October 18, 2013
The payout comprises of two income distribution of 3.25% each and a special bonus distribution of 1% per unit.
PETALING JAYA: Pelaburan Hartanah Bhd (PHB) and Maybank Asset Management Sdn Bhd announced a record 7.5% total income distribution for Shariah- compliant retail fund Amanah Hartanah Bumiputera (AHB) for the financial year ended Sept 30, 2013.
The payout, which comprised two income distribution of 3.25% each and a special bonus distribution of 1% per unit, marks the highest payout for AHB since the inception of the RM1 billion fund in November 2010.
“I hope the payment will motivate investors to keep their money for long-term and not treat AHB like ATM machines,” said PHB MD and CEO Kamalul Arifin Othman to the media in Kuala Lumpur yesterday.
Kamalul Arifin also announced that AHB fund size which was increased from RM1 billion to RM1.5 billion in 2012, has also been increased to two billion units to support the demand of investors, which currently stands at more than 51,000 people, willing to invest in AHB.
“The increased AHB fund size is supported by new injections of beneficial ownership of several newly acquired assets by PHB, namely Menara BT in Bangsar South, Menara SapuraKencana in Solaris Dutamas and Jaya 33 in Petaling Jaya, Selangor,” said Kamalul.
Kamalul said the additional fund is opened for subscription from now and he hopes that the size of the real estate backed AHB fund would be increased every year in line with rising demand.
Kamalul Arifin said PHB is in the process of increasing its landbank earmarked for property development from the existing 200 acres to about 1,000 acres before the end of the year.
Kamalul Arifin declined to disclose the location of the land purchase but said the location will be strategic within major cities in Malaysia.
“We remain focused on what we know best and that is property development,” said Kamalul Arifin.
Kamalul Arifin said properties under PHB management are providing good yield and enjoy an occupancy rate that exceeded 90%.
The number is higher than the average of 80% occupancy rate for the Klang Valley said by real estate consultancy company Knight Frank Ma l ays i a Sdn Bhd MD Sarkunan Subramaniam in late September.
PHB completed assets totalled 11 buildings which have a total value of approximately RM2.4 billion.
Maybank Asset Management is the manager of AHB and according to CEO Nor’ Azamin Salleh, AHB has paid a total of RM202.7 million to investors since inception.
For 2011, AHB paid 5.42% while in 2012 it was 6.5% and for 2013 it was the 7.5%.
Maybank Asset Management total asset under management as at Sept 30, 2013, was RM10.8 billion. In addition to AHB which is a retail fund, Maybank Asset Management manages three other Shariah- compliant funds which are wholesale.
PHB is a real estate investment holding company and wholly owned subsidiary of Yayasan Amanah Hartanah Bumiputera.