PHB attains highest AAA rating from RAM
KUALA LUMPUR: Pelaburan Hartanah Bhd (PHB), an operational arm of Yayasan Amanah Hartanah Bumiputera, has been conferred with the highest possible long- and shortterm corporate credit ratings of AAA and P1, respectively, from RAM Rating Services Bhd (RAM Ratings).
In a joint statement, PHB said the assigned ratings, accompanied by a stable outlook, reflect the company’s robust financial health in meeting its financial obligations, supported by its strategic role in carrying out the government’s mandate to increase Bumiputera ownership and participation in the commercial real estate sector.
PHB group managing director and chief executive officer (CEO) Mohamad Damshal Awang Damit said the company’s success stems from its acquisition of commercial real estate in strategic locations around Malaysia.
“This is achieved by maintaining financial discipline and balancing rapid expansion with prudent financial management, as seen in our robust balance sheet and optimal liquidity position, to carry out our mandate successfully,” he said.
Meanwhile, RAM Ratings CEO Awang Za’aba Awang Mahmud said PHB’s commendable credit standing demonstrates its dedication to transparency, enabling the company to expedite its expansion ambitions and provide diversification benefits to investors, while also helping to advance the Bumiputera economic well-being.
Since its incorporation in 2006, PHB has grown its real estate portfolio exponentially to RM11 billion as of endOctober 2023 and is on track to reach RM25 billion by 2030.
“PHB’s commitment to enabling ownership participation by the Bumiputera is realised through the injection of the beneficial ownerships of its real estate assets into the Shariah-compliant Amanah Hartanah Bumiputera (AHB) unit trust fund,” the statement said. — Bernama