Bursa
Announcements

The Board of Directors of Ekovest is pleased to announce that Kesturi, our 70% owned subsidiary, had on 2 December 2013 issued RM2,300 million in nominal value Sukuk Musharakah and RM180 million in nominal value Junior Bonds.

The Sukuk Programme and Junior Bonds have been accorded ratings of AA-_IS and A- with stable outlook, respectively by Malaysian Rating Corporation Berhad.

The aggregate proceeds from the issuance of the Sukuk Musharakah and Junior Bonds will be utilised for, inter-alia the following:-

(i)         For redemption of Kesturi’s existing RM820.0 million nominal value Islamic medium term notes (“Existing Sukuk”) and existing RM50.0 million nominal value redeemable secured junior bonds;

(ii)        To fund the initial deposit in the finance service reserve account maintained under the Sukuk Programme;

(iii)       For payment of ancillary fees, costs, deposits and expenses in relation to the redemption of the Existing Sukuk and establishment of the Sukuk Programme and Junior Bonds; and

(iv)      To part-finance the construction costs, development costs, financing costs, fees and expenses in relation to DUKE Phase-2 pursuant to the supplemental concession agreement dated 3 December 2012 entered into between Kesturi and the Government of Malaysia.

CIMB Investment Bank Berhad is the sole Principal Adviser, Lead Arranger and Lead Manager for the Sukuk Programme and Junior Bonds.

This announcement is dated 2 December 2013.