KUALA LUMPUR – Amanah Saham Nasional Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), today announced an income distribution of 6.40 sen per unit for Amanah Saham 1Malaysia (AS1M) for the financial year ending Sept 30, 2015.
This translates into a payout of RM694.96 million, or 5.6 per cent higher than last year’s RM657.96 million, and is expected to benefit 395,036 unit holders who collectively own 10.9 billion units of AS1M, PNB Chairman Tun Ahmad Sarji Abdul Hamid said.
As of Sept 28, AS1M has recorded a gross income of RM813.57 million, he told reporters after the announcement of the AS1M income distribution here today.
Profit from the sale of shares contributed RM413.35 million or 53 per cent, while dividend income from investee companies contributed RM233.75 million or 28.7 per cent, and the remaining RM148.47 million or 18.3 per cent came from investments in short-term instruments and other income.
Meanwhile, PNB President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman said the 6.40 sen distribution per unit is lower than the 6.60 sen per unit in the same period last year.
“This is due to the current uncertain share market, although this distribution is still competitive when compared to its maiden payout of 6.38 sen per unit,” he added.
As of Sept 28, the FTSE Bursa Malaysia KLCI (FBM KLCI) had declined 12.9 per cent from 1,846.31 points recorded on Sept 30, 2014.
The fund had the capacity to distribute income at 6.90 sen per unit.
Asked on PNB’s plan for dealing with economic uncertainties, Hamad Kama Piah said the company had always been prepared with a long-term strategy.
“We might re-evaluate the current position to refill our undervalued stocks and add them to our portfolio. Our fundamentals are still strong, however, and we will try to accommodate these (undervalued stocks), and we believe that these stocks will get returns in the future,” he said, without disclosing the stocks.
The calculation of income distribution is based on the average monthly minimum balance held throughout AS1M’s financial year, he said.
The income distribution will be reinvested in the form of new units and will automatically be credited into unit holdersâ€™ accounts on Oct 1.
All transactions for AS1M at ASNB offices and through its agents have been suspended from Sept 24 to 30. Unit holders may update their accounts from Oct 1. – BERNAMA