BUILDING A DISTINCTIVE WORLD-CLASS …DOSSIER-8pp] PNB AR2017.pdf · UMW Holdings and UMW Oil & Gas...
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Transcript of BUILDING A DISTINCTIVE WORLD-CLASS …DOSSIER-8pp] PNB AR2017.pdf · UMW Holdings and UMW Oil & Gas...
B U I L D I N G A D I S T I N C T I V E
W O R L D - C L A S S I N V E S T M E N T H O U S E
2 0 1 7 A N N U A L R E P O R T H I G H L I G H T S
JAN APR
JUNJUL
SEP
DEC
Minggu Saham Amanah Malaysia in Temerloh, Pahang
Issuance of Harus fatwa by Penang State Mufti Office
Appointment of AmBank as ASNB Agent
Acquisition of SILK Highway
Issuance of Harus fatwa by
Selangor State Mufti Office
Successful ASNB System Migration
exercise
Completion of demerger between UMW Holdings and UMW Oil & Gas
Completion of demerger of Sime Darby and separate listings of
Sime Darby Plantation and Sime Darby Property
Completion of merger between S P Setia and I & P Group
Divestment of Santos Place, Brisbane
Completion of demerger between CCM and CCM Duopharma
Maybank becomes first Malaysian company to breach RM100 billion
market capitalisation
2017 WAS AN EVENTFUL YEAR FOR PNB, MARKING THE 1ST YEAR OF STRIVE-15 IMPLEMENTATION
2017
01
OCT NOVCompletion of UMW Oil & Gas recapitalisation
exercise
02
03 04
Proprietary 9.2%
UTFs 4.0%
y-o-y growth
PNB’S ASSETS UNDER MANAGEMENT GREW BY 4.8% Y-O-Y TO REACH RM279.2 BILLION
WITH ITS UNIT TRUST FUNDS REACHING MORE THAN 13 MILLION ACCOUNTS AND 219 BILLION UNITS
IN CIRCULATION
PNB GROUP RECORDED GROWTH OF 16.8% IN CONSOLIDATED COTERMINOUS PROFORMA NET
INCOME IN 2017 TO MORE THAN RM17 BILLION2017
Proprietary 43.9UTFs 235.3
RM billion279.2
2016
Proprietary 40.2UTFs 226.2
266.4 RM billion
2015
Proprietary 36.5UTFs 218.1
254.6 RM billion
2014
Proprietary 35.2UTFs 209.1
244.3 RM billion
1 Income figures based on proforma aggregate gross and net income respectively of PNB and its unit trust funds, adjusted to be coterminous according to year ended 31 December
2 Total Assets (Assets Under Management) based on proforma aggregate of PNB’s gross investment assets, the Value of Fund (before distribution) of the fixed price funds and the Net Asset Value (before distribution) of the variable price funds
3 Return on Assets = Net Income divided by monthly average total assets
191.8
12.2
2014
202.5
12.6
2015
211.6
13.0
2016
219.7
13.2
2017
Units in Circulation(billion units)
Number of Accounts(million)
2014(RM million)
2015(RM million)
2016 (RM million)
2017(RM million)
y-o-y growth
Gross Income 1 19,978 18,816 17,534 20,350 16.1%
Net Income 1 16,990 15,586 15,160 17,710 16.8%
Total Assets 2 244,335 254,608 266,412 279,232 4.8%
Return on Assets 3 7.1% 6.3% 6.0% 6.7% -
06
05 07
MAJOR INVESTOR IN BURSA MALAYSIA, INVESTING MORE THAN RM190 BILLION ACROSS MOST MAJOR LISTED MALAYSIAN CORPORATES
BULK OF ASSETS REMAIN INVESTED IN PUBLIC EQUITIES, WITH CASH BEING RE-ALLOCATED
INTO FIXED INCOME
…AND CONCENTRATED IN THE TRADING/SERVICES AND FINANCE SECTORS
* Strategic: Public listed companies where PNB holds a majority or controlling stake
** Core: Public listed companies where PNB has more than 10% shareholding or exposure of more than RM1 billion
*** Based on Market Value of PNB & UTFs as at 29 December 2017
Strategic Companies * Core Companies **
20162016
20172017
48% 52% 54% 21% 20% 18% 18%
55% 65% 58% 16% 15% 14% 13%
64% 65% 51% 12% 11%
10%
10%
10%
10%
9%55% 10%
RM198.9 billion ***
Investment in Bursa10.4%
RM1,906.8 billionBursa Malaysia
Total Market Capitalisation as at 29 December 2017
PlantationsIndustrial ProductsConsumer Products
Property / REITFinance
Trading / ServicesOthers
2.6% •4.3% •5.6% •6.9% •
30.2% •44.2% •
6.2% •
• 13.0%• 5.0%• 4.6%• 10.3%• 29.0%• 32.1%• 6.0%
Public Equity Private Investments
PropertyCash & Money Market
Fixed IncomeOthers
68.9% • 2.6% •3.2% •
20.4% •4.4% •0.5% •
• 70.5%• 1.9%• 2.9%• 18.6%• 5.8%• 0.3%
Note: Based on book value as at 31 DecemberNote: Based on book value as at 31 December
PETRONAS DAGANGAN BERHAD
PETRONAS GAS BERHAD
08
PNB’S 12 UNIT TRUST FUNDS MAINTAINED COMPETITIVE RETURNS PERFORMANCE IN 2017
09
RM14.6 BILLION WAS DISTRIBUTED TO UNIT
HOLDERS IN 2017, AMOUNTING TO A CUMULATIVE
DISTRIBUTION OF RM172.1 BILLION SINCE 1981
Amanah Saham Bumiputera 2
Amanah Saham Malaysia
Amanah Saham Didik
Amanah Saham Wawasan 2020
Amanah Saham 1Malaysia
Amanah Saham Bumiputera
Financial Year End (FYE) 31 Mar 31 Mar 30 Jun 31 Aug 30 Sep 31 Dec
Distribution (sen per unit) 6.50 6.00 6.00 6.00 6.00 7.00 +
0.25 + 1.00
Net income (RM million) 392.2 1,064.8 240.9 1,157.3 724.1 10,153.0
Units in circulation FYE (billion units) 7.4 17.3 5.5 19.0 12.1 145.9
Amanah Saham Gemilang-Pendidikan
Amanah Saham Gemilang-Kesihatan
Amanah Saham Gemilang-Persaraan
Amanah Saham Nasional 2
Amanah Saham Nasional 3 Imbang
Amanah Saham Nasional
Financial Year End (FYE) 31 Mar 31 Mar 31 Mar 30 Jun 30 Nov 31 Dec
Distribution (sen per unit) 4.50 4.25 5.15 3.10 5.00 3.65
Total return (%) 6.4 4.2 4.8 11.9 6.1 18.3
Net income (RM million) 36.3 42.9 14.1 45.4 55.7 69.1
Units in circulation FYE (billion units) 0.9 1.7 0.5 1.5 1.3 1.9
Annual Income Distribution Payout(RM billion)
2014 2015 2016 2017
14.014.2
13.9
14.6
Cumulative Income Distribution (RM billion)
1990 2000 2010 2017
6.7 32.9 81.3 172.1
12 STRIVE-15 INITIATIVES FOCUSING ON ENHANCING SUSTAINABLE RETURNS, UNDER THE 1ST STRATEGIC PILLAR, MADE GOOD PROGRESS
Strategic Pillar I
EnhancingSustainable Returns
Optimise Asset Allocation
Boosting Domestic Public Equity Performance
Rationalise and Enhance Property Investments
Increase Exposure in Private Equity and Fixed Income
Diversify into Global Assets
03
0402
0501
10
STRONG INCOME GROWTH DRIVEN BY IMPROVED PUBLIC EQUITY, PRIVATE INVESTMENTS & PROPERTY RETURNS
11
PNB ALSO CONTINUED TO DELIVER ON ITS SOCIAL OBJECTIVES IN 2017
Group Gross Yields by Asset ClassEducation
PNB Chartered Accountant
Initiative
505 candidates to date
1,000Bumiputera chartered accountants by 2022
Global & Local Scholarships
1,803 current scholars
3,303 scholars since inception
EmployabilitySkim Latihan
1MalaysiaMore than 460
participants trained
More than 1,700 participants since
inception
Financial Literacy
2017 SINCE INCEPTION
208,000 visitors
(Temerloh, Pahang)
3.6 million visitors
85,836 participants
649,272 participants
12,000 visitors
(Putrajaya)
22,000 visitors
201,799 participants
1.25 million participants
Affordable Homes
6.9%
8.0%
Public Equity
12.5%
18.2%
Private Investments
7.4%
9.3%Property
4.1%
3.8%Cash
6.5%
5.3%
Fixed Income
2016 2017 Pilot projects in Sg Sedu & Port Dickson
5,000 affordable homes by 2022
Boosting Domestic Public Equity Performance
13
PNB REBALANCED ITS ASSET ALLOCATION, SHIFTING SOME OF ITS CASH INTO PRIVATE INVESTMENTS AND
FIXED INCOME
15
PNB ENHANCED ITS PROPERTYPORTFOLIO THROUGH CONSOLIDATION OF
ASSETS AND JUDICIOUS MONETISATION
14
PNB ALSO COMPLETED ALL TRANSFORMATION INITIATIVES TARGETED IN 2017, WITH TOTAL MARKET
VALUE IMPROVING BY RM39.5 BILLION
Strategic AssetAllocation Cash Fixed
IncomePrivate
Investments
Establishment of a centralised and dedicated Strategic Asset Allocation team
to develop optimised SAA targets for all
funds and asset classes
Cash portion of overall
portfolio reduced from 20.4% in 2016 to 18.6%
in 2017
Increased investment by
more than RM4 billion in order to boost
overall portfolio yield, whilst
supporting the domestic fixed income market
Acquisition of SILK Highway and internal
restructuring of PROLINTAS for
fast track listing
Sime Darby PurePlay Creation
UMW Group Demerger &
RecapitalisationCCM Demerger
Optimise Asset Allocation
Increase Exposure in Private Equity and Fixed Income
Rationalise and Enhance Property Investments
Acquisition of I & P Group by S P Setia for
RM3.65 billion - merger creates one of the largest
property companies in Malaysia
Acquisition of Seriemas Development for RM625 million by
PNB Development, PNB’s landbanking
entity
Monetisation of Santos Place,
Brisbane for AUD370 million
02 01
03
04
As at 29 December 2017
Price change
(%)TSR (%)
Increase in market
capitalisation (RM billion)
+ 19.5 + 26.7 + 21.9
+ 23.3 + 26.1 + 12.9
+ 27.8 + 38.5 + 3.2
+ 13.8 + 23.1 + 0.7
- 65.1 - 64.3 + 0.6
+ 79.4 + 82.4 - 0.1
+ 27.8 + 31.5 + 0.2
+ 16.2 + 16.2 + 0.1
+ 20.2 + 26.0 + 39.5
9.4% 13.2% 1,797/1,642
Weighted Average
KLCI
Note: Sime Darby based on simple aggregate of 3 pure plays; UMW O&G M’cap increase due to re-capitalisation exercise; CCM M’cap decrease due to share consolidation
D I S C L A I M E R
The Master Prospectus of funds of ASNB dated 30 June 2017 and First Supplementary Master Prospectus
dated 15 December 2017 (“Prospectus”), have been registered with the Securities Commission Malaysia. Before
investing, investors are advised to read and understand the content of the Prospectus together with the Product
Highlights Sheets which are available at any ASNB branches and agents. Units will be issued upon receipt of
the registration form referred to and accompanying the Prospectus. Before investing, kindly consider the fees
and charges involved. Unit prices and distribution payable, if any, may go down as well as up. Investors are
also advised to consider the inherent risk of investing in the funds and other general risk as elaborated in the
Prospectus. The past performance of a fund should not be taken as indicative of its future performance.
P E R M O D A L A N N A S I O N A L B E R H A D ( 3 8 2 1 8 - X )L E V E L 4 , M E N A R A P N B
2 0 1 - A , J A L A N T U N R A Z A K5 0 4 0 0 K U A L A L U M P U R
T 6 0 3 - 2 0 5 0 5 5 0 0
F 6 0 3 - 2 0 5 0 5 2 6 8
E P N B _ C O R P @ P N B . C O M . M Y
W W W W . P N B . C O M . M Y