Maybank Investment Bank recognised as Best in Asia-Pacific for Islamic Finance and Infrastructure capabilities by The Asset
Kuala Lumpur, 21 October 2020 – In a display of continued strength in Islamic finance and infrastructure, Maybank Investment Bank (“Maybank IB”), part of the Maybank Kim Eng group, was named Best Islamic Investment Bank and Sukuk Adviser of the Year for Asia-Pacific and Malaysia at The Asset Triple A Islamic Finance Awards 2020, as well as Project Finance House for Malaysia at The Asset Triple A Infrastructure Awards 2020.
This is Maybank IB’s second consecutive year being named by The Asset as Asia-Pacific’s and Malaysia’s Best Islamic Investment Bank, fourth consecutive year being named Sukuk Adviser of the Year (Asia Pacific and Malaysia) and second time being named Project Finance House for Malaysia. In total, Maybank IB bagged 11 titles at the Islamic Finance Awards and 7 at the Infrastructure Awards.
Additionally, Maybank Securities Solutions received a Highly Commended for Best Domestic Custodian in The Asset Triple A Sustainable Investing Awards 2020 for Institutional Investors, ETF and Asset Servicing Providers.
“Maybank Investment Bank is anchored by the sustainable financing-type of transactions that it helped arrange for the Republic of Indonesia, as well as Cypark Ref’s RM550 million sukuk, which was a landmark green financing deal in Malaysia and selected as the Best Renewable Energy Sukuk — Solar,” The Asset said.
The Cypark Ref transaction was a first-of-its-kind solar turnkey financing structure that has garnered several accolades for Maybank IB. It involved the securitisation of vendor financing, where Cypark Ref, as the turnkey contractor, raised financing secured against the aggregation of deferred turnkey payments from three project companies.
The structure enabled Cypark to tap the debt capital market for the funding of three separate large scale solar projects. On their own, each of the three projects would have been considered sub-optimal to command for bond or sukuk issuances.
Together, the three solar projects (90MW in total) are projected to reduce greenhouse gas emissions by approximately 2.4 million tonnes over 21 years.
Fad’l Mohamed, Chief Executive Officer, Maybank Investment Bank said: “We are honoured to be recognised by The Asset for our market leadership not only in Malaysia but also in Asia-Pacific. We will continue innovating at the nexus of sustainable and Islamic financing, bridging the best of both worlds to execute complex transactions that help clients tap into the capital markets.”
Ami Moris, Chief Executive Officer, Maybank Kim Eng Group said: “Our commitment to ESG has clearly paid off. We recognise that sustainability is a journey, and as ASEAN’s need for infrastructure continues to grow in step with its economies, we will continue to support our clients with innovative solutions that employ a sustainability-first approach.”
The Asset Triple A awards are highly regarded industry awards. The Asset practices a rigorous selection process in awarding the best financial institutions and transactions, with points allocated for both quantitative and qualitative factors.