KUALA LUMPUR: Sime Darby Property Bhd
’s (SimeProp) second real estate development fund, New Economy Venture (NEV), has launched a sukuk wakalah programme of up to RM2.6bil in nominal value via its subsidiary, SimeProp NEV (Holdings) Sdn Bhd.
The sukuk programme aims to enhance the group’s capital framework and develop new-economy assets, said the group in a statement.
The seven-year sukuk will finance SimeProp NEV’s development pipeline, which includes its two previously announced seed assets.
“The sukuk will represent the world’s first sukuk financing for data centre (DC) infrastructure.
“The programme was lodged with the Securities Commission (SC) under the Lodge and Launch Framework.
“The sukuk programme was established with participation from leading financial institutions, comprising Malaysia’s largest banking institutions and a leading multilateral development bank,” it stated.
Maybank Investment Bank Bhd is the sole principal adviser and sole lead arranger for the sukuk, while Maybank Islamic Bhd (Maybank IB) serves as the syariah adviser. Maybank IB and the Asian Development Bank (ADB) are the joint sustainability structuring advisers, while Maybank IB and OCBC Al-Amin Bank Bhd are the joint lead managers.
Meanwhile, Credit Guarantee & Investment Facility, a trust fund of ADB, is the financial guarantor for the guaranteed tranches of the sukuk, which will be subscribed by Bank Islam Malaysia Bhd.
Additionally, SimeProp’s NEV has introduced its Green Finance Framework, positioning it among the early adopters in the Asean region to undertake structured green finance impact evaluations, particularly for DC-led development portfolios.
The framework enables green sukuk issuances under the sukuk programme to align with recognised green finance standards, including the Asean Green Bond Standards by the Asean Capital Markets Forum and the Sustainable and Responsible Investment Sukuk Framework by the SC.
SimeProp group managing director and chief executive officer Datuk Seri Azmir Merican said that the capital framework positions the group to accelerate its development pipeline while strengthening its fund management capabilities under its SHIFT32 strategy.
“We remain focused on driving innovative financial solutions that strengthen our long-term operational resilience, unlock new growth opportunities, and reinforce our belief in being a force for good,” he said. — Bernama
