STMKB is pleased to announce that it had on 14 August 2025, lodged the required information and relevant documents in relation to Sukuk Wakalah Programme with the Securities Commission Malaysia (”SC”) pursuant to SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework, issued by SC on 9 March 2015, as may be amended, revised and/or substituted from time to time.
 
The T2 Sukuk Wakalah issued under the Sukuk Wakalah Programme is intended to qualify as Tier 2 capital of STMKB pursuant to Risk-Based Capital Framework for Takaful Operators issued by Bank Negara Malaysia on 17 December 2018 (as may be further amended, revised and/or substituted from time to time). The tenure of Sukuk Wakalah Programme is perpetual whereas the T2 Sukuk Wakalah to be issued under Sukuk Wakalah Programme shall have a tenure of not less than five (5) years from the issue date.

STMKB has been accorded a Takaful Financial Strength rating of AA2 by RAM Rating Services Berhad (“RAM”), whereas Sukuk Wakalah Programme has been accorded a credit rating of AA3 by RAM.

The proceeds of T2 Sukuk Wakalah shall be made available for working capital and corporate purposes of the Company and refinancing of the T2 Sukuk Wakalah and/or Shariah compliant capital instruments. For avoidance of doubt, utilisation of proceeds shall at all times be for Shariah-compliant purposes. 

CIMB Investment Bank Berhad is the Sole Principal Adviser, Sole Lead Arranger and Sole Lead Manager for Sukuk Wakalah Programme, whilst CIMB Islamic Bank Berhad is the Shariah Adviser for Sukuk Wakalah Programme.

This announcement is dated 14 August 2025.