MIDF Investment hosts investor briefing for client’s proposed Sukuk programme
On 26 August 2022, MIDF Amanah Investment Bank Berhad (MIDF Investment) hosted an investors’ briefing at Menara MIDF for a proposed Islamic medium-term notes (Sukuk) programme of up to RM310,000,000.00 in nominal value under the shariah principle of Murabahah (via Tawarruq arrangement) (Sukuk Murabahah Programme) established by Ranhill Solar Ventures Sdn Bhd (RSV), a wholly owned subsidiary of Ranhill Utilities Berhad (Ranhill).
Proceeds from the Sukuk Murabahah Programme will be utilised, among others, to part finance the development and construction cost of Ranhill Solar I Sdn Bhd (RSI)’s 50 MWac large-scale solar photovoltaic energy generating facility in Batang Padang, Perak (RSI Solar Plant) and to finance the upgrading works of Ranhill Powertron Sdn Bhd (RPI)’s 190 MW combined cycle gas turbine power plant in Teluk Salut, Kota Kinabalu, Sabah (RPI CCGT Plant).
The investors’ briefing provided potential investors with background information on Ranhill and its group of companies, information and updates on the RSI Solar Plant and the RPI CCGT Plant, as well as the salient details of the Sukuk Murabahah Programme. The briefing was conducted by En. Amran Awaluddin, Executive Director and Chief Operating Officer of Ranhill, Mr. Choo Chee Keen, Chief Financial Officer of Ranhill, Mr. Poi Koon Hwee, Executive Director of ZJ Advisory Sdn Bhd, the Financial Adviser of RSV and Mr. Lee Ming Hao, Director/Team Lead of Debt Markets, MAIB. The event was also attended by Ms. Julie Gwee, Senior Director/Head of Debt Markets, MAIB.
MAIB has been appointed as the Principal Advisor, Lead Arranger, Joint Lead Manager, Facility Agent and Shariah Adviser for the Sukuk Murabahah Programme.
The investor briefing was attended by 44 representatives from pension funds, asset management companies, fund management companies, and insurance companies.
