SCC upsizes sukuk programme to RM3.5 bln
KOTA KINABALU: Sabah Credit Corp (SCC) has launched its RM3.5 billion sukuk programme, upsized from RM1.5 billion.
Its chief executive officer, Datuk Vincent Pung, said the upsize would enable SCC to consolidate previous outstanding sukuk issuances into one programme.
“It would also provide funding for SCC to cater to its growth in the coming years,” he said during the programme launched by Sabah Chief Minister Datuk Seri Musa Aman yesterday.
Pung said Ambank Group would be SCC’s lead issuer of bonds.
Ambank Group chairman, Tan Sri Azman Hashim, said AmInvestment Bank would act as the investment advisor to SCC for the sukuk programme.
SCC also presented RM8 million in interim dividend to the state government at the function.
Musa, who is also the State Finance Minister, said SCC had shown steady financial performance over the years.
“Since 2002, it has declared over RM232 million in dividend to the state government.
“As the state minister in charge of SCC, I am pleased with SCC’s ability in taking up this upsizing measure (sukuk programme and the corporation’s prudent financial strategies and good management,” he said.
SCC has spent RM23.07 million to finance 128 corporate social responsibility programmes throughout Sabah, he said.
Musa complimented SCC in playing an active role in the state’s socioeconomic development.
In conjunction with the launch, SCC also introduced its new product “i-Cash”.
This is part of the corporation’s ongoing innovation of products providing greater flexibility for its clients to manage their financial needs.