BUILDING A DISTINCTIVE WORLD-CLASS …DOSSIER-8pp] PNB AR2017.pdf · UMW Holdings and UMW Oil & Gas ... 1990 2000 2010 2017 ... UMW O&G M’cap increase due to re-capitalisation exercise;

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


266.4 RM billion

2015


254.6 RM billion

2014


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

BUILDING A DISTINCTIVE WORLD-CLASS …DOSSIER-8pp] PNB AR2017.pdf · UMW Holdings and UMW Oil & Gas ... 1990 2000 2010 2017 ... UMW O&G M’cap increase due to re-capitalisation exercise;

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