UOB Malaysia successfully arranged EXSIM's RM300m IMTN

KUALA LUMPUR (March 31): UOB Malaysia announced on Thursday (March 31) that it had successfully priced and placed out property developer EXSIM's issuance of four-year RM300 million Islamic Medium Term Notes (IMTN) at a fixed profit rate of 5.1% per annum.

In a statement, UOB said the issuance is the third tranche of EXSIM’s RM2 billion Sukuk Musharakah Programme that monetises future earnings of the developer’s green residential development in the Klang Valley.

It added that the IMTN issuance had received a AA3/Stable rating by RAM Rating Services Bhd.

“We are proud to support EXSIM’s capital-raising exercise once again. The bank is committed to helping the company drive its environmental, social and governance (ESG) agenda of developing green and sustainable projects for homebuyers and to transitioning the country into a carbon-neutral economy. 

“Our support for EXSIM is part of the financing solutions we offer under the UOB Sustainable Finance Framework for Green Building Developers and Owners and the UOB Smart City Sustainable Finance Framework. 

“These frameworks were developed to help more Asian companies advance their businesses responsibly, while reducing their carbon footprint,” according to UOB Malaysia deputy chief executive officer Ng Wei Wei. 

“We are heartened by the growing demand among investors for debt instruments relating to sustainable development, such as green buildings, as this will drive more companies to embed ESG considerations into their business practices,“ she added.

Meanwhile, EXSIM managing director Lim Aik Hoe said the group is pleased to continue its collaboration with UOB for the issuance of the IMTN under the sukuk programme, which will help it deliver more value to its stakeholders in an environmentally-sustainable manner.

Established in 2008, EXSIM specialises in developing high-end residential, commercial and industrial real estate projects within the Klang Valley. To date, it has launched 29 developments with a total gross development value of RM12 billion, with another RM11.6 billion worth in the pipeline. 

Edited by Lam Jian Wyn

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