1. INTRODUCTION

KLCC Property Holdings Berhad (“KLCCP”) is pleased to announce that its wholly-owned subsidiary, Suria KLCC Sdn Bhd (“Suria KLCC” or the “Issuer”) has upsized the Sukuk Murabahah Programme from RM600.0 million to RM2.0 billion in nominal value (“Upsizing of Sukuk Murabahah Programme”) and revised certain terms and conditions of the Sukuk Murabahah Programme (“Revision of Terms”). The Sukuk Murabahah Programme was established on 19 November 2014 with the first issuance of RM600.0 million Sukuk Murabahah under the Sukuk Murabahah Programme made on 31 December 2014 and matured on 31 December 2024 (“Outstanding Sukuk Murabahah”).

Lodgement with the Securities Commission Malaysia (“SC”) for the Upsizing of Sukuk Murabahah Programme along with a notification to the SC on the Revision of Terms have been made on 29 November 2024 pursuant to the Guidelines on Unlisted Capital Markets Products under the Lodge and Launch Framework first issued on 9 March 2015 and revised on 5 January 2024 (as may be amended from time to time). The Upsizing of Sukuk Murabahah Programme and the Revision of Terms have taken effect on 31 December 2024, after the maturity of the Outstanding Sukuk Murabahah and will be applicable in respect of the 2024 Sukuk Murabahah Issuance (as defined below) and such other subsequent issuances of Sukuk Murabahah under the Sukuk Murabahah Programme.

On 31 December 2024, Suria KLCC has successfully made an issuance of Sukuk Murabahah amounting to RM600.0 million in nominal value following the Upsizing of Sukuk Murabahah Programme and Revision of Terms (“2024 Sukuk Murabahah Issuance”).

2. DETAILS OF THE SUKUK MURABAHAH PROGRAMME

The Sukuk Murabahah Programme has a perpetual tenure and allows for the issuance of Sukuk Murabahah from time to time, provided that the aggregate outstanding nominal value of Sukuk Murabahah shall not exceed the upsized Sukuk Murabahah Programme’s size of RM2.0 billion at any one time. The Sukuk Murabahah Programme has been accorded a long-term rating of AAA by RAM Rating Services Bhd.

The proceeds raised from any issuances of Sukuk Murabahah shall be utilised by the Issuer for Shariah-compliant purposes comprising:

1. refinancing/payment of the Issuer’s existing borrowings/shareholders advances/Shariah-compliant financings; and/or
2. refinancing/payment of the Issuer’s future Shariah-compliant shareholders’ advances/Shariah-compliant financings; and/or
3. financing of immovable properties, working capital requirements, acquisitions, investments, capital expenditures; and/or
4. financing of general corporate purposes, including payment of the fees and expenses in relation to the Sukuk Murabahah.

3. ISSUANCE DETAILS

Key terms of the 2024 Sukuk Murabahah Issuance are as follow:-

1. Issue Size: RM600.0 million
2. Tenure of Issue: 10.5 years
3. Periodic Profit Rate: 4.00% per annum

The proceeds raised from the 2024 Sukuk Murabahah Issuance will be utilised by Suria KLCC to refinance the Outstanding Sukuk Murabahah.

4. ADVISERS

CIMB Investment Bank Berhad is the Sole Principal Adviser, Sole Lead Arranger and Sole Lead Manager for the Sukuk Murabahah Programme. CIMB Islamic Bank Berhad is the Sole Shariah Adviser for the Sukuk Murabahah Programme.

This announcement is dated 31 December 2024.