Strong Investor Demand Drives Full Subscription Of Inaugural NECSA-I Energy Investment Note
KUALA LUMPUR, April 14 (Bernama) -- Neucu Capital Partners (M) Sdn Bhd (NCAP) has successfully facilitated the full subscription of the inaugural Renewable Energy Investment Note issued by NEC Suria Asset I Sdn Bhd (NECSA-I), an infrastructure special purpose vehicle under Nexgram Holdings Bhd.
NCAP said the full take-up of the first issuance reflects accelerating investor appetite for structured, asset-backed energy infrastructure exposures that offer predictable income profiles alongside long-term capital resilience.
“Structured in both conventional and shariah-compliant formats, the investment note will finance the deployment of integrated solar photovoltaic (PV) and energy storage system (ESS) infrastructure for commercial and industrial users under Malaysia’s Self-Consumption (SELCO) framework.
“The proceeds will be channelled into NEC Energy Systems, which delivers reliable 24/7 energy supply across factories, logistics hubs, and data centres through long-term Energy-as-a-Service (EaaS) agreements,” it said in a statement.
NCAP said these arrangements are structured to generate contracted and recurring revenue streams while enabling end-users to achieve meaningful cost savings and greater energy efficiency.
“NEC Energy Systems integrates Tier-1 solar PV technology with advanced battery storage and intelligent energy management software that continuously optimises consumption, reduces grid dependency, and maximises system output across each deployment site.
“This technology-driven approach underpins the predictability of cash flows that the investment note’s structure is designed to capture and distribute,” it said.
NCAP said the note offers a target profit rate of 12 per cent per annum with quarterly distributions over a 36-month tenure.
The structure incorporates asset-backed security supported by project assets and corporate backing, designed to provide visibility of cash flows and disciplined capital deployment through ring-fenced project arrangements, it added.
NCAP chief executive officer Asmi Haron said that capital is progressively shifting towards infrastructure assets that combine yield certainty with long-term strategic relevance.
“At NCAP, we focus on structuring capital solutions that unlock scalable infrastructure development.
“The successful closing of the NECSA-I issuance demonstrates how disciplined structuring and clear cash flow visibility can attract private capital into scalable infrastructure opportunities while accelerating
Malaysia’s energy transition,” he said.
Meanwhile, Nexgram Holdings executive director Henry Cheang said full subscription affirms market confidence in the underlying structure and approach adopted by NECSA-I.
“As a listed company, governance and transparency are foundational to everything we do. The asset-backed approach here gives investors real clarity on how their capital works, and that matters.
“Renewable energy fits naturally into where Nexgram is headed. We have always built around technology and intelligent infrastructure, and clean energy is a logical part of that story. This outcome tells us the market sees it the same way,” he added.
It said the NECSA platform is positioned to deploy up to RM500 million in renewable energy infrastructure assets over the next 12 months, focusing on high-demand commercial and industrial segments across industrial parks, logistics hubs, and data centres with strong and predictable energy consumption profiles.
Following the successful completion of the inaugural issuance, NCAP is preparing subsequent tranches to meet increasing investor interest, forming part of a broader and scalable pipeline of renewable infrastructure financing initiatives.
Nexgram Holdings is a publicly listed investment holding company based in Kuala Lumpur. The group’s diversified operations span telecommunications, digital infrastructure, healthcare, property development, hospitality, automotive, and investment platforms.
-- BERNAMA