PHB and MAM Declare Interim Income Distribution of 2.35 sen a unit for AHB

AHB Declare Interim Income Distribution for the Six-Months Ended 31 March 2021

Kuala Lumpur, 6 April 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 interim income distribution of Amanah Hartanah Bumiputera (AHB) of 2.35 sen a unit for the six-month period ended 31 March 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 distributed for the first 500,000 units held by the unit holders.

“The market continued to be challenging for us for the past 1-year due to the on-going COVID-19 pandemic. For year 2020, PHB allocated a substantial sum for “Rent Relief Program” (RRP) to provide assistance to its affected tenants. PHB has provided an additional allocation for RRP in 2021. Due to limited resources, rental relief assistance had to be provided selectively to worst affected tenants. Despite the economic disruptions, we have so far managed to replace most of the tenants lost with new tenants”, said Dato’ Mahmud Fauzi Muda, the Managing Director of PHB.

“Moving forward, PHB is actively looking to acquire selected new assets, particularly in the industrial and healthcare sectors. The company’s property development track is also progressing well. Development of a new RM340 million 300-bed private hospital in Kuala Lumpur was completed in September 2020. PHB has also recently inked an agreement to develop a 2.0 million sf warehouse in Shah Alam at a cost of approximately RM0.5 billion which is to be entirely leased to an international logistic company. We are also actively negotiating development of new private hospitals in Selangor as well as in the East Coast. The new property assets will support introduction of new tranches of AHB Units in the near future”, added Dato’ Mahmud Fauzi.

On 15th March 2021, PHB and MAM re-offered 160 million AHB units for subscription to Bumiputera. This unit was accumulated as a result of normal redemptions made by unitholders over the past 1 year since March 2020. It also has no impact on the approved fund size of AHB, which remains at 4 billion units. In this respect, Encik Ahmad Najib Nazlan, MAM’s Chief Executive Officer said “The re-release of 160 million of AHB Units has been well received. We encourage customers to visit our distributors’ branches at Maybank, Ambank or Ambank Islamic before the re-release Units are fully subscribed.”

The interim income distribution of AHB is tax-exempt and payable net of zakat, which will be credited directly into the unit holder’s bank account on 15 April 2021.

-Ends-