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RM1bil investment scheme to increase bumiputra equity

By ZUHRIN AZAM AHMAD
zuhrinazam@thestar.com.my

KUALA LUMPUR: The Amanah Hartanah Bumiputera (AHB) investment scheme launched by the Prime Minister will enable bumiputras to invest in all kinds of property including high-end ones.
The RM1bil scheme will not only increase bumiputra ownership of high-value assets, but also ensure permanent ownership, Datuk Seri Najib Tun Razak said yesterday.
Najib said the scheme was part of the Government’s initiative to ensure the national wealth was not concentrated in the hands of the elite.
Sealing the deal: Najib and his deputy, Tan Sri Muhyiddin Yassin, launching the property investment scheme in the presence of various bumiputra corporate leaders.
“We do not wish to see a widening gap between those with high income and the low-income earners,” he said when launching the scheme at the Sime Darby Convention Centre here.
The fund, announced during Budget 2011, is managed by Pelaburan Hartanah Bumiputera (PHB) and would enable bumiputras to participate in the ownership of real estate assets with a minimum entry investment of RM500.

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