BUG #9531: Failed to install

The following bug has been logged on the website:

Bug reference: 9531
Logged by: Yong Zhang
Email address: yzhang(at)trinityusa(dot)com
PostgreSQL version: 9.3.3
Operating system: Windows 7 Ultimate SP1 64-bit
Description:

I failed to install 9.3.3.1, both 32-bit and 64-bit versions. I even tried
with switch "--enable_acledit 1". Got exactly the same result. I also tried
9.1 and 9.2. They are the same. In the log file I found:

Called IsVistaOrNewer()...
'winmgmts' object initialized...
Version:6.1
MajorVersion:6
Ensuring we can write to the data directory (using icacls) to yzhang:
Executing batch file 'rad3DB60.bat'...
processed file: C:\Program Files (x86)\PostgreSQL\9.3\data
Successfully processed 1 files; Failed processing 0 files

Executing batch file 'rad3DB60.bat'...
The files belonging to this database system will be owned by user
"yzhang".
This user must also own the server process.

The database cluster will be initialized with locale "English_United
States.1252".
The default text search configuration will be set to "english".

Data page checksums are disabled.

fixing permissions on existing directory C:/Program Files
(x86)/PostgreSQL/9.3/data ... initdb: could not change permissions of
directory "C:/Program Files (x86)/PostgreSQL/9.3/data": Permission denied

Called Die(Failed to initialise the database cluster with initdb)...
Failed to initialise the database cluster with initdb

Script stderr:
Program ended with an error exit code

Error running cscript //NoLogo "C:\Program Files
(x86)\PostgreSQL\9.3/installer/server/initcluster.vbs" "NT
AUTHORITY\NetworkService" "postgres" "****" "C:\Program Files
(x86)\PostgreSQL\9.3" "C:\Program Files (x86)\PostgreSQL\9.3\data" 5432
"English, United States" 1 : Program ended with an error exit code
Problem running post-install step. Installation may not complete correctly
The database cluster initialisation failed.