StanChart Saadiq Malaysia CEO Bilai Parvaiz
KUALA LUMPUR: Standard Chartered Saadiq Malaysia has signed a US$110mil sustainability-linked commodity Murabaha structured financing with
Sunway Treasury Sukuk Sdn Bhd.
In a statement, the bank said the transaction is a landmark sustainability-linked commodity Murabaha structured financing in Asia’s real estate sector.
According to StanChart Saadiq Malaysia, it is unique due to its Shariah compliance and comes with the flexibility of structured-rate financing and incorporates sustainability-linked features.
The sustainability-linked feature has been structured around two key performance indicators (KPIs) that reinforce Sunway Group’s environmental, social and governance (ESG) aspirations, including the uptake of renewable energy within their operations.
The facility will be used as part of Sunway Group’s working capital, overseas investments, and trade requirements, it added.
Sunway Group chief financial officer Joyce Tan Wei Tze said the group remains committed to sustainable development and hopes to strengthen its
reputation as a responsible corporate citizen by participating actively in ESG financing solutions.
StanChart Saadiq Malaysia CEO Bilai Parvaiz said its facility with Sunway Group is part of its commitment to supporting clients in accessing innovative sustainable finance solutions to meet the breadth of their ESG ambitions.
"The unique features of this facility are the use of structured rates and sustainability-linked features that correspond to environmental and social KPIs," he added.
