On 10 July 2018, SkyWorld Development Group was awarded the Best Structured Finance SUKUK at The Asset Triple A Awards ceremony held at Shangri-La Hotel, Kuala Lumpur. The Asset is Asia’s largest circulated financial monthly magazine. This SUKUK program is recognised not only for one but three ‘FIRST’ innovative structures –
1) the FIRST securitization of progress billings in Malaysia;
2) the FIRST SUKUK to monetize unbilled sales for executed property transactions and;
3) the FIRST to involve affordable housing.
SkyWorld established its first landmark RM1.0 billion financial program comprising RM600 million Sukuk Musharakah IMTN Programme and a RM400 million Sukuk Murabahah ICP Programme (“Sukuk Murabahah” or “ICP Programme”) through a special-purpose financial vehicle, SkyWorld Capital Berhad (“SkyWorld Capital or the Issuer”).