Green Bond Fact Sheet

Pasukhas Group

Date: 09/07/2019

Issue date: 26-02-2019 Maturity date: 26-02-2029 Tenor: 10Issuer Name

Pasukhas Group

Amount Issued

MYR200m/USD49.2m

Country of risk

Malaysia

CBI Database

Included

Issuer Type1

Non-financial
corporate

Bond Type

Sukuk

Green Bond Framework

Green Sukuk
Framework

Second party opinion

RAM Consultancy

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☒ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☒ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☒ Other☒ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

Pasukhas will disclose information on the use of proceeds, project evaluation and selection,and management of proceeds to investors in an information memorandum and ensure thatsuch information is made publicly available from its designated website throughout thetenure of the Sukuk. It will also endeavour to provide annual reporting, via its website andother communication channels that the issuer may select, to investors on the following:(i) A brief description of the Eligible SRI Projects;(ii) The original amount earmarked for the Eligible SRI Projects;(iii) The amount utilised for the Eligible SRI Projects;(iv) The unutilised amount and where such unutilised amount is placed or invested pending
utilisation, if applicable;(v) Where feasible and to the extent possible, the impact objectives from the Eligible SRIProjects;(vi) Such other information that the Issuer may choose to provide.
In addition to the above, the Issuer shall report, on an annual basis, the environmental
benefits vis-à-vis e.g. the installed capacity and annual energy produced.

Company information

Pasukhas Group is a public company incorporated under the Companies Act in Malaysia. It
is listed in the ACE Market of the Bursa Malaysia Securities Berhad and is principallyengaged in the business of investment holding and the provision of management services.
Its subsidiaries are engaged in the Mechanical & Electrical Engineering services, Civil
Engineering and Construction services, Manufacturing of Low Voltage Switchboards,
Trading of Equipment and Coal, Renewable Energy and Property Development/Rental
segments.

Firsts, records andcertificationsFirst green bond/Sukuk from Malaysia in 2019.

Proceeds description

The proceeds will be used by the issuer to grow its portfolio of green assets. They may
finance several types of green projects. The selection of projects is defined as per theeligibility requirements prescribed under the Framework.

It is also the first ever to be guaranteed by Danajamin Nasional, Malaysia’s first financial
guarantee insurer.

Eligible categories include: renewable energy; energy efficiency; sustainable land
use/forestry/agriculture; biodiversity conservation; remediation/redevelopment ofcontaminated sites; water infrastructure, treatment and recycling; and waste management.
Pasukhas has identified a small hydropower plant with an installed capacity of 3.2MW at
Sungai Rek, Kelantan, as the first green asset to be financed via the Sukuk. Part of theproceeds shall be utilised towards the refinancing of a facility obtained for the constructionof that plant.

Climate Bonds view

It is good to see Malaysia’s green bond market growing further, although it is still relatively
small. Curiously though, there have been no repeat issuers from Malaysia so far.
This issuance is especially positive given that the issuer is a large corporate with operations
in several sectors. It will be interesting to see which assets Pasukhas Group decides tofinance, and whether it will issue more green bonds to fund other areas of its business inthe future. As the first green Sukuk guaranteed by Danajamin Nasional, it could also open
the doors to more issuers (and investors) for which risk is a key concern.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign