Pelaburan Hartanah managing director and chief executive officer Mohamad Damshal Awang Damit.
PETALING JAYA: Property investment company Pelaburan Hartanah Bhd (PHB) has successfully debuted RM1.5bil of its RM5bil sukuk murabahah programmes.
According to the group, the issued sukuk comprises RM1.4bil in sustainability sukuk murabahah and RM100mil in sukuk murabahah, with tenures ranging from one to seven years, conducted through private placement and book building exercises.
In a statement, PHB group managing director and chief executive officer (CEO) Mohamad Damshal Awang Damit said the strong demand for the issuance reflects investor confidence in PHB’s financial strength and strategic role in realising the government’s mandate.
“The issuance of the RM5bil sukuk murabahah programmes is key in attaining PHB’s long-term goal of sustainable growth and reinforces our commitment to delivering value while adhering to shariah principles.
“The programme also provides essential capital to expand PHB’s syariah-compliant investment portfolio through future asset acquisitions, refinance existing borrowings and support future financing needs, while boosting bumiputra ownership in prime commercial real estate through Amanah Hartanah Bumiputra,” he said.
The issuance was oversubscribed by 2.2 times with a closing order book of about RM3bil. Its sustainability sukuk murabahah attracted strong demand from pension funds, insurance companies, asset managers and financial institutions. This resulted in an annual profit rate of 3.49% to 3.91%.
Proceeds from the sustainability issuances will be used to refinance eligible projects towards climate and environmental benefits, or measurable social improvements.
Affin Hwang Investment Bank Bhd is the sole principal adviser, lead arranger and sustainability sukuk advisor. It is also one of the joint lead managers, along with Bank Muamalat Malaysia Bhd, AmInvestment Bank Bhd and Bank Islam Malaysia Bhd.
