PHB and MAM Re-release 160 Million AHB Units for Subscription

PHB and MAM Re-release 160 Million AHB Units for Subscription

Kuala Lumpur, 11 March 2021 – Pelaburan Hartanah Berhad (PHB) and Maybank Asset Management Sdn. Bhd. (MAM) are pleased to announce that 160 million of Amanah Hartanah Bumiputera (AHB) units will be re-offered for subscription commencing next Monday,15 March 2021.

“We wish to announce that the 160 million units to be re-released are units that had been accumulated as a result of normal redemptions made by the unitholders for the past 1 year since March 2020. The last time we re-released the units was in February 2020 for 100 million units and were fully subscribed within 6 days. Since then, sales of AHB units had been closed, and all units redeemed by the unitholders had been accumulated and retained by PHB. We now re-offer these units to be subscribed by the Bumiputera public. However, the re-release of 160 million units will have no impact on the approved fund size of AHB, which remains at 4 billion units” said MAM’s Chief Executive Officer, Ahmad Najib Nazlan.

“Despite the COVID-19 pandemic period since March 2020, the redemption trend of AHB units is surprisingly lower than the pre-COVID-19 period. We believe it indicates a strong loyalty pattern whereby most unitholders continue to hold AHB units. As units are limited, the offer is on a first-come, first-serve basis and will be closed once fully subscribed. We encourage the public to visit our authorised distributors at their earliest before the units are fully subscribed”, added Ahmad Najib.

The AHB units can be subscribed at the authorised distributors, Maybank, AmBank Berhad and AmIslamic Bank Berhad’s branches.

PHB is the sponsor, and MAM is the fund manager of AHB.

-Ends-