Sustainable sukuk programme accorded AA+ credit rating: Sime Darby Property Berhad

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Ara Damansara, 26 October 2020 – Sime Darby Property Berhad has been accorded with a credit rating of AA+ and a stable outlook by Malaysian Rating Corporation Berhad (MARC). The company has also amended its RM4.5 billion sukuk musharakah (profit-sharing bond) programme to incorporate terms for the potential issuance of the ASEAN Sustainable and Responsible Investment (SRI) Sukuk.

The RM4.5 billion sukuk musharakah programme was novated from the company as part of the restructuring exercise, with effect from 29 September 2017, following which it became unrated. The revisions to the principal terms and conditions of the programme were then resubmitted.

MARC had also assigned a Gold Sustainability Sukuk Assessment to the company’s sustainability sukuk framework, which sets out the guidelines for future projects. The company’s commitment towards sustainability included urban farming that empowers communities, construction of multi-generational homes, and energy-efficient urban housing with connectivity to nature.

The Group Managing Director, Dato’ Azmir Merican, said, “We are pleased to be making headway in setting up the platform for the issuance of ASEAN SRI Sukuk. This development exemplifies our commitment to the company’s corporate sustainability model, which captures and delivers on the ‘Three Ps’: people, planet and prosperity. This would further motivate our actions towards contributing to a better society, optimising environmental performance and delivering sustainable development.”

– Construction+ Online

Source: Sime Darby Property وان ایکس بت بت فوروارد