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Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia-based JB Cocoa Sdn Bhd (JB Cocoa), the wholly owned subsidiary of investment holding company JB Foods Limited’s (JB Foods) has announced the successful issuance of the first tranche of MYR 100 million Wakalah Sukuk, under an MYR 500 million nominally-valued Sukuk Wakalah programme based on Wakalah Bi Al-Istithmar. Why it Matters?  The issuance, which was made to support the company in diversifying its fundraising requirements by utilising the capital market for business expansion despite the current difficult economic environment, received commitment and...

IM Insights | December 08, 2022

Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia’s JB Cocoa Issues MYR 100 Million Wakalah Sukuk under Sukuk Wakalah Programme 

Malaysia-based JB Cocoa Sdn Bhd (JB Cocoa), the wholly owned subsidiary of investment holding company JB Foods Limited’s (JB Foods) has announced the successful issuance of the first tranche of MYR 100 million Wakalah Sukuk, under an MYR 500 million nominally-valued Sukuk Wakalah programme based on Wakalah Bi Al-Istithmar. Why it Matters?  The issuance, which was made to support the company in diversifying its fundraising requirements by utilising the capital market for business expansion despite the current difficult economic environment, received commitment and...

IM Insights | December 08, 2022

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

Millennials, those born between 1981 and 1996, and Generation Z (Gen Z), those born between 1997 and 2012, are reshaping the asset management industry. These younger generations have different attitudes towards investing than previous generations, and this is driving changes in the products and services offered by asset management companies.  Generational EdgeAccording to the World Economic Forum, there were 1.8 billion millennials in the world as at November 2021, accounting for 23% of the total population. This generation was the largest adult cohort globally, as well as the mo...

IM Insights | December 07, 2022

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

New Expectations for the Asset Management Industry: The Age of Millennials and Gen Z 

Millennials, those born between 1981 and 1996, and Generation Z (Gen Z), those born between 1997 and 2012, are reshaping the asset management industry. These younger generations have different attitudes towards investing than previous generations, and this is driving changes in the products and services offered by asset management companies.  Generational EdgeAccording to the World Economic Forum, there were 1.8 billion millennials in the world as at November 2021, accounting for 23% of the total population. This generation was the largest adult cohort globally, as well as the mo...

IM Insights | December 07, 2022

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia-based Yinson Holdings Berhad (Yinson) has announced the successful issuance of a total of MYR 360 million in nominal value of Islamic notes under its perpetual MYR 1 billion Sukuk Wakalah Programme, as per a bourse filing.  Why it Matters? The Sukuk was made in two offerings: on the 2nd of November 20222, Sukuk worth MYR 250 million was issued; and on the 5th of December 2022, the remaining MYR 110 million was issued. The funds raised from the issuances will be used for Yinson's capital expenditures as well as the refinancing of its current and upcoming financing or...

IM Insights | December 07, 2022

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia’s Yinson Holdings Concludes MYR 360 Million Sukuk Under its MYR 1 Billion Sukuk Wakalah Programme  

Malaysia-based Yinson Holdings Berhad (Yinson) has announced the successful issuance of a total of MYR 360 million in nominal value of Islamic notes under its perpetual MYR 1 billion Sukuk Wakalah Programme, as per a bourse filing.  Why it Matters? The Sukuk was made in two offerings: on the 2nd of November 20222, Sukuk worth MYR 250 million was issued; and on the 5th of December 2022, the remaining MYR 110 million was issued. The funds raised from the issuances will be used for Yinson's capital expenditures as well as the refinancing of its current and upcoming financing or...

IM Insights | December 07, 2022

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia-based Advanced Petrochemical Company (Previously known as: Advanced Polypropylene) has announced the closure of an SAR 6.1 billion (USD 1.62 billion) Shariah-compliant facilities by its subsidiary Advanced Polyolefins Industry Company (Advanced Polyolefins) to finance the construction of three plants in Jubail Industrial City.  Why it Matters? The financial close comes after the company signed various Islamic facility agreements with a consortium of financial institutions on the 6th of July 2022 to construct the three plants, namely propane dehydrogenation, poly...

IM Insights | December 07, 2022

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia’s Advanced Polyolefins Secures Shariah-compliant Funding Worth USD 1.6 Billion for 3 Plants 

Saudi Arabia-based Advanced Petrochemical Company (Previously known as: Advanced Polypropylene) has announced the closure of an SAR 6.1 billion (USD 1.62 billion) Shariah-compliant facilities by its subsidiary Advanced Polyolefins Industry Company (Advanced Polyolefins) to finance the construction of three plants in Jubail Industrial City.  Why it Matters? The financial close comes after the company signed various Islamic facility agreements with a consortium of financial institutions on the 6th of July 2022 to construct the three plants, namely propane dehydrogenation, poly...

IM Insights | December 07, 2022

Essential Elements for Effective Wealth Management  

Introduction: Wealth management is the process of planning and implementing strategies to grow and protect one’s financial assets. It's important to think about both the short-term and long-term when it comes to managing and growing wealth, as this will help ensure that the resources needed to achieve financial goals are present and that the individual’s lifestyle is maintained today and in the future.  Setting Goals: The first step in wealth management is to set both short-term and long-term financial goals. These goals should be specific, measurable, achievable, relevant,...

IM Insights | December 07, 2022

Essential Elements for Effective Wealth Management  

Essential Elements for Effective Wealth Management  

Introduction: Wealth management is the process of planning and implementing strategies to grow and protect one’s financial assets. It's important to think about both the short-term and long-term when it comes to managing and growing wealth, as this will help ensure that the resources needed to achieve financial goals are present and that the individual’s lifestyle is maintained today and in the future.  Setting Goals: The first step in wealth management is to set both short-term and long-term financial goals. These goals should be specific, measurable, achievable, relevant,...

IM Insights | December 07, 2022

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of an MYR 935 million (USD 213 million) Sukuk issuance, comprising MYR 735 million one-year Islamic medium-term notes (IMTNs) and MYR 200 million (USD 45.7 million) three-year IMTNs, as per a statement on the 5th of December 2022. Why it Matters? The offering's proceeds will be utilised to pay for the acquisition of mortgage loans and other home finance from the domestic financial sector. The papers are unsecured obligations of the corporation that rank pari passu with all other c...

IM Insights | December 06, 2022

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million  

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of an MYR 935 million (USD 213 million) Sukuk issuance, comprising MYR 735 million one-year Islamic medium-term notes (IMTNs) and MYR 200 million (USD 45.7 million) three-year IMTNs, as per a statement on the 5th of December 2022. Why it Matters? The offering's proceeds will be utilised to pay for the acquisition of mortgage loans and other home finance from the domestic financial sector. The papers are unsecured obligations of the corporation that rank pari passu with all other c...

IM Insights | December 06, 2022

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

The volume of Islamic banking in Egypt has reached roughly EGP 459 billion (USD 18.7 billion) by the end of September 2022, witnessing a rise of EGP 52 billion (USD 2.1 billion) and a growth rate of 12.8% over September 2021, according to Mohamed El-Beltagy, Head of the Egyptian Society for Islamic Finance.  Why it Matters? With more than 60 banking products and services, Islamic banking makes up around 5% of all banking in Egypt. 14 banks in the local market are licensed by the Central Bank of Egypt (CBE) to provide Islamic banking services, including three wholly Islamic b...

IM Insights | December 05, 2022

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

Egypt’s Islamic Banking Volume Reaches EGP 459 Billion by End of September 2022 

The volume of Islamic banking in Egypt has reached roughly EGP 459 billion (USD 18.7 billion) by the end of September 2022, witnessing a rise of EGP 52 billion (USD 2.1 billion) and a growth rate of 12.8% over September 2021, according to Mohamed El-Beltagy, Head of the Egyptian Society for Islamic Finance.  Why it Matters? With more than 60 banking products and services, Islamic banking makes up around 5% of all banking in Egypt. 14 banks in the local market are licensed by the Central Bank of Egypt (CBE) to provide Islamic banking services, including three wholly Islamic b...

IM Insights | December 05, 2022

Indonesia’s Balitower to Launch IDR 2 Trillion Sukuk Ijarah Programme  

Indonesia-based telecommunications tower company PT Bali Towerindo Sentra Tbk (Balitower) has announced plans to launch an IDR 2 trillion (USD 130 million) Sukuk Ijarah Programme with its maiden issuance of Phase I Year 2022 Sukuk Ijarah under the Programme worth IDR 500 billion (USD 32.5 million). Why it Matters?  After deducting the costs associated with emissions, proceeds from the offering would be used for working capital, which covers daily operational costs and marketing and sales costs associated with customer acquisition, as well as capital expenditure needs which aim to...

IM Insights | December 05, 2022

Indonesia’s Balitower to Launch IDR 2 Trillion Sukuk Ijarah Programme  

Indonesia’s Balitower to Launch IDR 2 Trillion Sukuk Ijarah Programme  

Indonesia-based telecommunications tower company PT Bali Towerindo Sentra Tbk (Balitower) has announced plans to launch an IDR 2 trillion (USD 130 million) Sukuk Ijarah Programme with its maiden issuance of Phase I Year 2022 Sukuk Ijarah under the Programme worth IDR 500 billion (USD 32.5 million). Why it Matters?  After deducting the costs associated with emissions, proceeds from the offering would be used for working capital, which covers daily operational costs and marketing and sales costs associated with customer acquisition, as well as capital expenditure needs which aim to...

IM Insights | December 05, 2022

Green Fixed Income Issuance Isn’t Enough to Win Over Investors Focused on Net Zero

Investors are becoming increasingly selective about how ‘green’ instruments contribute to wider decarbonisation beyond just qualifying as ‘green’. With greenwashing on the rise, investors are looking at whether an investment is consistent with and supported by credible policies of the issuers and markets to reach Net Zero commitments. Issuers, financial institutions and investors in emerging markets & developing economies will be significantly impacted but also could gain from a ‘virtuous circle’ of coherent policy support. Investors are starting to l...

Blake Goud | December 05, 2022

Green Fixed Income Issuance Isn’t Enough to Win Over Investors Focused on Net Zero

Green Fixed Income Issuance Isn’t Enough to Win Over Investors Focused on Net Zero

Investors are becoming increasingly selective about how ‘green’ instruments contribute to wider decarbonisation beyond just qualifying as ‘green’. With greenwashing on the rise, investors are looking at whether an investment is consistent with and supported by credible policies of the issuers and markets to reach Net Zero commitments. Issuers, financial institutions and investors in emerging markets & developing economies will be significantly impacted but also could gain from a ‘virtuous circle’ of coherent policy support. Investors are starting to l...

Blake Goud | December 05, 2022

Malaysia’s AEON Credit Service Names Chief Executive Officer of its Digital Bank  

The AEON Consortium, which consists of AEON Credit Service (M) Berhad, its parent company AEON Financial Service Co Ltd (AFS), and fintech company and technology partner MoneyLion Inc (MLI), has announced the appointment of Raja Teh Maimunah Raja Abdul Aziz as the Chief Executive Officer (CEO) of its digital bank that is anticipated to launch by the end of 2023, as per a statement made on 30th of November 2022. Why it Matters? In April 2021, Malaysia's Ministry of Finance and Bank Negara Malaysia (the Central Bank of Malaysia) granted a digital bank licence to five cons...

IM Insights | December 01, 2022

Malaysia’s AEON Credit Service Names Chief Executive Officer of its Digital Bank  

Malaysia’s AEON Credit Service Names Chief Executive Officer of its Digital Bank  

The AEON Consortium, which consists of AEON Credit Service (M) Berhad, its parent company AEON Financial Service Co Ltd (AFS), and fintech company and technology partner MoneyLion Inc (MLI), has announced the appointment of Raja Teh Maimunah Raja Abdul Aziz as the Chief Executive Officer (CEO) of its digital bank that is anticipated to launch by the end of 2023, as per a statement made on 30th of November 2022. Why it Matters? In April 2021, Malaysia's Ministry of Finance and Bank Negara Malaysia (the Central Bank of Malaysia) granted a digital bank licence to five cons...

IM Insights | December 01, 2022

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