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Wednesday, 22 July 2015

Malaysia: West Coast’s proposed RM1b sukuk rated AAA by RAM

KUALA LUMPUR, July 21 — RAM Ratings has assigned “AAA(bg/fg)/Stable” rating to the proposed guaranteed RM1 billion Sukuk Murabahah Programme to be issued by West Coast Expressway Sdn Bhd (West Coast).
The rating reflects irrevocable and unconditional Kafalah from AAA-rated Bank Pembangunan Malaysia Bhd and Danajamin Nasional Bhd, which enhance the sukuk’s ratings beyond West Coast’s stand-alone credit strength.
The proposed sukuk, a syndicated term-loan facility, a government support loan and shareholders’ equity, will fund the West Coast Expressway, said the rating agency in a statement here today.
The 316-km highway, from Banting, Selangor, to Changkat Jering in Taiping, will be the second longest inter-state tolled expressway after the North-South Expressway.
It is budgeted for completion within five years at a cost of RM5 billion.
(Malay Mail Online / 21 July 2015)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

Tecom Investments and Amlak Finance launch off-plan Islamic financing

Dubai: Tecom Investments said on Tuesday it has signed an agreement with Amlak Finance, the UAE’s first specialised real estate finance provider, to offer Sharia-compliant financing options via its Amlak Tatweer programme to all purchasers of freehold Villa Lantana homes, including non-resident and self-employed buyers.
Amlak will offer financing of up to 50 per cent of the property value prior to project handover, with the option to re-finance up to 75 per cent upon completion for tenures of up to 25 years at highly competitive rates, enabling more investors and end-users to become part of the Villa Lantana community, Tecom Investments said in a statement.
The new Villa Lantana development of 440 freehold family villas represents an astute investment opportunity, in part due to its key location in Dubai’s Al Barsha growth corridor in addition to the established reputation of its master developer, Tecom Investments.
The contemporary Villa Lantana community also features a well-planned, beautifully landscaped family neighbourhood. Buyers can choose between 17 different villa designs, 11 floor plans and a range of 3, 4 and 5 bedroom detached and semi-attached family homes. Villas span in square footage from 2,453-square-feet of Built Up Area (BUA), up to 
6,082-square-feet BUA.
(Gulf News Markets / 21 July 2015)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

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