Pelaburan Hartanah Berhad’s Sustainability Sukuk Framework assigned Gold Sustainable Finance Rating

Published on 25 Jul 2024.

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RAM Sustainability has completed the external review of Pelaburan Hartanah Berhad’s (PHB) Sustainability Sukuk Framework (the Framework) and accorded it a Gold Sustainable Finance Rating. Our opinion of the Framework concludes that it has an Aligned level of disclosure, as required by relevant recognised green and sustainability guidelines.

PHB is dedicated to realising its vision of enhancing bumiputera participation in Malaysia’s commercial property market. Towards this end, PHB plans to issue Green and/or Sustainability Sukuk under a proposed Islamic Medium-Term Notes Programme and Islamic Commercial Paper Programme of up to RM5.0 billion in nominal value (Sukuk Programme). The first tranche to be issued under the Sukuk Programme is up to RM1.4 billion of Sustainability Sukuk.

We have assigned Environmental Benefit (EB) and Social Benefit (SB) ratings to the eligible projects under the Framework, which reflect their potential contribution towards climate and wider environmental benefits, or measurable social improvement and impact (Table 1).

 

Analytical contacts
Cynthia Lim Sin Lu
(603) 3385 2549
cynthia@ram.com.my

Amirah Jamil
(603) 3385 2551
amirah@ram.com.my

Media contact
Sakinah Arifin
(603) 3385 2500
sakinah@ram.com.my

 

This external review or second opinion is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for an investor, nor does it involve any audit by RAM Sustainability.

About RAM Sustainability

RAM Sustainability Sdn Bhd (RAM Sustainability) is a provider of sustainability services and ESG analytics. Incorporated on 31 May 2000, RAM Sustainability is a wholly owned subsidiary of RAM Holdings Berhad (RAM Group). RAM Sustainability is the first ASEAN-based provider of ESG ratings and second opinions and has the distinction of being the first Registered Observer of ICMA’s Green Bond Principles, Social Bond Principles, Sustainability Bond Guidelines and Sustainability-Linked Bond Principles in ASEAN. It was a member of ICMA’s Advisory Council to the Green Bond Principle and Social Bond Principle Executive Committee for three consecutive terms. On 12 August 2020, RAM Sustainability became an Approved Verifier for the certification of climate bonds under the Climate Bonds Standard & Certification Scheme after having been awarded the status by the Climate Bonds Standards Board. For further details, please refer to https://www.ram.com.my/sustainability.

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