Permodalan Nasional Bhd (PNB), the country's biggest fund management company, plans to develop next year its 7.2ha surrounding Merdeka Stadium and Stadium Negara in Kuala Lumpur.
Its president and group chief executive officer Tan Sri Hamad Kama Piah Che Othman said it will undertake mixed property projects that add value to the surrounding areas.
PNB had said earlier that it planned to develop the land into posh residential areas and business plazas at a gross development value of RM3 billion.
Hamad Kama Piah said that PNB was stepping up property development as earnings from its property arm provided an important source of revenue for the well-diversfied group.
"PNB will increase real estate investment to ensure it reaps commensurate returns," he told reporters after handing over Hari Raya goodies to seven organisations and orphanages from Selangor in Kuala Lumpur yesterday.
On Amanah Saham 1Malaysia (AS 1Malaysia), Hamad Kama Piah said that an estimated 2.4 billion units had been subscribed to date. More units of the fixed income fund are still available.
The fund, launched by Prime Minister Datuk Seri Najib Razak on July 31, offered 10 billion units for sale at RM1 each. It has the same features as Amanah Saham Wawasan 2020 and Amanah Saham Malaysia. - Bernama
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