Global Vision Logistics sets up RM1.5bil Asean Green SRI sukuk programme

UOB Malaysia chief executive officer Ng Wei Wei (left) and GVL chairman Oh Kim Sun (right).

KUALA LUMPUR: Global Vision Logistics Sdn Bhd (GVL) has established its inaugural RM1.5 billion Asean Green Sustainable and Responsible Investment (SRI) Sukuk programme.

The programme would fund its development of the Shah Alam International Logistics Hub (SAILH), which will be the first green-certified logistics hub in the country and one of the largest in Asean, GVL and United Overseas Bank (M) Bhd (UOB Malaysia) said in a joint statement today.

"The sukuk programme was established under the shariah principle of Murabahah (via a Tawarruq arrangement) and based on the Securities Commission Malaysia’s SRI Sukuk Framework and the Asean Capital Markets Forum’s Asean Green Bond Standards.

"The first tranche comprising RM620 million unrated Islamic medium-term notes will be issued in the second quarter of this year,” the statement said.

UOB Malaysia is the principal adviser, lead arranger, and joint lead manager for the sukuk programme, while AmInvestment Bank Bhd is the joint lead manager.

UOB Malaysia chief executive officer Ng Wei Wei said with intra-Asean and China-Asean trade collectively valued at about US$1.3 trillion (US$1=RM4.48), the development of the logistics sector would be critical to facilitate trade and ensure Malaysia’s competitiveness in the global supply chain.

"We are pleased to be supporting the development of SAILH which is aligned with our net zero commitments while contributing to the country’s logistic industry growth,” she said.

GVL chairman Oh Kim Sun said the establishment of the Asean Green SRI Sukuk programme marks a significant milestone for GVL.

"Once SAILH is completed, it will be one of the region’s largest logistics hubs that enhances the supply chain for trade and commerce, and will improve the competitiveness of Malaysia’s logistics sector,” he said.

The statement said the hub is strategically located on 28.73 hectares of Shah Alam’s prime industrial estate and connected to land, sea and air transportation networks, while its development is targeted to be completed in phases by 2028.

"The logistics hub is expected to attain the local GreenRE silver rating and attain global recognition for the Excellence in Design for Greater Efficiencies (EDGE) Advanced and EDGE Zero Carbon.

"The standards and certification processes are aligned with the United Nations Sustainable Development Goals and the World Green Building Council’s commitment to developing buildings that produce as much (or more) energy than they consume or aim to achieve a net zero future,” it said. Bernama