Pelaburan Hartanah Bhd aims to add prime commercial and high value properties

Pelaburan Hartanah Bhd aims to add prime commercial and high value properties

KUALA LUMPUR, April 7 — Pelaburan Hartanah Bhd (PHB), manager of Amanah Hartanah Bumiputera (AHB), plans to acquire more prime commercial properties and develop high-value commercial projects nationwide.

PHB group managing director and chief executive officer (CEO) Datuk Kamalul Arifin Othman said the aim was in line with its effort to increase the fund size of AHB from time to time, and provide opportunities to the Bumiputera community to participate in property investment.

“AHB was established to provide opportunities to Bumiputeras to enable them to join as well as invest and participate as beneficial owners of prime commercial properties in Malaysia via unit holdings in AHB,” he said at the launch of an additional 1.5 billion AHB units here, Thursday.

The launch was officiated by Prime Minister Datuk Seri Najib Tun Razak.

Kamalul Arifin said the additional AHB units were from revenue and development of five new assets, namely Menara 1 Sentrum and Nu Sentral Shopping Centre at Kuala Lumpur Sentral, The Shore Shopping Gallery Melaka, One Precinct Penang and Block B Gleneagles Kuala Lumpur.

With the addition, he said AHB’s total fund size would increase to 3.5 billion units, after having implemented two previous increases in fund size of 500 million in 2012 and 2013.

To-date, the total asset value of PHB stands at about RM7.6 billion.

Meanwhile, Maybank Asset Management Sdn Bhd, fund manager of AHB, expected the unit trust to be fully subscribed in six months.

Its CEO Badrul Hisyam Abu Bakar said this was based on the response received for additional units of AHB previously.

He said the current market condition also put AHB as an attractive investment instrument to investors with competitive return.

AHB is a Shariah-compliant unit trust launched on Nov 29, 2010 with a fund size of one billion units.

On April 5 this year, PHB announced AHB’s interim income distribution of 3.3 sen a unit for the six months ended March 31, 2016, payable to investors on April 15.

— BERNAMA

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