PHNB now wholly owned by PNB

The move was made after PNB acquired remaining 30% stake from Maybank Banking Bhd (Maybank) last month.

KUALA LUMPUR: Pelaburan Hartanah Nasional Bhd (PHNB) is now wholly owned by Permodalan Nasional Bhd (PNB) after PNB acquired the remaining 30% stake from Malayan Banking Bhd (Maybank) last month.

In a statement today, PNB said the purchase of the remaining 300,000 ordinary shares held by Maybank was completed on December 29.

“With this development, PNB now holds 100% of PHNB’s overall issued and paid-up capital,” it said.

PHNB manages Amanah Harta Tanah PNB (AHP) and PNB Property Trust (PPT), it said. PNB said AHP, the country’s first real estate investment trust (REIT), was launched in 1989 and listed on Bursa Malaysia since 1990, while PPT is a private REIT wholly owned by PNB.

- BERNAMA