KUALA LUMPUR, Nov 30 (Bernama) -- Danajamin Nasional Berhad (“Danajamin”), the country’s first Financial Guarantee Insurer, today announced that it is guaranteeing a 34-year RM500.0 million Sukuk Murabahah Programme (“Sukuk”) issued by Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd (“PLSUKE”), a wholly owned subsidiary of Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) which is in turn the wholly owned subsidiary of Permodalan Nasional Berhad.
 
PLSUKE is undertaking the design, construction, operations, maintenance, toll collection and financing of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) under a concession agreement with the Government of Malaysia (“GOM”). The Sukuk Murabahah Programme is part of a debt programme of RM 4.2 billion where the funds raised from the Sukuk Murabahah programme will be used primarily to part finance the SUKE project, a 24.4km three-lane dual carriageway expressway which connects Sri Petaling at the southern Klang Valley and Ulu Kelang at the northern Klang Valley. 
 
The said Sukuk is rated AAA by Malaysian Rating Corporation Berhad (MARC), as a result of the backing of an irrevocable and unconditional Kafalah Guarantee provided by Danajamin. The first issuance was successfully issued and fully-subscribed today.
 
According to Mohamed Nazri Omar, Chief Executive Officer of Danajamin, “Since its inception, Danajamin has undertaken a number of notable transactions across various industries. This guarantee marks another involvement by Danajamin in providing financing solutions for construction of infrastructure facilities. We take pride in supporting projects such as SUKE, which upon completion will further improve accessibility and the nation’s economic development. This is in line with our continuous commitment to find innovative ways to bring developmental and economic impact to Malaysia.”
 
“SUKE will be a crucial component of the Klang Valley’s urban road network and is expected to provide the transportation infrastructure that will support a growing population and urbanisation.” said Dato’ Mohammad Azlan Abdullah, PROLINTAS’ Group Chief Executive Officer.
 
For the past 8 years Danajamin has brought a total of 18 first-time bond/sukuk issuers into the market and has provided its guarantee for bond/sukuk programmes issued by a total of 32 viable Malaysian corporations across various sectors. To date Danajamin has brought about a market impact of approximately RM16 billion.
 
For more information about Danajamin, its services as well as its leadership, kindly visit www.danajamin.com 

Source : Danajamin Nasional Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Roselaini Faiz 
Director, Human Capital & Communications 
Tel : (03) 2265 0840 
Email : roselaini@danajamin.com 

Name : Emilia Azyyati Abdul Rahman 
Head, Communications  
Tel : (03) 2265 0847 
Email : emilia@danajamin.com

--BERNAMA