KUALA LUMPUR, June 29 — Permodalan Nasional Berhad (PNB) today confirmed Tan Sri Zeti Akhtar Aziz’s appointment as its new Group chairman effective July 1.

She will be replacing Tan Sri Abdul Wahid Omar, who will be retiring as the Group chairman of PNB and Trustee of Yayasan Pelaburan Bumiputera with effect from June 30, 2018.

The Board of PNB also announced that Datuk Awang Adek Hussin will be retiring as director of PNB and chairman of PNB Research Institute Sdn Bhd effective June 30, 2018.

"We also announce that Tan Sri Zeti will be appointed as the Group Chairman of PNB with effect from July 1, 2018.

"Tan Sri Zeti is presently one of the members of the Council of Eminent Persons, entrusted to advise the government on matters pertaining to economic and financial matters,” PNB said in a statement.

In the statement, PNB also announced the appointment of Prime Minister Tun Dr Mahathir Mohamad as the chairman of Yayasan Pelaburan Bumiputera (YPB).

The other trustees of YPB are Economic Affairs Minister Datuk Seri Amin Ali, Zeti and former Auditor-General Tan Sri Ambrin Buang.

PNB holds around RM180 billion in equity investments in Bursa Malaysia which translates to around 10 per cent of the market capitalisation of Bursa Malaysia.

Among its investee companies are Maybank, Sime Darby and UMW Holdings.