Sime Darby Property NEV (Holdings) Sdn Bhd (SDP NEV) has established a RM2.6 billion Sukuk Programme, the world’s first sukuk financing structure dedicated to data centre infrastructure. The sukuk programme is issued under a Green Finance Framework that was assigned a “Gold” Impact Assessment by MARC Solutions Sdn Bhd. Maybank Investment Bank Berhad (Maybank IB) and the Asian Development Bank (ADB) acted as Joint Sustainability Structuring Advisers in the establishment of SDP NEV’s Green Finance Framework which underpins the mobilisation of green financing for eligible sustainable projects, including hyperscale data centres as well as automated industrial and logistics facilities.
The framework establishes the guiding principles for the issuance of green financing instruments. It is aligned with internationally recognised standards, including the International Capital Market Association’s (ICMA) Green Bond Principles, the ASEAN Capital Markets Forum’s (ACMF) Green Bond Standards and the Securities Commission Malaysia’s Sustainable and Responsible Investment (SRI) Sukuk Framework. It also reflects SDP NEV’s commitment to financing projects that deliver measurable environmental benefits while advancing the group’s New Economy Venture (NEV) strategy.
MARC Solutions assigned the “Gold” Impact Assessment after evaluating the framework’s governance, eligible green project categories, management of proceeds, reporting commitments and anticipated environmental impact. The assessment reflects the framework’s strong alignment with recognised market standards and best practices, providing investors and other stakeholders with an independent expert opinion on its environmental integrity and implementation.
Arshad Mohamed Ismail, Group Chief Executive Officer of Malaysian Rating Corporation Berhad and Executive Director of MARC Solutions, remarked, “The establishment of SDP NEV’s Sukuk Programme marks an important milestone in the financing of sustainable digital infrastructure in Malaysia. As investment in hyperscale data centres and other new-economy assets continues to accelerate, it is increasingly important that such financing is underpinned by credible green finance frameworks that promote transparency, accountability, and measurable environmental outcomes. This underscores the growing role of sustainable finance in supporting the strategic infrastructure needed to drive Malaysia’s digital economy while advancing the nation’s broader sustainability agenda.”
“Independent impact assessments provide investors and other stakeholders with greater assurance that green financing frameworks are aligned with internationally recognised standards and incorporate robust governance, clear project selection criteria and meaningful impact reporting. As sustainable finance continues to evolve, such assessments will play an increasingly important role in strengthening market confidence, supporting informed investment decisions and fostering the continued growth of Malaysia’s sustainable capital market,” he added.
Dato’ Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property Berhad, said, “We are the first developer in Malaysia to bridge sukuk financing with an institutional real estate private equity structure, supported by a “Gold”-graded Green Finance Framework that reinforces our commitment to sustainable growth and disciplined capital management. The RM2.6 billion Sukuk Programme marks a defining milestone in our SHIFT32 transformation, strengthening Sime Darby Property’s position in the rapidly growing new economy sector. As the general partner and manager of the NEV Fund, we are creating an institutional investment platform that enables us to develop high-quality build-to-suit assets required by global technology operators programmatically.”
SDP NEV, a member of Sime Darby Property Berhad’s NEV platform, was established to advance the group’s NEV strategy by developing institutional-grade, income-generating assets in high-growth sectors. Its portfolio includes hyperscale data centres and automated industrial and logistics facilities strategically located within Sime Darby Property’s integrated townships.
SDP NEV’s Sukuk Programme demonstrates how Malaysia’s capital market can channel sustainable financing into next-generation digital infrastructure, setting a global benchmark as the world’s first sukuk financing structure dedicated to data centre infrastructure. By assessing a green finance framework purpose-built for this emerging asset class, MARC Solutions is helping to bring the rigour of sustainable finance to one of the fastest-growing sectors of Malaysia’s new economy.