RAM Sustainability assigns Gold3 Sustainability Rating to Pelaburan Hartanah Berhad

Published on 29 Apr 2024.

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RAM Sustainability has assigned a Gold3 (G3) Sustainability Rating to Pelaburan Hartanah Berhad (PHB or the Group). G3 is the entry level of the Gold rating category, which indicates a strong sustainability performance. 

Although an unlisted entity, the Group’s governance practices are strong, driving its sustainability performance. A majority of PHB’s board members are independent, board meetings are conducted regularly and the Group has board committees. A government-linked real estate investment holding company, the Group’s Enterprise Risk Management Framework and certification under the ISO 37001:2016 Anti-Bribery Management System show its commitment to structured risk management and anti-bribery measures. The recent establishment of a Sustainability Framework and G.R.E.E.N Policy also reflects a proactive approach to sustainability governance. 

PHB demonstrates adherence to good social practices, notably its dedication to Occupational Health and Safety, tenant satisfaction and human resource practices. The Group is certified under the ISO 45001:2018 Occupational Health and Safety Management System and ISO 9001:2015 Quality Management System standards. Merit-based appointments and anti-discrimination measures promote fairness and equality within its workforce. PHB’s commitment to community and social contribution, particularly education and marine support, reflects its broader societal impact. 

PHB has established a strong foundation for responsible environmental management through its ISO 14001:2015 Environmental Management System certification and its G.R.E.E.N policy. The Group aims to increase the share of green buildings in its portfolio to 50% from 28% in seven years, focusing on energy efficiency and carbon reduction. RAM Sustainability sees room for improvement especially in establishing a more comprehensive performance measurement for all properties (except single-tenant properties) in the Group’s portfolio, tracking Scope 3 carbon emissions, setting waste management targets, and incorporating environmental and social considerations into its supply chain management.

Established on 8 May 2006, PHB is wholly owned by Yayasan Amanah Hartanah Bumiputera (YAHB), which comes under the Prime Minister’s Department. With the primary mission of increasing bumiputera ownership of key commercial real estate assets in Malaysia, PHB manages Amanah Hartanah Bumiputera (AHB), a shariah-compliant unit trust fund allowing bumiputera unitholders to invest in commercial properties. This initiative positions PHB as a key player in enhancing bumiputera real estate ownership and delivering a positive socioeconomic impact in accordance with YAHB’s agenda. We believe the Group has the potential to improve the scale of its socioeconomic contribution to the bumiputera community in the long run. 

RAM Sustainability is a provider of sustainability services and Environment, Social and Governance (ESG) analytics. Incorporated on 31 May 2000, it is a wholly owned subsidiary of RAM Holdings Berhad. RAM Sustainability is the first ASEAN-based provider of ESG ratings and second opinions. It also has the distinction of being the first Registered Observer of the International Capital Market Association’s Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines in the ASEAN region. On 12 August 2020, we became an Approved Verifier for the certification of climate bonds under the Climate Bonds Standard & Certification Scheme, after having been awarded the status by the Climate Bonds Standards Board. For further details, see https://www.ram.com.my/sustainability.  


Analytical contacts
Cynthia Lim Sin Lu
(603) 3385 2549

Amirah Jamil
(603) 3385 2551

Media contact
Sakinah Arifin


Published by RAM Sustainability Sdn Bhd 
© Copyright 2024 by RAM Sustainability Sdn Bhd

Publication Date Published Category
Pelaburan Hartanah Berhad Sustainability Rating Report 29-Apr-2024 Sustainability Ratings View PDF