Danajamin Guarantees Liquidity Support for SkyWorld

On 8 Dec 2017, Danajamin Nasional Berhad, the country’s first Financial Guarantee Insurer announced that it is guaranteeing a credit enhancement facility for Tranche 1 of the 12-year RM600 million Sukuk Musharakah Islamic Medium-Term Note (IMTN) Programme to be issued by SkyWorld Capital Berhad, a sole-purpose vehicle wholly-owned by SkyWorld Development Sdn Bhd. Datuk Ng Thien Phing, Founder & Group MD of SkyWorld opined that this is the first of its kind SUKUK programme in Malaysia and this transaction with Danajamin signalled a positive start for SkyWorld Development Group. “We have been growing from strength to strength. All our SkyAwani 1 and 2 recorded 100% take-up. All our current and future developments are location-centric – within Kuala Lumpur region. With over 130 acres of quality land banks totalling more than RM13 billion in gross development value, we are on the right track of transforming the city and unlocking our land value.”