1. INTRODUCTION

The Board of Directors of Sunway wishes to announce that Sunway Healthcare Treasury Sdn Bhd (“Issuer”), a wholly-owned subsidiary of Sunway Healthcare Holdings Sdn Bhd (“SHH”), which in turn is a 90.26%-owned joint venture of Sunway City Sdn Bhd, which is a wholly-owned subsidiary of Sunway, had on 19 January 2023, lodged the required information and relevant documents relating to the Sukuk Wakalah Programme with the Securities Commission Malaysia (“SC”) pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (first issued by the SC on 9 March 2015 and revised on 28 November 2022, as amended from time to time) (“LOLA Guidelines”) and the SC’s Guidelines on Islamic Capital Market Products and Services (first issued by the SC on 28 November 2022, as amended from time to time) (“ICMPS Guidelines”).

2. DETAILS OF THE SUKUK WAKALAH PROGRAMME

The Sukuk Wakalah Programme shall have a tenure of 100 years from the date of the first issue of Sukuk Wakalah under the Sukuk Wakalah Programme which shall be made within 90 business days from the date of the lodgment with the SC (or such other period as may be approved by the SC). 

The Sukuk Wakalah Programme will provide flexibility for the Issuer to issue Sukuk Wakalah which complies with any one or more of the following guidelines, principles or frameworks, as amended and/or substituted from time to time:

(i) the Sustainable and Responsible Investment (“SRI”) Sukuk framework pursuant to the LOLA Guidelines;

(ii) the ASEAN Green Bond Standards issued by the ASEAN Capital Markets Forum (“ACMF”);

(iii) the ASEAN Social Bond Standards issued by the ACMF;

(iv) the ASEAN Sustainability Bond Standards issued by the ACMF;

(v) the Green Bond Principles by the International Capital Market Association (“ICMA”);

(vi) the Social Bond Principles by ICMA;

(vii) the Sustainability Bond Principles by ICMA; or

(viii) such other guidelines or frameworks or standards introduced/issued from time to time by the ACMF, the ICMA and/or the SC and/or which are incorporated by the SC into the LOLA Guidelines and/or the ICMPS Guidelines from time to time or such other related guidelines or frameworks or standards, whether or not having the force of law, in relation to sustainability/social/green bonds issued from time to time,

((i) to (viii) are collectively referred to as the “Sustainability Guidelines” and the Sukuk Wakalah issued under the Sustainability Guidelines shall be referred to as “Sustainable Sukuk Wakalah”. References to Sukuk Wakalah shall include the Sustainable Sukuk Wakalah unless otherwise specified).

The Sukuk Wakalah Programme is unrated.

Maybank Investment Bank Berhad is the Principal Adviser, Lead Arranger, Lead Manager, Facility Agent and Sustainability Structuring Adviser for the Sukuk Wakalah Programme. Maybank Islamic Berhad is the Shariah Adviser for the Sukuk Wakalah Programme.

3. UTILISATION OF PROCEEDS

The proceeds from the Sukuk Wakalah Programme shall be utilised by the Issuer for the following Shariah-compliant purposes:

(i) financing of the SHH Group’s healthcare and healthcare related business;

(ii) capital expenditure of the SHH Group;

(iii) general corporate purposes of the SHH Group (including but not limited to the fees and expenses related to the Sukuk Wakalah Programme);

(iv) working capital requirements of the SHH Group; and/or 

(v) refinancing of the SHH Group’s existing Shariah-compliant financing/conventional borrowings and/or future Shariah-compliant financing.

The proceeds raised from the issuance of the Sustainable Sukuk Wakalah shall be utilised by the Issuer and/or the SHH Group for eligible SRI projects that meet the criteria as set out in the Sustainability Financing Framework (as defined below). 

“SHH Group” shall mean SHH and its subsidiaries.

“Sustainability Financing Framework” shall mean the framework established by the Issuer in relation to the issuance of the Sustainable Sukuk Wakalah under the Sukuk Wakalah Programme, as may be amended or updated from time to time.

For the avoidance of doubt, the utilisation of the proceeds from the Sukuk Wakalah Programme shall at all times be for Shariah-compliant purposes.

This announcement is dated 19 January 2023.