Further to the announcement made on 28 October 2013, on behalf of the Board of Directors of MBSB, RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to clarify that the proposed 16-year Sukuk Commodity Murabahah Programme of up to RM4,000 million (“Sukuk Murabahah Programme”) to be undertaken by Jana Kapital Sdn Bhd (“Jana Kapital”) is merely to facilitate the issuance of the Structured Covered Sukuk under MBSB’s proposed 15-year Structured Covered Sukuk Commodity Murabahah Programme of up to RM3,000 million (“Structured Covered Sukuk Programme”).

Under the Structured Covered Sukuk Programme, the Structured Covered Sukuk will be issued in tranches from time to time and each tranche will be backed by identified eligible financing receivables held by Jana Kapital. As part of the transaction structure of the Structured Covered Sukuk Programme, the proceeds arising from the issuance of the Structured Covered Sukuk will be utilised for, amongst others, the subscription of the Sukuk Murabahah to be issued by Jana Kapital ("SPV Sukuk Murabahah") under theSukuk Murabahah Programme. Jana Kapital will utilise the proceeds arising from the issuance of the SPV Sukuk Murabahah to purchase eligible financing receivables from MBSB. MBSB will in turn use the sale proceeds of the eligible financing receivables for its working capital purposes, including funding of its origination of financing assets in line with its business activities.

Hence, the fundraising for MBSB will be solely from the Structured Covered Sukuk Programme whilst the Sukuk Murabahah Programme is set up to merely facilitate the issuance of Structured Covered Sukuk.


This announcement is dated 29 October 2013.