded a slight decline of 0.1%. On a month-on month basis, the overall IPI slipped by 0.4%, reflecting a slowdown in industrial activity. Sustaining its growth trajectory, Malaysia’s manufacturing sector continued to expand, with total sales reaching RM1.9 trillion in 2024. In January 2025, the sector recorded a 3.5% increase in sales value, reaching RM158.1 billion, following a stronger growth of 5.7% in December 2024. However, on a month-on-month basis, this sector recorded a dip of 0.2% compared to December 2024. Taking a broader perspective, Malaysia’s wholesale and retail trade sector recorded RM148.9 billion in sales in January 2025, marking a 4.6% increase compared to the same month last year. This growth was primarily driven by strong performances in retail trade, which expanded by 8.2%, and wholesale trade, which grew by 4.9%. In tandem with this upward trend, the volume index registered a year on-year increase of 3.8%, reflecting sustained demand in both retail and wholesale segments. However, on a month-on-month basis, total sales declined by 2.1% compared to December 2024. This contraction was largely attributed o Services led with 5.4% increase, Department of Statistics says in review of Malaysia’s performance last year and early 2025 PETALING JAYA: Grab Malaysia recently signed a memorandum of understanding (MoU) with BYD Sime Motors, Yinson Green Technologies (M) and Power-Up Tech (P.UP) to drive adoption of electric vehicles among Grab driver-partners nationwide. In a statement yesterday, Grab Malaysia said the collaboration aims to promote EV adoption and provide Grab driver-partners with accessible EV solutions while reducing carbon emissions, and contributing to Malay sia’s green economy. Through these strategic partnerships, Grab aims to accelerate the electrification of the

December 2024, total trade declined by 6.2%, with exports edged down by 7.2% and imports contracting by 5.1%, indicating a temporary slowdown in external demand. Mohd Uzir highlighted that Malaysia’s Leading Index (LI) signalled positive economic growth in January 2025. The index recorded a year-on-year increase of 0.4%, reaching 112.5 points, marking 14 con secutive months of expansion.

to a significant drop in motor vehicle sales, which plummeted by 19.4%. Amid steady economic conditions, Malaysia’s inflation remained stable at 1.7% in January 2025, holding steady at the same rate recorded in December 2024. Malaysia’s trade sector continued to expand in early 2025, supported by resilient export and import performances. In January, total trade grew by 3.1% year-on-year to RM241.9 billion, reflecting sustained demand across key industries. Export growth re mained positive, rising to RM122.8 billion, a modest increase of 0.3%. However, despite the year-on-year expansion, trade activity moderated on a month-to-month basis. Compared to transport sector by offering fleet partners and driver-partners access to EVs at competitive rates. Grab Malaysia country operations and mobility director Rashid Shukor said, “As a leading platform for on-demand trans portation and delivery services, Grab is committed to reducing our environmental impact while creating positive social outcomes. Through this collaboration, we are not only supporting Malaysia’s sustainability agenda but also empowering our driver partners with access to greener alternatives.” Deputy Investment, Trade and Industry Minister Liew Chin Tong who was present at

Despite the annual growth, the index registered a monthly decline of 1.2% as most components weakened. Additionally, the smoothed LI remained below 100.0 points, reflecting cautious economic prospects while global challenges continue to exert pressure on Malaysia’s economic outlook. Grab Malaysia in tie-ups to push EV adoption among driver-partners

the MoU signing, said, “Today’s MoUs represents a significant step in Malaysia’s green mobility journey. Through government policies and agenda such as the National Energy Transition Roadmap and New Industrial Master Plan 2030, the government has introduced tax incentives and other forms of facilitation to support EV adoption. At the same time, the transition to EVs relies on strong collaboration between the government and private sector. Grab Malaysia’s commitment today, together with its partners, exemplifies this synergy. This partnership reflects our shared vision for a more sustainable future.”