Wednesday, March 1, 2017

Malaysian REITs (Part 1: Amanah Harta Tanah PNB)

In Malaysia, there are 18 REITs listed in Bursa Malaysia (as of 10 February 2017) i.e. Amanah Harta Tanah PNB, Al-‘Aqar Healthcare REIT, Al-Salam REIT, AmFirst REIT, Amanahraya REIT, Atrium REIT, Axis REIT, Capital Land Malaysia Mall Trust, Hektar REIT, IGP REIT, KIP REIT, KLCC REIT, MRCB-Quill REIT, Pavilion REIT, Tower REIT, UOA REIT and YTL Hospitality REIT.


Malaysia’s REIT has lowest taxable rate on distribution income – a mere 10% withholding tax. Therefore, it sits very well with many investors compared to US, UK, Australia, Japan and Europe. Although Malaysian REITs are subject to a 10% withholding tax, some REITs do offer a small portion of the distribution which is tax-exempt in some (not all) quarters. Effectively, we have a distribution which is combination of a non-taxable and taxable portion.

Company Profile and Investment Portfolio of the Listed Malaysian REITs:
1.       Amanah Harta Tanah PNB (AHP, 4952)
Company Profile:
Amanah Harta Tanah PNB or AHP, is a Real Estate Investment Trust (REIT), constituted under a Deed dated 20 March 1989 (as amended), between the Manager, Pelaburan Hartanah Nasional Berhad, the Trustee, AmanahRaya Trustees Berhad and the several persons who acquire units in the Trust.

AHP was launched on 21 March 1989 and was listed on Bursa Malaysia Securities Berhad on 28 December 1990. The principal activity of AHP is investment in real estate and other authorized investments with the objectives of achieving steady returns and for long term capital growth.

Investment Objective:
The main investment objective of AHP is to provide reasonable level of income return to unit holders and allow them to gain from capital growth through the acquisition of a selected portfolio of real estate investments which have potential for long term capital growth.

Investment Policy and Strategy:
The investment policy of AHP is directed towards the expansion of the Trust to be carried out through continuous search of quality real estate which give reasonable yield and capital appreciation.

Category of Fund:
Real Estate and real estate-related assets.

Property Portfolio:
















Plaza VADS, Taman Tun Dr Ismail, Kuala Lumpur (24-storey office building with 4-storey podium block)















Bangunan AHP, Taman Tun Dr Ismail Kuala Lumpur (4-storey commercial building)















Sri Rampai, Taman Setiawangsa, Kuala Lumpur (4-storey office building)















Mydin Mall, Seremban 2, Negeri Sembilan (3-storey mall / hypermarket)

















Jalan Wan Kadir 4, Taman Tun Dr Ismail, Kuala Lumpur (3-storey shop office)

















Lot 224, Jalan Negara 2, Pusat Bandar Melawati, Kuala Lumpur (4-storey shop office)















Block G Asia City, Kota Kinabalu, Sabah (Ground and first floor)

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