KUALA LUMPUR (March 7): The merging of Pelaburan Hartanah Bhd (PHB) into the Bumiputera Investment Foundation (YPB) is underway, according to the Prime Minister’s Office (PMO).
The PMO said various prerequisite approvals for the merger are being sought from several parties, including the Companies Commission of Malaysia and the Ministry of Finance.
“The merger mechanism involves transferring PHB shares held by the Yayasan Amanah Hartanah Bumiputera to YPB,” it said in a written response published on the Parliament’s website on Thursday.
The PMO was replying to a question from Tan Sri Muhyiddin Yassin (PN-Pagoh) who inquired about the status and mechanism of the merger, as announced in Budget 2024 by Prime Minister Datuk Seri Anwar Ibrahim.
During the presentation of the budget, Anwar said Bumiputera investment entities such as PHB will be consolidated under YPB.
He added that the focus and coordination between agencies related to Bumiputera development will also be strengthened.
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Source: EdgeProp.my
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