ThxPORTAL - My OnlinE InvestmenT ProgresS

Pelaburan Hartanah Bhd (PHB), which declared an interim dividend distribution of RM32 million for its Amanah Hartanah Bumiputera (AHB) unit trust fund for the six-month period ended March 31, 2012, plans to expand the size of the fund.

PHB chief executive officer (CEO) and managing director (MD) Datuk Kamalul Arifin Othman said the fund is looking to buy more completed and income-yielding assets, as well as expanding its landbank and venturing into more property development projects.

“To further ensure the PHB’s portfolio remains up-to-date and competitive, sustained initiatives have been executed to actively acquire a more dynamic mix of properties,” said Kamalul Arifin in the press release. Yesterday, it declared the interim dividend distribution which amounts to 3.25 sen per unit.

This is the third income distribution to unit holders by AHB. Last year, a total of RM50 million was paid out — RM19 million on the first income distribution and RM31 million in the second.

AHB income distribution is payable on a six-monthly basis for periods ending March 31 and Sept 30, each year, and is tax-exempt.

One billion AHB units were launched in November 2010, and all were fully subscribed within three months, said PHB, with the highest take up in the Federal Territory (49.67%) followed by Selangor (14.51%).

To date, the fund has invested in eight completed properties in and around the Klang Valley, including the Darul Ehsan Medical Centre Specialist Hospital in Shah Alam, Selangor.

In October, PHB signed an agreement for a property development project with Gleneagles Hospital Kuala Lumpur, involving the extension of the hospital, at a cost of RM138 million.

Gleneagles will be granted a 15-year lease for the extension, with an option to extend the period for another 15 years.

The project is expected to be completed within three years.

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