Kami Builders Sdn Bhd, a wholly owned subsidiary of Wawasan QI Properties Sdn Bhd under the QI Group, has successfully issued RM90 million in Tranche 1 SRI Sukuk Murabahah under its newly established RM300 million ASEAN Sustainability SRI Sukuk Programme.
The fund will be used directly into the development of a new university campus in Ipoh, Perak. The programme is structured on the Shariah principle of Murabahah via Tawarruq and carries a tenure of thirty (30) years with Tranche 1 maturing in five (5) years.
Public Investment Bank Berhad acted as the sole Principal Adviser, Lead Arranger, Lead Manager and Facility Agent for the Sukuk Programme, while Amanie Advisors Sdn Bhd served as the Shariah Adviser. The offering drew strong interest from institutional investors, including, asset managers and financial institutions.
Proceeds from this Sukuk issuance will finance the development and construction of Quest International University’s new campus, on a 10-acre site in Gunung Lang, Ipoh, Perak — an institution established in partnership with the Perak State Government, serving more than 2,000 students from over 40 countries. The investment directly supports Malaysia’s national
agenda of widening access to affordable quality tertiary education in the regions.
Tranche 1 SRI Sukuk Murabahah has been assigned a credit rating of AAA(s) by RAM Ratings the highest investment grade rating on the RAM scale – affirming strong credit fundamentals.
