KUALA LUMPUR, Oct 26 — Pelaburan Hartanah Bhd (PHB) will increase the Amanah Hartanah Bumiputera fund size to RM3 billion with the issuance of additional units worth at least RM1 billion next year.
Its Managing Director and Chief Executive Officer, Datuk Kamalul Arifin Othman said the new units would be launched by the first half of 2016.
“With the additional units worth at least of RM1 billion, the total fund size will reach RM3 billion,” he told Bernama after the launch of the Nu Sentral and Menara 1 Sentrum in KL Sentral here by Prime Minister Datuk Seri Najib Razak, Monday.
At a press conference earlier, Kamalul Arifin said AHB is a syariah compliant with quality real-estate backed trust fund.
“This investment enables Bumiputera investors to participate as beneficial owners of Malaysia’s real estate assets.
“AHB income distribution is tax-exempt and payable net of zakat, standby for launch next year,” he said.
The fund, with a fixed price of RM1.00 per unit, was launched in November 2010 and has since been paying six-monthly income distribution to its unit holders totalling RM374 million.
Its latest total income distribution for the full financial year ended Sept 30, 2015 was reportedly announced at 6.60 sen a unit.
On the proposed RM150 million incentive for PHB which was announced in the 2016 Budget 2016, Kamalul said it would be used to help strengthen Bumiputera equity ownership, entrepreneurship and businesses.