PHB and MAM Declare Final Income Distribution for AHB

PHB and MAM Declare Final Income Distribution for AHB

Kuala Lumpur, 6 October 2021 – Pelaburan Hartanah Berhad (PHB), a subsidiary of Yayasan Amanah Hartanah Bumiputera (YAHB) and Maybank Asset Management Sdn. Bhd. (MAM) are pleased to announce the final income distribution of Amanah Hartanah Bumiputera (AHB) of 2.35 sen a unit for the financial year ended 30 September 2021. This consists of a basic income distribution of 2.15 sen a unit and a bonus distribution of 0.20 sen a unit. The bonus distribution is contributed by PHB, as the sponsor of AHB and is distributable for the first 500,000 units held by the unit holders.

Earlier in April 2021, PHB and MAM had announced AHB interim income distribution of 2.15 sen a unit with a bonus distribution of 0.20 sen a unit for the six-month period ended 31 March 2021. This brings the total income distribution to 4.70 sen a unit, or a total distribution of RM169.4 million for the 12-month period ended 30 September 2021.

On the latest development on AHB, Encik Ahmad Najib Nazlan, the MAM’s Chief Executive Officer, said “As economic activities start to recover, we want Malaysians to continue to save and invest for their future in order to achieve greater financial security and stability. As such, we are pleased to inform AHB unit holders that we are working towards introducing a re-investment scheme, particularly for the retail unit holders, whereby income distribution may be made wholly or partly in units. Through this scheme, income distribution will be reinvested and unit holders stand to benefit from the compounding effects. In addition, the re-investment scheme allows for automatic increase in unit holdings without the hassle of waiting for available units. This re-investment scheme, however, will not be introduced for the current distribution which will continue to be paid in cash”.

Meanwhile, Dato’ Mahmud Fauzi Muda, the Group Managing Director of PHB said, “This year has been a challenging year for the property market due to surge in the number of COVID-19 cases and the extension of the Movement Control Order (“MCO”). Despite the challenges, we are of the view that the 4.70 sen a unit net of zakat is still a competitive return”.

He added, “During this period, PHB has managed to maintain stable occupancy rates in its retail, industrial and healthcare assets. Although there were some decreases in occupancy rates in the office sector, it is reflective of the current declining market average. Since the beginning of the pandemic, PHB has allocated a total of RM49 million for our “Rental Relief Programme” to assist tenants who are severely impacted by the MCO since 2020. Assistance in the form of rental waiver and deferment were accorded to eligible tenants”.

He further said, “PHB has recently concluded the acquisition of an international educational institution located in Johor. We have also successfully completed a 300-bed private hospital in Kuala Lumpur, to be leased to KPJ Healthcare Berhad. Both properties raised our property portfolio by RM740 million and both are fully tenanted, which in turn will improve the overall average occupancy of our portfolio. We plan to inject these assets into AHB in the near future. We are also actively negotiating the acquisition of fully tenanted logistic warehouses as well as construction of build-to-suit warehouses and private hospitals to strengthen our position in the healthcare and industrial sector”.

“In the company’s property development track, the 41-storey 600,000 sf Plaza Conlay Tower 1 which is located in close proximity to the new Conlay MRT Station, off Jalan Tun Razak, Kuala Lumpur is now completed. PHB has also embarked on a RM520 million re-development of its existing warehouse in Shah Alam, increasing total built up of the logistic centre to 2.1 million sf which is expected to be completed by 2024. This warehouse is to be leased entirely to an international logistic company”, said Dato’ Mahmud Fauzi Muda.

AHB is a fixed-price shariah-compliant real estate backed unit trust fund. The minimum entry investment for individual investors is RM100. The Fund is designed to cater for investors looking for a platform that generates regular income and potentially consistent returns similar to saving opportunities.

The final income distribution of AHB is tax exempted and payable net of zakat, which will be credited directly into the unit holder’s bank accounts on 15 October 2021.

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