PERMODALAN Nasional Berhad (PNB) chief executive officer Abdul Rahman Ahmad is said to be leaving the government-linked investment fund, according to news reports.

The Edge said Abdul Rahman is heading to plantation conglomerate Sime Darby Berhad after he completes his three-year contract at the end of September.

Bloomberg, citing sources, said Abdul Rahman would be replaced by Jalil Rasheed, investment director at Invesco Asset Management Singapore Ltd.

Abdul Rahman came to PNB in 2016 from Ekuiti Nasional Berhad.

This will be its fourth major leadership change in three years, said The Edge.

It is also seen as the Pakatan Harapan government’s ongoing reshuffle at government-linked companies since it took over federal power last year.

PNB invests in about 10% of all market capitalisation on Bursa Malaysia and has stakes in several large Malaysian companies such as Sime Darby, Malayan Banking Berhad and UMW Holdings Berhad. – August 27, 2019.