On 4 May 2018, SkyWorld was awarded the RAM Blueprint Award 2017 – Structured Finance Landmark Deal of the year at the 15th Annual RAM League Awards night at Grand Hyatt, Kuala Lumpur.
SkyWorld established the RM600 million Islamic Medium Term Notes Programme through a special-purpose financial vehicle, SkyWorld Capital Berhad (“SkyWorld Capital or the Issuer”). This award is reserved for a selected few that has been significant to the development of Malaysia as a leading Asian bond market.
According to Mr Andy Leong Chain Hong, CFO of SkyWorld, “We are truly proud and honoured to receive the ‘Best of the Best’ Award as this is the first-of-its-kind structured finance in the world. RAM does not give out this award every year, only to a selected few when there is a landmark structure. Of course, these awards are not possible without the support and efforts by our dynamic SkyWorld team and consultants. My special thanks to NewParadigm Capital Markets Sdn Bhd who have helped to structure, develop, arrange and advise on this financial structure.” This innovative SUKUK program has earlier won the best Structured Finance Deal of the Year by IFN, the world’s leading Islamic Financial News provider.
SkyWorld has been instrumental to the development of the Malaysian debt capital market. With quality land banks located in the city centre totalling more than RM13billion in gross development value, SkyWorld is on right track of transforming the city and unlocking its land value.