KUALA LUMPUR: NCT Group of Companies has launched its maiden RM1bil sukuk wakalah programme, with Maybank subscribing up to RM390mil in the first tranche.
The group also held a groundbreaking ceremony for Phase 2 of its NCT Smart Industrial Park (NSIP) in Selangor.
In a statement, the developer said the RM1bil sukuk wakalah programme was established to enhance funding flexibility, support working capital needs, and strengthen the group’s long-term growth strategy while expanding its access to the domestic debt market.
“We are delighted to work with Maybank as our valued partner in our sukuk wakalah programme, a key initiative that strengthens our financial foundation.
“The sukuk programme will provide us with greater flexibility to pursue new opportunities, driving us into the next phase of growth as we continue to deliver developments that generate sustainable value for our stakeholders,” NCT founder and group managing director Datuk Seri Yap Ngan Choy said.
The group appointed Maybank Investment Bank Bhd as the sole principal adviser and lead arranger for the Sukuk Wakalah programme, as well as the sole lead manager for the first tranche of the unrated sukuk.
Following the sukuk announcement, NCT Group held the groundbreaking ceremony for Phase 2 of its 732.5-acre NCT Smart NSIP in Selangor.
With a gross development value of RM2.5bil, Phase 2 reinforces the group’s commitment to advancing industrial transformation and economic growth in the state through developments anchored on innovation, digitalisation, and sustainability.
The new phase will build upon the success of Phase 1, featuring similar industrial components with larger plots and enhanced infrastructure to meet the evolving needs of high-technology, logistics, and manufacturing industries.
“Given the scale and expectations of this project, we are determined to ensure that each phase is completed well within its timeline as we continue to shape the nation’s industrial future.
“This next chapter brings us closer to realising a smart, sustainable, and globally competitive ecosystem that will elevate the sector,” Yap said.
