In statement, Danajamin said Syarikat Kapasi would be utilising the funds raised to finance the construction of a real estate development project in Kota Kinabalu known as KK Times Square II, which would comprise a retail shopping mall, serviced apartments and shoplots.
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Ahmad Zulqarnain Onn says guarantee enables companies to access the bond market for funding
Danajamin chief executive officer Ahmad Zulqarnain Onn said Danajamin’s financial guarantee enabled a wide spectrum of companies to access the bond market for funding.
“The increased accessibility allows more companies to raise long-term borrowings to finance their businesses at a reasonable cost of financing,” he said.
Danajamin is the nation’s first financial guarantee insurer, which was established to provide financial guarantee insurance for bond/sukuk issuances to enable viable Malaysian companies to access the bond/sukuk market for capital-raising.
It has approved a total of RM1.7bil guarantees as for to-date for companies in various industries including oil and gas, property and construction, plantation and infrastructure.
By The Star
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