KUALA LUMPUR (March 24): Sunway Healthcare Group (SHG) has set up a Sustainability Financing Framework for the issuance of sustainability sukuk under its wholly owned Sunway Healthcare Treasury Sdn Bhd's RM5 billion Sukuk Wakalah Programme, to finance eligible projects such as the opening of new hospitals across Malaysia.

Maybank Investment Bank (Maybank IB) was the sole sustainability structuring adviser for the establishment of the framework, as well as the sole principal adviser, lead arranger and lead manager for the sukuk programme.

“Sustainability sits at the core of Sunway’s DNA and the healthcare division works towards supporting the United Nations Sustainable Development Goals (UN SDGs), especially in the areas of quality healthcare, community
outreach, talent diversity and green efforts. SHG pushes the frontiers of clinical excellence and technological capability to support the healthcare goals of the nation and to raise the standards of healthcare in the Asean region,” said group president Datuk Lau Beng Long in a statement.

Maybank IB chief executive Datuk Fad'l Mohamed said ESG requirements are becoming entrenched among regulators and investors alike, and that companies with strong foundations and clear roadmaps will be well positioned to tap into the capital markets.

"As a key partner bank to the Sunway Group, we are honoured to support SHG's sustainability ambitions with our expertise in sustainable finance. This milestone is another testament to our commitment to the group, having acted as sole financial advisor for SHG’s strategic sale of a 16% stake to GIC Pte Ltd in 2021,” he added.

The newly established framework was accorded the highest rating of 'gold' under Malaysian Rating Corp Bhd's Impact Bond Assessment, said SHG. The framework is also in compliance with the Securities Commission Malaysia’s Sustainability and Responsibility Investment Sukuk Framework, the Asean Capital Markets Forum’s Green, Social and Sustainability Bond Standards, the International Capital Markets Association’s Green, Social and Sustainability Bond Principles, and the Loan Market Association’s Green and Social Loan Principles.

An integrated private healthcare provider, SHG opened Sunway Medical Centre Velocity, its second tertiary hospital, in September 2019 and Sunway Medical Centre Penang in November 2022, following the success of its Sunway Medical Centre (SMC) in Sunway City.

It plans to open more hospitals in Sunway Kota Damansara (Selangor), Iskandar Puteri (Johor), Ipoh (Perak), Kota Bharu (Kelantan) and Paya Terubong (Penang) to become one of the largest healthcare organisations in Malaysia with a total bed capacity of more than 3,000 across its network of hospitals.