On behalf of Eastern & Oriental Berhad (“E&O”), Maybank Investment Bank Berhad and RHB Investment Bank Berhad are pleased to announce that E&O’s subsidiary, Tanjung Pinang Development Sdn Bhd (“TPDSB” or the “Issuer”) had on 19 December 2019, lodged with the Securities Commission Malaysia (“SC”) all the required information and relevant documents relating to the Sukuk Murabahah Programme pursuant to the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015 and revised on 26 November 2019.

The Sukuk Murabahah Programme is unrated and has a tenure of twenty five (25) years from the date of first issuance of the Sukuk Murabahah.

The proceeds raised from the issuance of Sukuk Murabahah under the Sukuk Murabahah Programme shall be utilised for the following purposes which shall be Shariah-compliant:

1. To refinance existing financing or borrowings of the Issuer and/or its subsidiaries;
2. To part finance land reclamation, infrastructure and development costs in respect of projects undertaken by the Issuer and/or its subsidiaries;
3. To finance conversion premium of land(s) owned by the Issuer and/or its subsidiaries;
4. To repay amounts due to the Issuer’s and/or its subsidiaries’ related companies and/or to reimburse the Issuer’s and/or its subsidiaries’ related companies for amounts disbursed or advanced by such companies in relation to land reclamation cost of projects undertaken by the Issuer and/or its subsidiaries;
5. To finance working capital requirements in relation to projects undertaken by the Issuer and/or its subsidiaries and/or other requirements related to the business activities of the Issuer and/or its subsidiaries; and/or
6. To defray fees, costs and expenses in relation to the issue of the Sukuk Murabahah and the Sukuk Murabahah Programme.

Maybank Investment Bank Berhad and RHB Investment Bank Berhad have been appointed as the Joint Principal Advisers and Joint Lead Arrangers for the Sukuk Murabahah Programme.

This announcement is dated 19 December 2019.