Kuala Lumpur: Visionary Heritage Bhd (VHB), a special purpose vehicle sponsored by ISP Holding Sdn Bhd, has completed the inaugural issuance of the RM114 million ASEAN Green Sukuk Wakalah under its RM2 billion sustainability industrial asset-backed securitisation (ABS) sukuk wakalah programme. The issuance comprised both senior and junior tranches, with the senior tranche fully subscribed by Public Islamic Bank Bhd, signalling strong investor confidence in the underlying asset and sukuk structure, VHB said in a statement today.
According to BERNAMA News Agency, CIMB Investment Bank Bhd acted as the sole principal adviser, sole lead arranger, and lead manager for the transaction. VHB stated that proceeds from this green sukuk are being used to finance the acquisition of a prime industrial asset in Iskandar Puteri, Johor, a fast-growing logistics and industrial hub in southern Malaysia.
The property consists of seven factory units across six blocks, strategically located near major highways and surrounded by prominent industrial zones such as Nusa Cemerlang Industrial Park, Nusajaya Techpark, and the Southern Industrial and Logistics Clusters (SILC). Each block is designed with flexibility to be independently fenced, allowing secure multi-tenancy arrangements.
The asset is fully leased to a mix of established local companies, Chinese enterprises, and multinational corporations (MNCs), highlighting strong institutional demand for quality industrial space. “As regional demand for green financing continues to grow, ISP Group aims to scale its portfolio of sustainable industrial and logistics assets by leveraging the flexibility of the ABS sukuk wakalah structure. With this inaugural issuance, ISP is reinforcing its role in Malaysia’s industrial property sector, combining growth with sustainability at its core,” it said.
This successful first issuance under VHB marks a pivotal milestone in ISP’s broader capital markets roadmap, paving the way for future green sukuk issuances to support the group’s national expansion.