KUALA LUMPUR, 26 April 2013 - Kenanga Investors Berhad (“Kenanga Investors”) has
been approved as a Private Retirement Scheme (“PRS”) Provider by the Securities
Commission today.
“We will be launching our PRS, known as OnePRS, to the mass retail market and also
employers as soon as we receive product approvals from the regulators. OnePRS will
enable participating organisations to enhance their employee remuneration package, and in turn, attract and retain talent,” commented Mr Chay Wai Leong, Group Managing Director, K & N Kenanga Holdings Berhad.
We are excited about OnePRS, and our own Kenanga Group will be participating in the Scheme for our employees to achieve additional retirement savings.”The approval by the Securities Commission is timely following Kenanga Investors’ completion of its acquisition of ING Funds Berhad last Friday.
PRS, a voluntary long-term investment scheme, is part of the Economic Transformation Programme to address the nation's need to ensure adequate savings among retirees. It is designed to complement the existing mandatory contributions made to the Employees Provident Fund.
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