Global Vision Logistics is establishing its maiden RM1.5 billion ASEAN Green Sustainable and Responsible Investment (SRI) SukukProgramme to fund its development of the Shah Alam International Logistics Hub which is set to be the first green-certified logistics hub in Malaysia and one of ASEAN’s largest.
The main provider of the fund is UOB Malaysia as the Principal Adviser, Lead Arranger, and Joint Lead Manager for the Sukuk Programme, while AmInvestment Bank is the Joint Lead Manager.
The Sukuk Programme was established under the Shariah principle of Murabahah, and based on the Securities Commission Malaysia’s SRI Sukuk Framework and the ASEAN Capital Markets Forum’s ASEAN Green Bond Standards. The first tranche comprising RM620 million unrated Islamic Medium-Term Notes will be issued in the second quarter of this year.
With intra ASEAN and China-ASEAN trade collectively valued at about US$1.3 trillion, the development of the logistics sector is critical to facilitate trade and ensure Malaysia’s competitiveness in the global supply chain. Mr Oh Kim Sun, Chairman of GVL, said, “Once the SAILH is completed, it will be one of the region’s largest logistic hub that enhances the supply chain for trade and commerce, and will improve the competitiveness of Malaysia’s logistics sector.”
The SAILH is strategically located on 71 acres of Shah Alam’s prime industrial estate and connected to land, sea and air transportation networks. The development is targeted to be completed in a few phases by 2028. Once completed, the SAILH will be one of the largest green-certified logistics hub in the region.
Oh said, “To achieve the green certifications, the SAILH incorporates sustainable features from the construction stage to the completion and operational stages. These include the use of low-carbon building materials during construction to the installation of solar panels, efficient water fittings and energy-efficient lightings, elevators and air-cooling systems.”
