ARB HARTANAH SDN. BHD.
JOHAWAKI DEVELOPMENT SDN. BHD.
Petaling Jaya, Tuesday, 27 June 2006 – ARB Hartanah Sdn. Bhd. (ARBH) and Johawaki Development Sdn. Bhd. (JDSB) today signed a joint venture development agreement at Eastin Hotel, Petaling Jaya.
Through this joint venture, ARBH [a wholly owned subsidiary of Amanah Raya Berhad (AmanahRaya)] and JDSB will develop a 31.50 acres of land owned by Majlis Agama Islam Wilayah Persekutuan (MAIWP). The land, which is located at Taman Kepong Indah, Mukim Batu Daerah Kuala Lumpur will see a mixed development of terrace houses, condominiums, shop offices and a training institute known as Institut Kemahiran Baitulmal.
The approximate cost of the project is RM166, 000,000 and is scheduled to be completed by 2011. The institute which is valued at RM31, 500,000 will be handed over to MAIWP upon completion.
During his speech, the Chairman of AmanahRaya, Y.Bhg. Dato’ Haji Dusuki Ahmad said, “This joint venture underlines our commitment in supporting the governments call to assist the development of infrastructure in our country. We at AmanahRaya hope to continuously implement similar joint ventures in the future.”
Signing the joint venture agreement on behalf of ARBH was Y.Bhg. Dato’ Ahmad Rodzi Pawanteh, Managing Director of AmanahRaya and signing on behalf of JDSB was Y.Bhg. Dato’ Johari Bin Mat, Chairman of Johawaki Development Sdn. Bhd. The entire ceremony was witnessed by Y.B. Dato’ Dr. Abdullah Bin Md Zin, Minister in the Prime Minister’s Department and Y.Bhg. Dato’ Haji Dusuki Ahmad.
About AMANAH RAYA BERHAD
Amanah Raya Berhad (ARB), the oldest and premier trust company in Malaysia, was formerly known as the Department of Public Trustee and Official Administrator when it first commenced operation on 1 May 1921. Subsequently, the Department was corporatized on 29 May 1995 and commenced its operation as Amanah Raya Berhad on 1 August 1995.
ARB offers Legacy Management services; Will-Writing, Custodianship and Execution; Legacy Management and Trustee services. Currently, ARB provides trustee services for 76 unit trust funds valued in excess of RM66 billion, Trustee services for bonds and other financial instruments and investment management. ARB’s customer-oriented products and services are available at 20 branches all over Malaysia.
ARB’s property arm, ARB Hartanah Sdn. Bhd. (ARBH), incorporated on 26 April 2001 is involved in the business of property management and development as well as Project Management Consultant. The company’s long term business plan includes government privatization projects, investment in commercial and residential properties, manufacturing of selected building materials, and investment in quarry activities.
Amanah Raya Capital Sdn. Bhd. (ARC) was incorporated on 30 May 2001 and is involved in Islamic financial services. It provides three business activities namely; personal financing Bay Al-Inah, Bai Ad-Dayn and offers Institutional Trust Account products for ARB.
On 28 September 2005, ARB acquired 70% in JMF Asset Management Sdn. Bhd. and established an entity known as Amanah-Raya-JMF Asset Management Sdn. Bhd. (ARJMF). The company provides services which includes single or multiple asset classes equity, fixed income, money market, and property as well as cash management, investment advisory and private equity. Currently ARJMF is managing over RM4.1 billion worth of funds.