Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (June 29): Permodalan Nasional Bhd (PNB) chairman Tan Sri Abdul Wahid Omar, who today confirmed his departure from the state-owned asset manager tomorrow, said he plans to rest for a bit and spend time with his family.

“After 17 years of national service (by working) with government-linked corporations (GLCs), starting with UEM-Renong Group (2001-2004), Telekom Malaysia Bhd (2004-2008), Malayan Banking Bhd (2008-2013), PNB (2013-2016) and the federal government, I want take this opportunity to rest a little and spend some time with my family,” he said in a statement today.

Abdul Wahid, 54, said his resignation effective tomorrow, and former Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz’ assumption of duty on Sunday, ensures a smooth and orderly transition for the PNB board, while making sure investment matters and PNB operations are not affected.

His resignation follows a series of departure of top bosses from government bodies and government-linked corporations such as Bank Negara Malaysia and Telekom Malaysia Bhd.

Speculation over his departure from PNB, where he was appointed on Aug 1, 2016, may have its root in Abdul Wahid’s open letter supporting the goods and services tax (GST), published just two days before the 14th general election which was criticised by several quarters and particularly Council of Eminent head Tun Dr Daim Zainuddin.

Abdul Wahid wrote that Pakatan Harapan’s aim of abolishing GST would leave the government with three options that could hurt the economy.

These are higher income tax or the introdution of a new tax such as capital gains tax, reduction of spending, including development expenditure, and increasing the country’s fiscal deficit to 5%.

Today, Abdul Wahid congratulated Zeti who becomes PNB’s fourth chairman since its establishment in 1978.

“This is a continuation of tradition of PNB’s leadership which appoints reputable people and those with high integrity as heads. It started with (BNM’s second governor) Tun Ismail Mohamad Ali, followed by former Chief Secretary Tun Ahmad Sarji Abdul Hamid. As the third chairman, I am honoured to handover my duties to Zeti, where PNB’s finances and reputation remain strong as a national institution with integrity.

“I believe that Zeti, the board members and president and chief executive officer Datuk Abdul Rahman Ahmad would continue to steer PNB towards greater heights,” he added.

He also thanked his board members, management and PNB staff for their support and help throughout his service there, as well as chairmen, CEOs, and managements of PNB’s strategic companies.

“I do apologise for any mistakes or terse language (uttered) during my tenure,” said Abdul Wahid, adding he believes PNB could one day become a world-class investment firm under Zeti and Abdul Rahman’s leadership.

      Print
      Text Size
      Share