ISLAMIC FINANCE NEWS AWARD 2017
ON 19 March 2018, SkyWorld was awarded the Structured Finance Deal of the Year 2017 for its innovative SUKUK Program by IFN, the world’s leading Islamic Finance News provider, at an award ceremony held at Shangri-La Hotel.
This landmark Islamic Sukuk transaction is a synthetic securitization of progress billings, the first Shariah compliant transaction in the world. 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”).
SkyWorld’s Founder & Group Managing Director, Datuk Ng Thien Phing, received the award on behalf of the company. He spoke of his great pride in winning the honor by saying that “SkyWorld Development Group exhibits impressive performance in all areas of property development, and continuously working for greater success. As a result of this ongoing effort, SkyWorld Development Group has received numerous industry accolades and these are testaments to SkyWorld’s ongoing determination of becoming the best city developer. This recognition provides valuable encouragement to the team and a positive start to the company. I want to thank all related parties and my dedicated team for all the hard work and effort put into this project.”
This financial structure was structured, developed, arranged and advised on by NewParadigm Capital Markets Sdn Bhd, a boutique corporate finance firm licensed by the Securities Commission of Malaysia.