Samaiden Establishes Multi-Currency Sustainability Sukuk Wakalah Programmes of RM1.5 billion

Strategic Financial Initiative to Support Growth and Sustainability

PETALING JAYA, 18 JULY 2024 – Samaiden Group Berhad ("Samaiden"), a renewable energy (“RE”) specialist principally involved in engineering, procurement, construction, and commissioning (“EPCC”), along with assets investment of solar photovoltaic (“PV”) systems and other renewable energy plants, is pleased to announce the establishment of a multi-currency Islamic Medium Term Notes (IMTN) Programme of RM1.0 billion and a multi-currency Islamic Commercial Papers (ICP) Programme of RM500.0 million under the Shariah principle of Wakalah bi al-Istithmar (“the Programmes”).

The Programmes will allow Samaiden to issue both rated and unrated Islamic notes and papers, with the option for them to be secured or unsecured, with or without a financial guarantor. These financial instruments will support the Group’s capital expenditures, working capital, general corporate purposes, project investments, asset acquisitions, and refinancing of existing and future Shariah-compliant financings, and defraying all fees and expenses incidental to the programmes.

The IMTN Programme will have a tenure of 30 years, while the ICP Programme will have a tenure of 7 years from their respective first issuance dates. The Programmes will adhere to Samaiden’s Sustainability Sukuk Framework, which has been evaluated and accorded a Gold Sustainable Finance rating by RAM Sustainability Sdn Bhd.

Group Managing Director of Samaiden, Ir. Chow Pui Hee commented, “The Programmes provide us with the financial flexibility needed to support our upcoming projects and align with our commitment to sustainability and Shariah principles. Additionally, we offer attractive opportunities for Islamic investors to participate in sustainable and ethically aligned investments. The Board of Directors believes that these initiatives are in the best interest of the Company.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Lead Arranger, Lead Manager and Facility Agent for the Programmes.