Permodalan Nasional Bhd acquires 30% remaining stake in PHNB

-A +A

KUALA LUMPUR (Jan 2): Permodalan Nasional Bhd (PNB) has acquired the remainder 30% stake it does not own in Pelaburan Hartanah Nasional Bhd, turning the 70%-owned subsidiary into its wholly-owned unit.

The acquisition involves the purchase of 300,000 shares from Malayan Banking Bhd on Dec 29, said PNB in a press release today, but did not disclose the price of the transaction.

PHNB is the manager of Amanah Harta Tanah PNB (AHP) and PNB Property Trust (PPT).

AHP, launched in 1989, is the first REIT or real estate investment trust in Malaysia, and has been listed on Bursa Malaysia since 1990. PPT is a private property trust that is wholly-owned by PNB.