KUALA LUMPUR, Pelaburan Hartanah Bhd (PHB) has appointed Raja Tan Sri Arshad Raja Tun Uda as its new independent non-executive chairman, effective Aug 16, 2024, following the retirement of Tan Sri Ahmad Nizam Salleh on Aug 1, 2024. In a statement today, PHB said Raja Arshad brings a wealth of experience to PHB, having held prominent positions across both the public and private sectors. 'He is currently the group chairman of Permodalan Nasional Bhd (PNB) and chairman of Bumi Armada Bhd. 'He is also a fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants, where he served on its council for 24 years, including three years as its president,' PHB said. PHB's group managing director/chief executive officer Mohamad Damshal Awang Damit said Raja Arshad's vast experience in corporate management and leadership will be crucial in helping PHB boost Bumiputera participation in own ing prime commercial real estate in Malaysia through the Amanah Hartanah Bumiputera (AHB) Shariah-compliant unit trust fund. PHB is the operating arm of Yayasan Amanah Hartanah Bumiputera (YAHB) and the sponsor of AHB. YAHB's board of trustees is chaired by Prime Minister, Datuk Seri Anwar Ibrahim. Source: BERNAMA News Agency