ADGSOM1 & ADGMIN1  
       
  LAUNCH OF THE 50TH ANNIVERSARY CELEBRATION OF RUKUN NEGARA  
       
  KL SUMMIT 2019  
       
  HAWANA 2018  
       
  AES 2016  
       

 
 
 

March 29, 2024 -Friday

 
  DANAJAMIN GUARANTEES LIQUIDITY SUPPORT FOR SKYWORLD

Friday 08/12/2017


From left to right : Mr Lam Soo Keong - Deputy Group Managing Director, SkyWorld Development Sdn Bhd; Mohamed Nazri Omar - Chief Executive Officer, Danajamin Nasional Berhad; Datuk Ng Thien Phing - Group Managing Director, SkyWorld Development Sdn Bhd; Mohd Amri Mohd Sofian - Chief Corporate and Investment Officer, Danajamin Nasional Berhad



KUALA LUMPUR, Dec 8 (Bernama) -- Danajamin Nasional Berhad (Danajamin), the country’s first Financial Guarantee Insurer, today announced that it is guaranteeing a credit enhancement facility for Tranche 1 of the 12-year RM600 million Sukuk Musharakah Islamic Medium Term Note (IMTN) Programme to be issued by SkyWorld Capital Berhad (Issuer), a sole-purpose vehicle wholly-owned by SkyWorld Development Sdn Bhd (SkyWorld). The credit enhancement facility is required in order for Tranche 1 of the IMTN to be accorded a AA3/Stable rating by RAM Rating Services Berhad in the Sukuk market.

This first issuance is made against the progress billings of the SkyAwani 1 development project in Sentul, which is the group’s first affordable housing project under the Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP) programme. The award-winning SkyAwani series has cemented its position as the must-owned starter homes for first-time home buyers – given its affordable price, practical layout and full-fledged condominium facilities. SkyAwani 1 Residences is also the first RUMAWIP affordable home that is in compliance with QLASSIC standards set by the Construction Industry Development Board Malaysia (“CIDB”).

Commenting on the SUKUK programme, Mohamed Nazri Omar, Chief Executive Officer of Danajamin said, “This guarantee is the first structured transaction in Malaysia to monetise progress billings of a property development project. We are pleased to play a role in helping property developers such as Skyworld Capital Berhad by providing partial or full guarantee for affordable housing projects.”

Datuk Ng Thien Phing, Founder & Group MD of SkyWorld opined that this is the first of its kind SUKUK programme in Malaysia and this transaction with Danajamin signalled a positive start for SkyWorld Development Group. “We have been growing from strength to strength. All our SkyAwani 1 and 2 recorded 100% take-up. All our current and future developments are location-centric – within Kuala Lumpur region. With over 130 acres of quality land banks totalling more than RM13 billion in gross development value, we are on the right track of transforming the city and unlocking our land value.”

The Financial Adviser for this transaction is NewParadigm Capital Markets Sdn Bhd, whilst the Lead Arranger and Lead Manager is United Overseas Bank (Malaysia) Bhd. 

For the past 8 years Danajamin has brought a total of 19 first-time bond/sukuk issuers into the market and has provided its guarantee for bond/sukuk programmes issued by a total of 34 viable Malaysian corporations across various sectors. To date Danajamin has brought about a market impact of approximately RM20 billion.

SOURCE  : Danajamin Nasional Berhad (Danajamin)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Roselaini Faiz 
Director, Human Capital & Communications 
Tel : (03) 2265 0840 
Email : roselaini@danajamin.com 

Name : Emilia Azyyati Abdul Rahman 
Head, Communications  
Tel : (03) 2265 0847 
Email : emilia@danajamin.com

--BERNAMA
 

 

 
 
 

Copyright © 2024 MREM . All rights reserved.