BUMIS SHOULD OWN, INVEST IN PROPERTIES IN PRIME AREAS
These assets can bring higher returns, says Najib
THE Bumiputera community should own and invest more in prime and central properties to reap higher returns. Prime Minister Datuk Seri Najib Razak said one of the objectives of the Bumiputera Wellbeing Transformation Policy launched earlier was to encourage Bumiputera ownership of properties in strategic locations, especially in urban areas.
“Wealth creation should not only be measured in terms of shares but also property assets.
“This means that Bumiputeraowned assets must not only be in rural and suburban areas, but also in central and urban areas, so that higher returns could be enjoyed,” he said at the launch of Amanah Hartanah Bumiputera (AHB)’s additional 500 million units here yesterday.
Najib said the Bumiputera empowerment agenda should focus on the property ecosystem and part of its mechanism was the AHB scheme.
“I was told that the AHB scheme has been attractive due to its high returns that have been maintained at 6.2 per cent. The minimum investment has also been reduced to RM100 from RM500 to widen the participation base.
“We must ensure that the Bumiputera has a balanced position as the country progresses, and we want our wealth to be distributed fairly so that no ethnic group is marginalised.”
Najib also launched AHB’s “Akaun Remaja” campaign, which was meant for those aged as young as 3 months to 18, beginning on Monday.
“This scheme is to encourage the habit of saving and thinking ahead or long-term. In other words, we should not only look for instant gains.
“We must have the awareness to set aside a portion of our earnings for future endeavours, such as for our children’s tertiary education so we must encourage them to save up from young.”
Present were Second Finance Minister Datuk Seri Johari Abdul Ghani, Pelaburan Hartanah Bhd (PHB) chairman Tan Sri Md Nor Md Yusof and PHB group managing director/chief executive officer Datuk Kamalul Arifin Othman.
At a press conference later, Kamalul said AHB’s additional 500 million units were targeted at the younger generation.
“This year, our theme is ‘simpanlah’ (let’s save) instead of ‘laburlah’ (let’s invest) because ‘invest’ is a heavy word. This is to cultivate the culture of saving among the youth.
“Yayasan AHB will give 50 free units for each of the first 200,000 newly-opened accounts.
“Based on our performance last year, where 1.5 billion units were taken up in less than a year, we hope the new 500 million units will be taken up within the next five or six months,” he added.