Kuala Lumpur:Permodalan Nasional Bhd (PNB) has expressed approval for the government's Budget 2027 plan to allocate 50 acres of prime commercial land in Kuala Lumpur to Yayasan Pelaburan Bumiputra, with PNB managing the asset.

According to BERNAMA News Agency, PNB's president and group chief executive Datuk Rizal Rickman Ramli described the endowment as the company's first new one since the 1980s. This move aligns with PNB's mission to bolster Bumiputera wealth and economic engagement.

Rizal stated that PNB plans to maintain the endowment's capital, reinvesting it to foster future growth while distributing profits for the benefit of its unitholders.

Additionally, PNB welcomed the decision to exempt entertainment duty for activities at Stadium Merdeka and Stadium Negara. Rizal noted that this exemption would encourage more public involvement in events at these venues, promoting their use and contributing to heritage conservation within the Merdeka 118 area.