PM Anwar launches a billion more AHB units
KUALA LUMPUR, Oct 17 — Pelaburan Hartanah Berhad (PHB) announced a billion additional units of its Amanah Hartanah Bumiputera (AHB) today, which Prime Minister Datuk Seri Anwar Ibrahim launched and lauded as the ruling coalition’s commitment to raise Bumiputera wealth.
This marks the fifth increase since the AHB scheme was first launched in 2010 as a way to raise Bumiputera equity in commercial real estates. PHB owns several major commercial properties throughout the country, with assets worth some RM11 billion according to a statement provided by the investment firm.
“This is something very positive for Bumiputera development,” Anwar said in his launching speech.
The investment firm said the additional units announced today are from PHB’s recent asset injections, among them the KPJ Damansara 2 Specialist Hospital and Marlborough College in Iskandar Putri, Johor.
Today’s addition means there are 5 billion units for public subscription to date.
The additional units announced today are from recent asset injections, among them the KPJ Damansara 2 Specialist Hospital and Marlborough College in Iskandar Putri, Johor, the investment firm said today.
In total, 5 billion AHB units for public subscription have been offered to date. The ceiling threshold for subscription was also raised to a million from 500,000.
PHB said the new units would afford the Bumiputera a chance to invest and save for retirement in a post-pandemic era when savings have plunged as workers were forced to cope with the economic fallout.
"This initiative is also in line with the government's effort to encourage Malaysians, especially the Bumiputera, to reorganise and better manage their savings and finances," the company said.
"PHB's aspiration of supporting the Bumiputera agenda will be further advanced by providing more effective investment opportunities," said Tan Sri Ahmad Nizam Salleh, its chief executive officer.
Malaysia's tenth prime minister has vowed to safeguard Bumiputera economic interests while guaranteeing assistance for all low-income groups amid calls to dismantle race-based policies.
Anwar said previous governments have failed the ethnic majority by manipulating policies meant to assist the Bumiputera to enrich a small pool of Malay elites, usually through generous contracts awarded to crony companies.
Today, the Pakatan Harapan chairman praised PHB for what he described as exemplary of how government investment firms should drive the Bumiputera agenda.
"PHB should be commended. Not all Bumi government-investment funds that can be celebrated for their performance," he said.
