PETALING JAYA: MBSB Bank Bhd has established a RM5 billion Sustainability Sukuk Wakalah Programme to finance its Shariah-compliant financing offerings dedicated to environmental, social, and governance, as well as green economy projects.
To facilitate the issuance, it has signed an agreement with Maybank Investment Bank Bhd, the sole principal adviser, sole lead arranger, sole lead manager, and sole sustainability structuring adviser.
Maybank Islamic Bhd is the Shariah adviser for the Sustainability Sukuk Wakalah Programme.
MBSB Bank acting CEO Datuk Nor Azam M Taib said the move allows the bank to continue growing its sustainable generating assets including financing in green, affordable, public health, education, small and medium enterprises, as well as those undeserved.
The sukuk will be issued in tranches with the first is expected to be launch in April this year.
“In term of size, it’s going to be between RM300 million and RM500 million,“ he said after the signing ceremony of the aggreement today.
On financial year 2021 (FY2021) performance, he said the group expects to see a better growth compared to FY2020.
“And to be specific, the fourth quarter (Q4) is better than Q3 of FY2021,“ he added.
MBSB slipped into a net loss of RM104.6 million in Q3 ended Sept 30, 2021 compared with a net profit of RM258.24 million a year before amid a modification loss and higher impairment allowance.
Revenue eased to RM681 million from RM765.6 million previously. – Bernama
