Kuala lumpur: Sime Darby Property Bhd's New Economy Venture (NEV) platform, Sime Darby Property NEV (Holdings) Sdn Bhd (SDP NEV), has initiated a sukuk programme valued at up to RM2.6 billion. This programme is designed to finance the development of build-to-suit-to-lease data centres, as well as industrial and logistics assets.
According to BERNAMA News Agency, in a joint statement released by Sime Darby Property, the Asian Development Bank (ADB), Credit Guarantee and Investment Facility (CGIF), Maybank Investment Bank Bhd (Maybank IB), and OCBC Al-Amin Bank Bhd, SDP NEV will issue the green sukuk to partially finance the development of hyperscale data centres at Elmina Business Park. Sime Darby Property is set to design, construct, and complete this development by 2027.
The statement further explained that the proceeds of the sukuk programme will also support the development of a build-to-suit distribution warehouse, which will include advanced automated storage and retrieval systems located in the City of Elmina. Notably, this green sukuk is the first of its kind globally for a data centre and aligns with Malaysia's digital economy ambitions.
Additionally, the initiative positions Sime Darby Property as a leader in developing large-scale digital infrastructure for multinational technology companies, supporting the group's strategy to expand its recurring income and introduce innovative funding structures to one of Malaysia's rapidly growing economic sectors.
Maybank IB is serving as the principal adviser, lead arranger, and facility agent for the sukuk programme. Maybank IB and OCBC Al-Amin Bank Bhd are acting as joint lead managers, with CGIF as the financial guarantor for the guaranteed tranche. The transaction is further supported by Maybank IB and ADB acting as joint sustainability structuring advisers, Maybank Islamic Bhd as the shariah adviser, OCBC as the security agent, and MTrustee Bhd as the sukuk trustee.
In another development, Lagenda Properties Bhd has announced the subscription of the inaugural RM475 million sukuk wakalah under its RM1.5 billion sukuk programme. AmBank Group is the primary subscriber, committing RM400 million, marking Lagenda's first foray into Malaysia's Islamic debt capital market.
Lagenda Properties stated that the sukuk programme, established through its subsidiary Lagenda Capital Bhd and guaranteed by Lagenda Properties, aims to strengthen its capital structure and financial flexibility. The funds will be used for shariah-compliant purposes such as financing and refinancing investments, land acquisitions, capital expenditure, affordable housing projects, working capital, and general corporate purposes.
Datuk Jimmy Doh, managing director of Lagenda Properties, highlighted the significance of the inaugural sukuk programme in bolstering the group's capital foundation to expand its affordable housing developments nationwide. It provides financial flexibility by broadening access to Malaysia's Islamic capital market, supporting long-term growth through a diversified and efficient funding platform.
Christopher Yap, AmBank Group managing director of Business Banking, expressed the bank's honor in supporting Lagenda's sukuk programme as the primary subscriber and other roles. He noted that the milestone underscores confidence in Lagenda's strong fundamentals and long-term growth strategy, providing a robust funding platform for expansion while maintaining disciplined financial management.
AmInvestment Bank Bhd acted as joint principal adviser, joint lead arranger, joint lead manager, and facility agent for the sukuk programme.