Pelaburan Hartanah Berhad (PHB) has increased the fund size of Amanah Hartanah Bumiputera (AHB) by 500 million units to increase Bumiputera ownership of prime commercial properties, strategically located in central cities throughout Malaysia.
The additional units were launched in a ceremony graced by Datuk Seri Mohd Najib bin Tun Abdul Razak, Prime Minister of Malaysia who is also the Chairman of Yayasan Amanah Hartanah Bumiputera (YAHB), the parent company of PHB.
AHB is the first shariah-compliant unit trust fund backed by real estate in Malaysia and was launched in 2010. It was established to provide opportunity for Bumiputera investors to participate in owning prime commercial properties through their unit holdings in AHB.
AHB initial fund size was one billion units and it has been increased three times, in 2012, 2013 and 2016.
The event held at the Grand Hyatt Hotel, Kuala Lumpur last week was the launch of the fourth additional AHB units, bringing the total fund size to four billion units.
The addition of these new units is resulted from PHB’s recent asset injection, namely, Tower H, an 18-storey office building block located at Empire City, Petaling Jaya and Empire Shopping Gallery which is a five-storey shopping mall located in a mixed commercial development in Empire Subang. Hence, AHB is presently backed by 19 commercial properties made up by a diverse range of asset classes comprising office buildings, specialist hospitals, shopping malls and logistics warehouse.
Speaking at the event, Datuk Kamalul Arifin Othman, the Group Managing Director and Chief Executive Officer of PHB said, “Every PHB acquisition is an indirect factor to the addition of AHB fund size. Moving forward, we will continue to work on identifying opportunities to acquire more prime commercial properties and develop prime commercial projects throughout the country in order to provide AHB unit holders with competitive returns on their investments.”
The event also witnessed the announcement of two new promotional initiatives by AHB, which are its new commercial advertisement and Akaun Remaja promotional campaign.
The Akaun Remaja is a special account meant for those age from as young as three months, up to under 18 years. The promotion will commence from 1 October 2017 till 31 January 2018.
The campaign aims to encourage younger generations to save and invest. As an attraction, YAHB will give 50 additional free units for every new Akaun Remaja opened, subject to the terms and conditions.
One of the conditions is a minimum balance of 100 units should be maintained in the account for a period of three years.
An information tunnel on AHB is also available at the event for guests to have a better understanding on the fund.
Members of the public who are interested to subscribe may do so at any Maybank and Ambank branches throughout Malaysia. The minimum investment is RM100 per individual, while the maximum investment amount is RM500,000.