GOVERNMENT-linked investment arm Permodalan Nasional Berhad (PNB) will not be involved in Putrajaya’s drive to sell off selected assets in order to reduce government debt, said Tony Pua, political secretary to finance minister Lim Guan Eng.

In a statement today, Pua corrected his statement last week naming PNB and fellow GLC Khazanah Nasional Berhad as two entities which will be reviewing their stakes to determine the value of selected non-core assets.

“I would like to make a clarification and correction to my statement above that any sale of our assets, if at all, would not involve the PNB,” said Pua, who is also Damansara MP.

“This is because, while PNB is an entity incorporated and managed by the government, the funds and investments by PNB belong to the unit holders and not the government.

“The unintended confusion which may have been caused, arising from the mistaken example provided is much regretted.”

Last Tuesday, Prime Minister Dr Mahathir Mohamed had announced in his keynote speech at the “Malaysia: A New Dawn” conference that the government may have to sell its valuable assets to pay off the national debt of RM1 trillion.

Pua had later said at the same conference that the move may involve the realisation of value of selected non-core assets held via entities such as Khazanah or PNB. – October 15, 2018.