KUALA LUMPUR, Dec 24 — Tan Sri Muhyiddin Yassin is confident that Pelaburan Hartanah Bhd (PHB) will continue to focus on shouldering the trust and mandate given to enhance the Bumiputera economic capability and wealth in commercial property ownership in the country.
The Prime Minister said PHB, which is the operating entity of Yayasan Hartanah Bumiputera (YAHB), is also entrusted to continue to facilitate Bumiputera’s participation in property investment through stable and competitive returns.
Muhyiddin, who is YAHB chairman, today chaired the Board of Trustees of YAHB online meeting, the first since his appointment as chairman on Oct 16.
“During the meeting, I was informed of YAHB’s annual performance where the main objective of its establishment was to drive affirmative action in the agenda of empowering the economy and stimulating Bumiputera ownership in commercial properties in Malaysia.
“I am satisfied with the performance of the Unit Amanah Hartanah Bumiputera (AHB) which achieved a net return after zakat (tithe) of 5.0 per cent this year despite the challenging market conditions. Since its launch in late 2010, AHB has distributed accumulated dividends of RM1.41 billion to 75,000 Bumiputera retail investors and 14 Bumiputera institutions,” he said in a post on his official Facebook page.
The meeting was held to discuss AHB’s overall performance and wealth distribution mechanism, as well as PHB.
Meanwhile, Muhyiddin also shared his joy when he was informed that a total of RM31.4 million has been allocated in 2020 to implement the ‘Rents Relief Programme’, aimed at helping tenants in PHB buildings during the Movement Control Order (MCO) period.
“To date, PHB has 23 buildings in strategic locations, consisting of office buildings, shopping malls, logistics warehouses and private hospitals on behalf of Bumiputera investors from all walks of life,” he said.
The meeting was also attended by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed, PHB chairman Tan Sri Md Nor Yusof, its group managing director, Datuk Mahmud Fauzi Muda, and its group chief financial officer, Mohd Fadzil Maruwan.