Shah Alam, 7 July 2022 – Worldwide Holdings Berhad (“WHB”) has won The Asset Triple A Awards 2022 for Power/Utilities Deal of the Year category under the Sustainable Infrastructure Deals of the Year 2022 for Malaysia. The award recognises the RM2.7 billion syndicated term financing, Fresh Commodity Murabahah Term Financing-i Facility (the “Facility”) in relation to the development of Pulau Indah Power Plant (“PIPP”), a greenfield 1,200 MW Combined-Cycle Gas Turbine power plant project in Pulau Indah, Selangor.
The Facility is provided by Maybank Islamic Berhad, Bank Pembangunan Malaysia Berhad and UOB Malaysia, with Maybank Investment Bank Berhad as the Coordinating Arranger for the facility. With a capacity of 1,200 MW, PIPP is the largest power plant transaction closed in 2021 and is expected to be a key supplier of electricity upon its completion given its strategic location in the Klang Valley, which is the largest load center accounting for 43% of the total electricity demand in Peninsular Malaysia. The financing and development of PIPP is undertaken by Pulau Indah Power Plant Sdn Bhd, a joint venture company between WHB and Korea Electric Power Corporation (KEPCO).
Commenting on the award, WHB’s Group Chief Executive Officer Datin Paduka Norazlina Zakaria said, “We are honoured to be recognised by The Asset Triple A Awards for WHB’s role and commitment to sustainable financing in Malaysia.”
Norazlina also expressed her gratitude to the financiers and coordinating arranger for the facility as WHB’s participation in such a landmark transaction would not have been possible without the implicit trust placed upon the Group by the financial institutions.
The Asset Triple A Awards showcase companies that have excelled in their respective industries. The awards are adjudicated by The Asset’s board of editors and supplemented by client interaction generated from in-depth conversations using data analytics produced by Asset Benchmark Research. The Country Awards represents the industry’s most prestigious awards for banking, finance, treasury and capital markets.