Pursuant to the announcement made on 9 March 2026, Velesto Energy Berhad ("Velesto" or the "Corporate Guarantor") is pleased to announce that Sumber Ribu Sdn Bhd ("Sumber Ribu" or the "Issuer") has on 29 May 2026 successfully completed its inaugural issuance of RM350.0 million in nominal value of Islamic medium term notes ("IMTN") and RM1.0 million in nominal value of Islamic commercial papers ("ICP") under the Sukuk Wakalah Programmes. The IMTN has a 5-year maturity while the ICP has a 1-month maturity.
The Sukuk Wakalah Programmes are unsecured and guaranteed by Velesto. RAM Rating Services Berhad has assigned a short-term and long-term rating of P1(s) and AA2(s) with a stable outlook to the Islamic commercial papers programme ("ICP Programme") and Islamic medium term notes programme ("IMTN Programme"), respectively.
Velesto intends to utilise proceeds from the first issuance of Sukuk Wakalah to finance the Issuer's, the Corporate Guarantor's and/or the Corporate Guarantor's subsidiaries' Shariah-compliant purposes, which shall comprise the following:
- investments and other general corporate purposes;
- capital expenditure;
- working capital requirements;
- refinancing; and/or
- to defray any fees, costs and expenses in relation to the establishment of the Sukuk Wakalah Programmes and issuance of Sukuk Wakalah under the Sukuk Wakalah Programmes.
Maybank Investment Bank Berhad is the Principal Adviser, Lead Arranger and Lead Manager for the Sukuk Wakalah Programmes, whereas Maybank Islamic Berhad is the Shariah Adviser for the Sukuk Wakalah Programmes.
This announcement is dated 29 May 2026.