KUALA LUMPUR (Apr 1): Permodalan Nasional Bhd president and group chief executive Tan Sri Hamad Kama Piah Che Othman says he is “not aware” about media reports about PNB’s purchase of 1Malaysia Development Bhd (1MDB)’s islamic bonds.

As such, he refused to comment on the matter when asked by reporters today.

A local daily had reported on March 1 last year that the troubled strategic investment fund had issued RM1.5 billion worth of Islamic bonds, and that some of the buyers of the unrated bonds were PNB and pilgrim fund Lembaga Tabung Haji.

Hamad was speaking at a press conference held for PNB’s receipt of The Malaysia Book of Records certificate of recognition for PNB's Malaysian Unit Trust Week (MSAM) programme, which recognises the event as the "Longest Running Unit Trust Exhibition" in Malaysia.

Hamad also declined to confirm or deny the rumoured merger between SP Setia Bhd and Sime Darby Bhd's property business.

There has been persistent reports since late last year that the senior management of SP Setia (fundamental: 1.4; valuation: 1.2) had mooted for the property arm of Sime Darby (fundamental: 1; valuation: 0.9) to acquire the former. PNB is the major shareholder of both companies.

Hamad said he could not comment as the companies involved are listed on the exchange, but said that PNB is always on the lookout for opportunities to enhance the value of its investments.

Pressed if he was denying that such a merger was on the cards, Hamad said: "I don't deny nor confirm the rumour. What I said was that we are always looking to create value for our portfolio ... It does not necessarily concern only [SP Setia and Sime Darby]."

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)