Industrial property developer Klanggroup Holdings Sdn Bhd has launched a maiden RM3 billion Islamic Medium-Term Notes (IMTN) programme to finance future project development, land acquisitions, capital expenditure and working capital as it accelerates its long-term growth strategy.
The group, formerly known as WorldKlang Group Holdings Sdn Bhd, lodged the RM3 billion IMTN programme together with a RM1 billion Islamic Commercial Papers (ICP) programme, collectively known as the Sukuk Wakalah Programmes, with the Securities Commission Malaysia, marking its debut in the Islamic capital markets.
The Sukuk Wakalah Programmes, structured under the Shariah principle of Wakalah Bi Al-Istithmar, have received initial ratings of AA3(s)/Stable for the IMTN and P1(s) for the ICP from RAM Rating Services Bhd, reflecting Klanggroup’s credit strength as the corporate guarantor.
Proceeds from the programmes will be utilised progressively over the tenure of the facilities to fund capital expenditure, working capital, general corporate purposes, project development, investments and strategic asset acquisitions, with drawdowns aligned to investment opportunities, landbank expansion and funding requirements.
Executive Director Danny Ong said the sukuk programmes represent a significant milestone in Klanggroup’s corporate journey, providing the group with a flexible and diversified funding platform to support its next phase of expansion.
“For more than a decade, we have built Klanggroup on a simple conviction: That well-located, well-built industrial developments create lasting value for businesses and communities. These maiden Sukuk Wakalah Programmes mark our first step into the Islamic capital markets and reflect confidence in the strong foundations we have built,” he said.
As at end-December 2025, the group had completed or was undertaking projects spanning more than 800 acres with a combined gross development value (GDV) exceeding RM5 billion, while retaining a landbank of about 550 acres with an estimated GDV of RM3.4 billion.
The company generated approximately RM900 million in revenue in 2025, supported by disciplined project execution and its in-house construction capabilities.
Hong Leong Investment Bank Bhd is acting as the principal advisor, lead arranger and lead manager for the Sukuk Wakalah Programmes.
