PNB sold 90 High Holborn property

By ALIFAH ZAINUDDIN / Pic By TMR

Permodalan Nasional Bhd (PNB) has confirmed the sale of its Holborn property in London, says Group CEO Datuk Abdul Rahman Ahmad.

He however, declined to reveal the price of the transactions and who purchased the property.

“We will release the details soon. The buyer has requested for confidentiality at this point in time,” Abdul Rahmad said at a press briefing today.

90 High Holborn is located in Midtown, Central London. The building accommodates office, retail and basement car parks and is entirely leased out to OMD Services Limited, according to the fund’s website.

PNB purchased the property in early 2012 together with another asset, Milton & Shire Houses.

Last year in September, the fund denied it was forced to sell its London’s properties. Instead, PNB said then it could realise more than 20% per annum internal rate of return from capital appreciation, effective financing structure and forex gains. 

Meanwhile, the country’s largest fund manager declared dividends of 6.25 sen and 6.75 sen for its Amanah Saham Malaysia and Amanah Saham Bumiputera 2 funds respectively.

It also announced dividends of 4.80 sen, 5.20 sen and 5.15 sen per unit for its education, health and retirement funds under the Amanah Saham Gemilang scheme.

PNB group chairman Tan Sri Abdul Wahid Omar said the better payout was due to the commendable performance of its strategic companies last year.

The government-linked management firm’s assets under management grew by 4.8% on-year to RM279.2 billion from RM266.4 billion in the previous year.

Total number of units in circulation also increased by 3.5% to 219.7 billion in 2017, while total number of accounts expanded by 1.5% to 13.2 million.