‘Opportunity must be given for all to soar’

KUALA LUMPUR: Pelaburan Hartanah Bhd (PHB) has increased its Amanah Hartanah Bumiputera (AHB) units by an additional 500 million, bringing the fund size to four billion units.

Prime Minister Datuk Seri Najib Razak, in announcing this, said the increase was meant to boost Bumiputera ownership of prime commercial properties in strategic and central locations throughout the country.

Speaking at the launching ceremony here yesterday, he said the move was also in line with the bumiputera agenda empowerment, which was a part of the national agenda.

“In April, I launched the Bumiputera Wellbeing Transformation Policy so that we look at Bumiputera economic empowerment efforts in dimensions that are more holistic and comprehensive.

“If we, as a community, want economic progress, we must look at the whole ecosystem. And if we have any weaknesses in certain aspects, our performance will be jeopardised or hindered,” he said at the event here.

Najib, who is also Yayasan Amanah Hartanah Bumiputera (YAHB) chairman, said social mobility was part of the ecosystem.

“Regardless of socio-economic status, opportunity must be given for each individual to soar and succeed as much as possible, according to his or her capabilities and desires,” he said.

Present were Second Finance Minister Datuk Seri Johari Abdul Ghani , PHB chairman Tan Sri Md Nor Md Yusof and group managing director/chief executive officer Datuk Kamalul Arifin Othman.

On wealth generation, Najib said it should not only be measured based on shares, but also property. Launched in 2010, AHB is the first syariah-compliant unit trust fund backed by real estate in the country.

Its initial fund size was one billion units, and it has since been increased three times in 2012, 2013 and last year. It is presently backed by 19 commercial properties made up of different asset classes.