On behalf of the Board of Directors of Sime Darby Property, Maybank Investment Bank Berhad (“Maybank IB”) is pleased to announce that Sime Darby Property has on 21 August 2023 successfully issued RM600.0 million in nominal value of Sukuk Musharakah (“Sukuk Issuance”) under the Sukuk Musharakah Programme. The Sukuk Musharakah Programme’s rating of AA+IS has been affirmed by MARC Ratings Berhad with a stable outlook.

The Sukuk Issuance is the second issuance under the Sukuk Musharakah Programme, which comprises the following:

The proceeds from the issuance of the Sukuk Musharakah shall be utilised to finance Sime Darby Property Group’s future investments and/or capital expenditure and/or the Sime Darby Property Group’s working capital requirements and general corporate purpose and/or, if required, to refinance debt obligations (whether in whole or in part) of Sime Darby Property Group. In any case, all utilisation of funds shall be Shariah compliant.

The proceeds from the issuance of the ASEAN Sustainability SRI Sukuk Musharakah shall be utilised for the purposes set out above provided that it shall meet the criteria as set out in Sime Darby Property’s Sustainability Sukuk Framework and the following guidelines or frameworks or standards, as amended from time to time under which such ASEAN Sustainability SRI Sukuk Musharakah are issued:

(a)        the Sustainable and Responsible Investment (“SRI”) Sukuk framework under the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015 (as amended from time to time) (“LOLA Guidelines”);

(b)        the ASEAN Green Bond Standards issued by the ASEAN Capital Markets Forum (“ACMF”) on November 2017;

(c)        the ASEAN Social Bond Standards issued by the ACMF on October 2018; and

(d)        the ASEAN Sustainability Bond Standards issued by the ACMF on October 2018.

Maybank IB is the sole Principal Adviser and Lead Arranger for the Sukuk Musharakah Programme. CIMB Investment Bank Berhad, Maybank IB and Public Investment Bank Berhad are the Joint Lead Managers for the Sukuk Issuance.

This announcement is dated 21 August 2023.