Samaiden Launches RM1.5b Sustainability Sukuk for Renewable Energy Growth

Kuala Lumpur. Samaiden Group Berhad has launched an impressive RM1.5 billion multi-currency Sustainability Sukuk Wakalah program to advance its renewable energy initiatives. Structured under the shariah principle of Wakalah bi al-Istithmar, this significant financial move includes an RM1 billion Islamic Medium Term Notes (IMTN) program and an RM500 million Islamic Commercial Papers (ICP) program. This strategic initiative aims to provide Samaiden with the financial flexibility needed to support capital expenditures, project investments, and more, aligning with their commitment to sustainability and shariah principles.
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Supporting Renewable Energy Growth with Sustainability Sukuk

These sukuk programs will allow Samaiden to issue both rated and unrated Islamic notes and papers, either secured or unsecured, with or without financial guarantees. The proceeds are earmarked for various purposes, including capital expenditures, working capital, general corporate purposes, project investments, asset acquisitions, and refinancing of existing and future Shariah-compliant financings. Additionally, the funds will cover associated fees and expenses​ (Samaiden).

Financial Flexibility and Sustainability Commitment

“The programs provide us with the financial flexibility needed to support our upcoming projects and align with our commitment to sustainability and shariah principles,” stated Ir. Chow Pui Hee, Group Managing Director of Samaiprogram recent press release. She highlighted that these initiatives not only cater to the company’s growth but also present attractive opportunities for Islamic investors to engage in sustainable and ethically aligned investments.

Longevity and Strategic Program The IMTN program spans 30 years, while the ICP program runs programs years from their respective issuance dates. Both programs adhere to Samaiden’s Sustainability Sukuk Framework, which has been awarded a Gold Sustainable Finance rating by RAM Sustainability Sdn Bhd. This framework underscores Samaiden’s dedication to integrating sustainability into its financial and operational strategies.

Key AdvisorsShariah-compliantdence

Hong Leong Investment Bank Bhd serves as the principal adviser, lead arranger, lead manager, and facility agent for these programs. This program signifies a strong vote of confidence in Samaiden’s strategic direction and sustainability commitments from major financial players in the market​(SolarQuarter).

Driving Towards a Sustainable Future

Samaiden’s commitment to renewable energy and sustainable practices is further evidenced by its recent partnerships and projects. For instance, Samaiden has partnered with Maxell Tohshin to implement a cutting-edge solar PV system aimed at reducing carbon emissions by approximately 974.66 tonnes annually. This 20-year Power Purchaprograment underscores Samaiden’s long-term vision for sustainability and program energy​ (SolarQuarter). By introducing the RM1.5 billion Sustainability Sukuk Wakalah program, Samaiden Group Berhad is solidifying its position as a leader in the renewable energy sector while offering a robust platform for sustainable investments. This initiative not only supports the company’s ambitious renewable energy projects but also aligns with global trends towards green financing.

Furthermore, it highlights Malaysia’s dedication to advancing its renewable energy goals, positioning the nation as a key player in the sustainable finance landscape. Through these efforts, Samaiden is paving the way for a more sustainable future, attracting investors who are committed to ethical and environmentally friendly practices.

For more detailed information and up programs, Samaiden Group Berhad’s official website check out the latest reports on SolarQuarter.