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26 Januari 2022

Danajamin Guarantees Kejuruteraan Asastera Bhd’s Sukuk Murabahah Programme’s First Tranche

Danajamin Nasional Berhad ("Danajamin") announced that it will guarantee Tranche 1 of KAB Energy Power Sdn Bhd's ("KABEP") inaugural issuance from the RM500.0 million Multi-Currency Islamic Medium Term Notes Programme ("Sukuk Murabahah Programme"). KABEP is a wholly owned subsidiary of Kejuruteraan Asastera Berhad (“KAB” or the “Group”).

KUALA LUMPUR – Danajamin Nasional Berhad ("Danajamin") announced that it will guarantee Tranche 1 of KAB Energy Power Sdn Bhd's ("KABEP") inaugural issuance from the RM500.0 million Multi-Currency Islamic Medium Term Notes Programme ("Sukuk Murabahah Programme"). KABEP is a wholly owned subsidiary of Kejuruteraan Asastera Berhad (“KAB” or the “Group”).

The proceeds from the issuance will propel KAB’s expansion into the renewable energy or green energy solutions segment. The Sukuk Murabahah Programme will help fund KAB’s future energy related ventures, greenfield projects and/or brownfield assets in Malaysia as well as across Asia, including Vietnam, Indonesia and India.

Commenting on the issuance, Mohamed Nazri Omar, Chief Executive Officer of Danajamin shared that, “We are pleased to begin 2022 by extending our support to KAB’s Sukuk Murabahah programme through our Financial Guarantee Insurance (FGI). We hope this will complement KAB's investment in this new initiative and provide added confidence to the programme's investors.”

“By encouraging energy efficiency initiatives, we want to continue playing a significant role in contributing to the nation’s economic sustainability and leave a positive impact in minimizing the environmental footprint. We hope to see more Malaysian companies participating in the green economy in the future.” said Mohamed Nazri Omar.

Dato’ Lai Keng Onn, the Managing Director of KAB said, “This marks a significant milestone for our Group and with the support from Danajamin and Public Investment Bank Berhad, we are delighted to see this deal through. Danajamin’s FGI for our Sukuk Murabahah Programme will bring us a step closer to realising the government’s aspiration in promoting green technology and sustainable energy initiatives in the private sector. This issuance has been earmarked for our growth and signifies our continuous effort towards value creation in the energy sector. We are actively looking out for greenfield projects and brownfield energy assets to invest in both locally and regionally, such as solar power generation, hydropower plants and biogas plants.”

Proceeds from the issuance will be used for a 2.2-megawatt waste heat recovery facility at Safran Landing System Malaysia Sdn Bhd, a leading French manufacturer of aircraft landing gear and braking systems globally. The waste heat recovery facility is located at Sendayan TechValley in Negeri Sembilan and is currently operational.

To date, Danajamin’s financial guarantees have assisted 44 issuances, with a total guarantee size of RM10.9 billion. The total market impact of these deals, through risk-sharing collaboration with partner banks, stands at RM23.2 billion. To know more about Danajamin’s facts and figures, please visit https://www.danajamin.com/investor/clients-issuances/snapshot/ 

For more information on Danajamin and its financial guarantee products, please visit https://www.danajamin.com/business/ ­

About Danajamin

Danajamin Nasional Berhad is Malaysia’s first and only Financial Guarantee Insurer. Established in May 2009, Danajamin’s objective is to ensure that financially viable corporates continue to be able to access the bond market for their long-term financing needs and at the same, be an enabler to further develop the domestic bond and Sukuk market.

To date, Danajamin’s guarantee has assisted 44 issuances across various sectors; and brought about a market impact of approximately RM23.2 billion through its risk sharing collaboration with partner banks.

Danajamin is ‘AAA’ rated by both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad. It is regulated and supervised by Bank Negara Malaysia under the Financial Services Act 2013. Danajamin is wholly owned by Bank Pembangunan Malaysia Berhad (“BPMB”).

Danajamin’s total assets and total shareholder’s equity stand at RM2.69 billion and RM1.9 billion respectively (as of 31 December 2021). For further information, please visit www.danajamin.com

From left: Dato’ Lai Keng Onn, Managing Director of KAB and Mohamed Nazri Omar, Chief Executive Officer (CEO) of Danajamin, at the signing ceremony held at Danajamin.
From left: Dato’ Lai Keng Onn, Managing Director of KAB and Mohamed Nazri Omar, Chief Executive Officer (CEO) of Danajamin, at the signing ceremony held at Danajamin.

Media Contact

Tevandran Manickam
Head, Communications
Tel (03) 2265 0847
Email: tevandran@danajamin.com

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