KUALA LUMPUR: Pengurusan Air Selangor Sdn Bhd (Air Selangor) has been named winner of the Best Social Impact Deal 2026 award at the 16th Global Islamic Finance Awards (GIFA) in London, in recognition of its RM1.5bil Sukuk Kelestarian issuance.
This marks Air Selangor’s first-ever recognition at GIFA, one of the most prestigious accolades in the global Islamic banking and finance industry.
The RM1.5bil issuance, priced in October 2025, was Air Selangor's seventh and largest SRI Sukuk Kelestarian issuance to date, and the eighth issuance overall under its RM20bil Sukuk Murabahah Programme.
The transaction comprised five series of maturities ranging from seven to 25 years, providing long-term financing for eligible sustainable water infrastructure projects.
It attracted strong investor demand, drawing RM3.77bil in orders, an oversubscription rate of 2.51 times the amount issued from 41 investors across sovereign funds and financial institutions, and insurance companies.
Proceeds from the Sukuk Kelestarian are to be used to finance or refinance eligible projects under Air Selangor's Sustainable Development Sukuk Kelestarian Framework, including the Rasau Water Supply Scheme and pipe replacement programmes.
The successful issuance reflects strong market confidence in Air Selangor's credit strength, sustainability strategy and long-term investment programme.
By supporting investments in water treatment, transmission and distribution infrastructure, the Sukuk contributes to the continued delivery of safe and reliable treated water to households, educational institutions, healthcare facilities, businesses and industries. Reliable water services underpin public health, hygiene, community well-being and economic activity across Air Selangor's service areas.
The eligible projects also support the company's efforts to strengthen water supply reliability and infrastructure resilience across Selangor, Kuala Lumpur and Putrajaya, forming part of Air Selangor's RM35bil capital expenditure programme over 30 years to develop new water assets, upgrade existing infrastructure and improve operational efficiency.
Air Selangor chief executive officer Adam Saffian Ghazali said, “We are honoured by this recognition, which reflects our commitment to sustainable Islamic finance in strengthening water security and delivering long-term benefits to the communities we serve.
“Our RM1.5bil Sukuk Kelestarian supports critical water infrastructure and reliable services for over 9.6 million consumers, about a quarter of Malaysia's population.
“This achievement reaffirms our position as a credible, repeat SRI Sukuk issuer in Malaysia's sustainable Islamic capital market, with cumulative Sukuk Kelestarian issuances of RM5.83bil as at December 2025. We thank our stakeholders for their continued trust and partnership in advancing sustainable development."
Bank Islam Malaysia Bhd acted as principal adviser, lead arranger and Shariah adviser for the issuance. Bank Islam Malaysia Bhd, CIMB Investment Bank Bhd and Maybank Investment Bank Bhd acted as joint lead managers.
As at December 2025, Air Selangor's cumulative Sukuk Kelestarian issuances totalled RM5.83bil. The GIFA recognition reinforces Air Selangor's position as a trusted issuer in the Islamic capital market and demonstrates how Shariah-compliant capital can be mobilised to finance essential public infrastructure and support water security for 9.62 million consumers across Selangor, Kuala Lumpur and Putrajaya.
This award adds to a series of recent milestones for Air Selangor’s sustainable financing programme. In July 2026, Air Selangor revised its Sustainable Development Sukuk Kelestarian Framework to Version 2.0, expanding the eligible financing categories to support Blue, Green, Social and Sustainability Sukuk under a single platform; RAM Sustainability subsequently assigned the revised Framework a Platinum Sustainable Finance Rating. This paved the way for Air Selangor, together with CIMB Investment Bank Bhd, to also receive the Best SRI Sukuk – Water award on Aug 27 at The Asset Triple A Islamic Finance Awards 2026, for the same RM1.5bil Sukuk Kelestarian transaction.
Under this enhanced Framework, Air Selangor issued a RM200mil Blue SRI Sukuk Kelestarian, priced on July 27 and issued on Aug 3, recognised as the world's first Blue Sukuk and Malaysia's first Blue Bond/Sukuk issuance.
As Malaysia's largest water services provider, Air Selangor's capital programme includes ongoing investment in water supply and distribution infrastructure serving Selangor, Kuala Lumpur and Putrajaya.
GIFA founded in 2011 by Edbiz Corporation, is regarded as one of the most prestigious and comprehensive global awards programmes in Islamic banking and finance, recognising institutions, governments and individuals for their contributions to Shariah-compliant finance and social responsibility worldwide.
