KOTA KINABALU – Danajamin Nasional Berhad (“Danajamin”) yesterday sealed the agreement with Riverson Corporation Sdn Bhd (“Riverson”) to guarantee the latter’s RM200 million five-year Private Debt Securities programme. The bond programme has been rated AAA(fg) by Malaysian Rating Corporation Berhad (“MARC”).
The auspicious signing ceremony was witnessed by the Guest of Honour, The Right Honorable Chief Minister of Sabah, Datuk Seri Panglima Musa Haji Aman, accompanied by Dato’ Sri Abdul Hamidy Hafiz, Chairman of Danajamin and Mr Raymond Choong Yee How, President & CEO of Hong Leong Financial Group. The agreement was signed by Riverson’s Managing Director, Ben Kong and Executive Director, Beto Patrick, while Danajamin was represented by its Chief Executive Officer, Ahmad Zulqarnain Onn. Hong Leong Investment Bank is the lead arranger for the bond programme.
The Chief Minister of Sabah commended Danajamin and Hong Leong for their confidence in the various development projects in Sabah, in particular, the much needed medical centre facilities.
Danajamin is the nation’s first Financial Guarantee Insurer, established by the Government to be a catalyst to stimulate and further develop the domestic bond/sukuk market. Danajamin’s objective is to provide financial guarantee to bond/sukuk issuances, to help viable companies raise long term fixed rate funding from the bond market.
Dato’ Sri Abdul Hamidy Hafiz said that Danajamin is pleased to support a viable and significant project in Kota Kinabalu. With the financial guarantee, Riverson, a property development company, can now raise bonds to finance the construction of its mixed integrated commercial development project in Kota Kinabalu.
The proposed development consists of an International standard purpose built medical center that will be operated by Parkway Group under the name of Gleneagles Medical Centre, Kota Kinabalu. As part of its support facilities, office suites, SoHo and retail spaces would also be built under one roof.
According to Ben Kong, with the latest architectural design, and the aesthetically elevating lifestyle development, Riverson is about connection, relation and wellness. The uniqueness of the development allows boutique businesses to flourish and grow by providing reasonable sized retail, office space and SoHo units and other facilities to support the Gleneagles Medical Centre. This gives a whole new direction for the future property developments in Sabah.
The State Government’s participation in the medical center’s development through State investment arm Warisan Harta Sabah Sdn Bhd as the co-owner of the hospital building, also reinforces the State's commitment in providing better healthcare facility and services to its population. It also augurs well in making Sabah a vibrant medical tourism hub.
About Riverson Corporation Sdn Bhd
Riverson Corporation Sdn Bhd is incorporated as a dynamic and innovative property developer. The main focus of RiversonCorporation Sdn Bhd is to develop niche lifestyle developments that will contribute and benefit socially. The company’s current project is an integrated development comprised of finest in retail, leisure, entertainments and healthcare facilities. Moving forward, Riverson Corporation Sdn Bhd is committed to continue delivering quality, creative and of International standard, that will compliment the needs of valued customers in today’s property landscape.
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 bond/sukuk markets. Danajamin is wholly owned by the Malaysian Government and has a paid-up capital of RM1 billion with another RM1 billion callable capital. It has a capacity to underwrite policies of up to RM15 billion. Danajamin is licensed under the Insurance Act 1996, and is regulated and supervised by Bank Negara Malaysia.
Visit www.danajamin.com for more information.