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Permodalan Nasional names Raja Arshad as new group chairman

Permodalan Nasional names Raja Arshad as new group chairman

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Malaysian fund management company Permodalan Nasional (PNB) has named Raja Tan Sri Dato’ Seri Arshad Raja Tun Uda (pictured) as its new group chairman, effective from 1 June.

At the same time, he is also wearing other hats including the chairman of government-owned private equity company Ekuiti Nasional, Icon Offshore and Bumi Armada.

Prior to his new role, he was formerly a director of Maxis and Khazanah Nasional. Raja Arshad was also formerly the executive chairman of PricewaterhouseCoopers (PwC) Malaysia and chairman of the leadership team of PwC Asia 7.

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In his illustrious career, Raja Arshad has also been the chairman of the Malaysian Accounting Standards Board as well as Danamodal Nasional, one of the three special purpose vehicles set up by the government to manage the Asian Financial Crisis of 1997. 

“The Board and Warga PNB are pleased to welcome Raja Arshad to the PNB board, bringing with him extensive experience in the stewardship of companies and institutions. We look forward to his leadership as we execute our strategic plan to deliver on our mandate in enhancing the economic wealth of the Bumiputera community and all Malaysians,” said Ahmad Zulqarnain Onn, PNB's president and group chief executive.

A+M has reached out for more information on Raja Arshad's appointment. 

Earlier this month, PNB's Tun Arifin Zakaria stepped down as the group chairman of PNB and Trustee of Yayasan Pelaburan Bumiputra (YPB). He had been appointed as group chairman of PNB in 2021.

Most recently, the high level of pollution in rivers and streams has prompted PNM to carry out revitalisation through its social responsibility programme (TJSL). 

Management and representatives of PNM employees collaborated with the government to clean up the river as a form of flood mitigation. In addition, the participants also carried out greening on the banks of the river to prevent abrasion and landslides. 

Founded in 1978, PNB had been striving to become one of the leading financing institutions in Malaysia in enhancing added value for micro, small and medium enterprises (MSMEs) in a sustainable manner in accordance with the Good Corporate Governance (GCG) principles. 

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