PHB in talks to buy properties
KUALA LUMPUR (April 10, 2012): Pelaburan Hartanah Bhd (PHB) plans to make some property acquisitions this year in line with its plan to source for new assets to be injected into its Amanah Hartanah Bumiputera Unit Trust Fund (AHB).
"It can be one, two or three properties, depending on what is available in the market. We're looking at all opportunities to acquire the assets, particularly office, retail, medical centres that can generate high yield and stable returns," managing director and CEO Datuk Kamalul Arifin Othman told a press conference after announcing the AHB income distribution here yesterday.
He said PHB is in the midst of evaluation and negotiation with vendors of several properties.
"To provide our investors with a good and consistent income stream, PHB is looking to buy more completed and income-yielding assets, expand our landbank and venture into more property development projects," he said.
Kamalul Arifin said PHB has eight prime assets valued at RM1.4 billion, which provided a gross rental income RM105 million per annum.
Its properties in the Klang Valley include the DEMC Specialist Hospital in Shah Alam, Block D of Peremba Square in Saujana Resort, Menara Bumiputra-Commerce in Jalan Raja Laut, CP Tower in Petaling Jaya, Wisma Consplant in Subang Jaya, Tesco Setia Alam, Menara Prisma in Putrajaya and Logistics Warehouse in Shah Alam.
The real estate investment holding company declared an income distribution of 3.25 sen a unit involving a total payment of RM32 million for its AHB unitholders for the six months ended March 31, 2012.
Last year, the income distribution was 5.42 sen a unit amounting to RM50 million.
By The Sun Daily