KUALA LUMPUR, April 1 (Bernama) -- Dagang NeXchange Bhd (DNeX) has lodged an Islamic notes programme of up to RM3.0 billion in nominal value with the Securities Commission Malaysia (SC).
In a statement, DNeX said the programme comprises senior Islamic medium‑term notes (senior sukuk wakalah) and subordinated perpetual Islamic notes (perpetual sukuk wakalah), collectively known as the sukuk wakalah programme.
The programme is based on the Shariah principle of Wakalah Bi Al‑Istithmar and allows for the issuance of both senior and subordinated perpetual sukuk.
The programme also provides DNeX with the flexibility to issue sustainability- and/or sustainability‑linked sukuk in line with applicable local, regional and global guidelines/standards issued by the SC, the ASEAN Capital Markets Forum and the International Capital Market Association.
Group chief financial officer Vinie Chong Pui Ling said the sukuk wakalah programme gives DNeX greater flexibility to optimise its capital structure and cashflow management while supporting continued growth across its core businesses of semiconductor, information technology and energy.
DNeX said DNeX and its subsidiaries will use the sukuk proceeds for working capital, investments and capital expenditure.
“Where sustainability sukuk wakalah are issued, the proceeds will be allocated to eligible projects in line with DNeX’s sustainable finance framework, while sustainability-linked sukuk issuances will be aligned with the relevant requirements set out in the framework,” it said.
DNeX said RAM Rating Services Bhd has assigned ratings of A1/Stable for the senior sukuk wakalah and A3/Stable for the perpetual sukuk wakalah.
The ratings reflect the group’s diversified business profile and established presence in the semiconductor and information technology sectors.
RAM Sustainability Sdn Bhd has accorded a Gold Sustainable Finance Rating following its second-party opinion assessment of DNeX’s sustainable finance framework.
-- BERNAMA
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