KUALA LUMPUR – Danajamin Nasional Berhad (“Danajamin”) and 1 Warisan Sdn Bhd, a wholly owned subsidiary of Gema Padu Sdn Bhd (“Gema Padu”) today signed an Al-Kafalah guarantee facility agreement where the former will guarantee the latter’s RM170 million seven-year Islamic Securities programme. The financial guarantee provided by Danajamin will enable Gema Padu, primarily a property development company, to raise bonds to finance the construction of its property development projects in Sepang.
Dato’ Sri Abdul Hamidy Hafiz, Chairman of Danajamin said “We are pleased to provide the financial guarantee to Gema Padu, the first non public listed company in our portfolio. It is gratifying to have encouraged a non-traditional issuer with a viable project, to make its debut in the bond market, which is in line with our objective to catalyse the further development of the bond market.”
Gema Padu’s development project in Sepang, namely Kota Warisan (a mixed residential project), is strategically located near the Salak Tinggi ERL Transit Station and is easily accessible via a network of highway - the Maju Expressway, the LDP and Elite Highway. The Kota Warisan township will complement the development activities at KLIA, Cyberjaya and Putrajaya. As there is no residential component in the KLIA Master plan, Kota Warisan stands to benefit from the development at the KLIA, the most immediate being the construction of the Permanent LCCT (“KLIA 2”) . In addition, the affordable pricing of below RM300,000 per unit for majority of the properties, would be a great appeal to those working around Cyberjaya and Putrajaya area.
“Danajamin’s guarantee is a strong vote of confidence in our projects. We are pleased to have obtained the support from Danajamin, which will contribute towards the success of our projects, and allow our business to grow organically and exponentially” said Major (Rtd) Datuk Ng Bon Chong, the Chairman of Gema Padu.
The signing ceremony was jointly witnessed by TYT Yang Di-Pertua Negeri Melaka Tun Datuk Seri Utama Mohd Khalil Bin Yaakob, who was the guest of honour, and Dato’ Sri Abdul Hamidy. Signing the agreement on behalf of Gema Padu was Major (Rtd) Datuk Ng Bon Chong, while Danajamin was represented by its Chief Executive Officer, Encik Ahmad Zulqarnain Onn.
About Gema Padu Sdn Bhd
Gema Padu Sdn Bhd was incorporated on 17th January, 1992 as a private company limited company. The principalactivities of Gema Padu Sdn Bhd are property development, plantation operations, goat farming and civil construction and investment holding, whilst some of the activities carried out by its subsidiaries are sand mining, brick manufacturing and project management.
Gema Padu Sdn Bhd is the developer of Kota Warisan Township, a six hundred acre mixed development located strategically in between the KLIA and Putrajaya Corridor. The Kota Warisan Township was launched in 1999. Over the years, Gema Padu Sdn Bhd and its group has acquired some other land banks in the vicinity of Kota Warisan.
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.
Danajamin Nasional Berhad
Tel (03) 2299 2068, (012) 433 7718