PHB Increases AHB Fund Size To 1.5 Billion Units
Much-awaited additional 500 million units of the Fund equivalent to RM500 million, accompanied by AHB's second 2012 income distribution announcement of 3.25 sen a unit
Kuala Lumpur, 24 October 2012 – Pelaburan Hartanah Berhad ("PHB") and Maybank Asset Management Sdn. Bhd. (formerly known as Mayban Investment Management Sdn. Bhd.) ("Maybank AM") today jointly announced Amanah Hartanah Bumiputera's ("AHB" or "the Fund") second 2012 income distribution of 3.25 sen a unit, which involved a total payment of approximately RM31 million to its AHB unit holders. This translates to an annualized income yield of 6.50 percent when benchmarked against the 12-month General Investment Account-i of Maybank Islamic Berhad.
AHB income distribution, if any, is payable on a six-monthly basis. The payouts are tax-exempted and are net-zakat contribution. The second payout for this year will be directly credited into unit holders' bank accounts on 25 October 2012. This is the fourth income distribution made by AHB to its unit holders since its inception in November 2010. Earlier this year, in April 2012, it announced the year's first interim income distribution of 3.25 sen a unit. With the latest income distribution, a total of RM62 million has been paid out to the unit holders for the year ended 30 September 2012.
The announcement was made by Encik Nor' Azamin Salleh - Managing Director ("MD") and Chief Executive Officer ("CEO") of Maybank AM. During the announcement he said, "Since its launch, AHB has maintained an annualised income yield of 6.50 percent. This is an affirmation of AHB's performance and its objective to providing investors with a regular and consistent income stream. With the current low interest rate environment, AHB remains a suitable investment option for Bumiputera participation in the beneficial ownership of prime commercial property in Malaysia. We believe that the demand of office space surrounding Klang Valley will remain resilient, in particular rental and occupancy rates for high grade office space at prime locations given the limited supply of such buildings. Furthermore, government initiatives to attract multinational companies to open their offices in the Klang Valley will continue to boost this sector for the next 2 years."
"AHB has received tremendous response since it was introduced in November 2010. It has remained fully subscribed and continues to receive enquiries at Maybank branches nationwide. This proves that the Fund is a real investment option amongst Bumiputera who may see it as an attractive opportunity to participate in the beneficial ownership of prime real estate backed assets through low minimum entry point, which offers competitive returns and comfort of investment in Shariah-compliant assets," Azamin added.
AHB Fund Increased
Following the announcement of the second AHB income distribution for 2012, Datuk Kamalul Arifin Othman - MD and CEO of PHB, made the much-awaited announcement of an increase in AHB's total fund size.
In his announcement, Datuk Kamalul said, "Earlier this year, we shared that PHB is looking at expanding the size of the Fund as part of its continuous effort to increase Bumiputera beneficial ownership in prime commercial real estate backed assets. Today, we are happy and proud to announce the addition of 500 million units into the Fund. This additional fund size will be injected and available for subscription from 24 October 2012 onwards." With the announcement, the Fund size is now increased to 1.5 billion units, which is equivalent to RM1.5 billion.
In addition to the increase in fund size, Datuk Kamalul also announced that the maximum investment entry has now been increased to RM400,000 (previously RM200,000), enabling investors to invest and reap more from AHB's investments. The minimum entry point for AHB remains at RM500.
"We are also pleased to announce that we have secured a collaboration with the Employees Provident Fund ("EPF"), which enables Bumiputeras to now invest in AHB not only through cash investments but also using their EPF savings at Maybank branches nationwide." Interested investors are advised to read and understand the contents of the AHB prospectus dated 24 October 2012 which has been registered with Securities Commission Malaysia and shall be available at all Maybank branches nationwide.
PHB Moves Into Its Next Phase
Since its inception, PHB has been prudently acquiring prime commercial real estates in major cities around Malaysia. To date, PHB has accumulated property assets worth RM1.5 billion.
PHB's list of completed assets includes Block A,B,D,E,F & G of Peremba Square, Menara Bumiputera-Commerce, CP Tower, Wisma Consplant, Logistic Warehouse Shah Alam, Menara Prisma Putrajaya, Tesco Setia Alam and DEMC Specialist Hospital.
PHB has also diversified its investment portfolio by venturing into property development at prime sought-after locations. Currently, PHB is working on Lot G Commercial Development at KL Sentral – an integrated development project, which consists of a 7-storey lifestyle retail mall and 32-storey office tower, as well as a new 10-floor extension building of Gleneagles Hospital Kuala Lumpur on Jalan Ampang. PHB is also gearing towards expanding its role in real estate investment and development by taking on a bigger role of master developer at a prime location in Bangsar.
"PHB has diligently worked to increase the involvement of Bumiputera's in prime real estate backed assets investments. We are happy to say that we have successfully completed the "Establishment Phase" and are now moving on to the "Expansion Phase", where we aim to further push the aspiration of the Government to boost Bumiputera ownership of prime commercial properties."
Datuk Kamalul elaborated that in the "Expansion Phase", PHB will be more active in seeking out viable properties to invest in or develop, to later be injected into AHB and consequently provide more opportunities for investors to be part of the country's fair and balanced wealth creation initiative.
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