PUNB Aims To Increase Bumiputeras' Shares Of Properties, Especially among Entrepreneurs

Last update: 11/03/2018

MELAKA, March 11 (Bernama) -- PUNB Properties Sdn Bhd (PPSB), a subsidiary of Perbadanan Usahawan Nasional Bhd (PUNB), aims to increase the Bumiputeras' shares of properties, especially among entrepreneurs.

PUNB Chairman, Tan Sri Mohd Ali Rustam, said the company offered to sell or rent business premises to Bumiputera entrepreneurs at a much lower price than what the real estate agents offered.

He said in line with the initiative PUNB had purchased 235 units of business premises involving an allocation of RM268.90 million from 2008 to Jan 31, 2018.

"About 64 per cent of them have been rented out. Through this initiative, Bumiputera entrepreneurs have the opportunities to own their own shops/offices to expand their businesses," he told a news conference here today after opening PPSB's virtual office in Ayer Keroh here today.

Also present were PPSB's Chief Executive Officer Ismail A. Rahman and PUNB board member, Datuk Jamelah A. Bakar.

Mohd Ali said PPSB, set up on Sept 6 last year, has allocated RM45.7 million to buy more business premises at strategic locations throughout the country this year.

He said PPSB aimed to develop 54 properties in stages with an investment value of RM41 million.

"PPSB is currently implementing property development projects involving the cooperation of the Yayasan Dunia Melayu Islam World by developing 22 units of shop/offices in Bukit Katil here.

"We have chosen contractors and the construction process is expected to begin at the end of this month and is scheduled for completion within two years," he said.