On behalf of the Board of Directors of Mah Sing, Hong Leong Investment Bank Berhad (“HLIB”) is pleased to announce that the Company has today completed an issuance of secured and unrated Sukuk Murabahah of RM300.0 million in nominal value under the Company’s existing Sukuk Murabahah Programme. The Sukuk Murabahah has a tenure of five (5) years and carries a fixed profit rate of 4.90% per annum payable semi-annually. The Sukuk Murabahah is secured by assets owned by the Company's subsidiaries and certain designated accounts.

The proceeds raised from this issuance of Sukuk Murabahah will be utilised for Shariah-compliant purposes which may include landbanking, capital expenditures, investments and working capital of Mah Sing and its subsidiaries (“Group”) and associate companies as well as the refinancing of the Group’s existing borrowings and/or redemption of unrated perpetual securities.

The issuance of the Sukuk Murabahah will not have any effect on the issued share capital of the Company, the substantial shareholders’ shareholdings in the Company and the Group’s net assets per share. The effect on earnings per share and net debt position of the Group will depend on the specific use of proceeds which has not been determined at this juncture.

HLIB is the Principal Adviser, Lead Arranger and Lead Manager for the Sukuk Murabahah Programme.

This announcement is dated 20 October 2021.