Danajamin’s First Participation in ASEAN Green Socially Responsible Investment (“SRI”) Sukuk Programme
KUALA LUMPUR – Danajamin Nasional Berhad (“Danajamin”), the country’s first Financial Guarantee Insurer, today announced that it is guaranteeing Tranche 1 of the 20-year RM200 million Islamic Medium Term Notes Programme (“ASEAN Green SRI Sukuk”) issued by Pasukhas Green Assets Sdn Bhd (“PGASB”), a wholly owned subsidiary of Pasukhas Group Berhad (“Pasukhas”).
Tranche 1 of the ASEAN Green SRI Sukuk, for an amount of RM17 million with tenures of up to 10 years, is unrated and will be fully subscribed upon issuance. The proceeds from the issuance of the ASEAN Green SRI Sukuk will be utilised for Pasukhas’ hydropower plant in Sungai Rek, Kelantan and explore other renewable energy assets in Malaysia.
Mohamed Nazri Omar, Chief Executive Officer of Danajamin shared “Founded in 1985 as a Mechanical and Electrical contractor, we have seen Pasukhas evolved over the years into a onestop solution for mechanical and electrical engineering needs. They continue to seize growth opportunities by extending their business activities into multiple sectors such as water treatment, food industry, oil and gas as well as chemical industries.”
“We hope this issuance will continue to spur Pasukhas’ growth as they progress into the Renewable Energy segment. This new venture will simultaneously diversify the market with more SRI opportunities for investors.”
With the debut of the world’s first Green Sukuk in Malaysia back in July 2017, there have been approximately 6 Green Sukuk issuances that followed through. Danajamin will continue to support the growth of Green Sukuk in line with the Government’s initiative to strengthen the country’s position as the main catalyst for Syariah-compliant green instruments.
Wan Thean Hoe, Chief Executive Officer of Pasukhas said, “We appreciate the support and trust Danajamin have placed in us through their guarantee. This will be a stepping stone for Pasukhas to strengthen its energy business by venturing into more opportunities in the renewable energy segment.”
To date, Danajamin’s guarantees have assisted 38 issuances, with a total guarantee size of RM10.7 billion. The total market impact of these deals, through risk-sharing collaboration with partner banks, stands at RM21.2 billion.
For more information on Danajamin and its services, please visit www.danajamin.com
Danajamin Nasional Berhad (Danajamin) 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 time, be an enabler to further develop the domestic bond and sukuk market.
To date, Danajamin has provided its guarantee for bond/sukuk programmes issued by 36 companies across various sectors; and brought about a market impact of approximately RM20.7 billion through its
risk sharing collaboration with partner banks.
To date, Danajamin has provided its guarantee for bond/sukuk programmes issued by 36 companies across various sectors; and brought about a market impact of approximately RM20.7 billion through its risk sharing collaboration with partner banks.
Danajamin has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Financial Services Act 2013. Danajamin is equally owned by Minister of Finance Incorporated and Credit Guarantee Corporation Malaysia Berhad.
Today, Danajamin is well positioned to further enable the development of Malaysia’s capital market. Growing from strength to strength, Danajamin’s total assets and shareholders’ equity stands at RM2.7 billion and RM1.7 billion respectively (as at 31 December 2017).
Corporate Strategy & Communications
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