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27 September 2010

Danajamin Guarantees MRCB Sentral Properties’ RM400 Million Bond Programme

Danajamin announced today that it is guaranteeing the seven-year RM400 million Private Debt Securities programme issued by MRCB Sentral Properties Sdn Bhd.

Funds raised to finance construction of KL Sentral Park

KUALA LUMPUR – Danajamin Nasional Berhad (“Danajamin”) announced today that it is guaranteeing the seven-year RM400 million Private Debt Securities programme issued by MRCB Sentral Properties Sdn Bhd (“MRCB Sentral”), a subsidiary of Malaysian Resources Corporation Berhad (“MRCB”). The first tranche of bonds amounting to RM80 million was issued today and fully subscribed. The bonds with a 3-year tenure, were issued at AAA (fg) rating.

MRCB Sentral, the issuer of the bonds, will be using the funds raised to finance the construction of KL Sentral Park, a mixed commercial development project located strategically in the KL Sentral transportation hub. With a gross development value (GDV) of RM586.5 million, KL Sentral Park will comprise office buildings, retail shops, and a multipurpose hall. KL Sentral Park is part of the KL Sentral mixed development project which is developed by MRCB.

Danajamin, the country’s Financial Guarantee Insurer, was established as part of the government’s efforts to ensure that corporations will continue to have access to funding to finance their businesses. Specifically, Danajamin provides financial guarantee, a credit enhancement, to bond/sukuk issuances to help companies raise long-term fixed rate financing from the bond/sukuk market at reasonable rates. The bond/sukuk market is an important alternative source of financing, as it complements the banking sector. Its continuous development is critical in ensuring that Malaysian companies have several funding sources to finance their business expansion and investments.

About Danajamin

Danajamin Nasional Berhad is Malaysia’s first Financial Guarantee Insurer.A AAA-rated company, Danajamin providesfinancial guarantee insurance to bonds and sukuk issuances to facilitate capital-raising by Malaysian companies from the debt capital markets. The establishment of Danajamin forms part of the Government’s on-going effort to ensure the continued flow of credit in the financial system to businesses. Danajamin is wholly owned by the Malaysian Government and has an issued and paid-up capital of RM1 billion with a capacity to underwrite policies of up to RM15 billion. It is licensed under the Insurance Act 1996, and is regulated and supervised by Bank Negara Malaysia.

Visit www.danajamin.com for more information.

Media Contact

Ann Lim
Head, Communications
Danajamin Nasional Berhad
Tel (03) 2299 2068, (012) 433 7718
Email: ann@danajamin.com

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