KLANGGROUP Holdings Sdn Bhd (formerly WorldKlang Group Holdings Sdn Bhd), a home-grown property developer specialising in industrial land and factory development, has lodged its landmark RM3 bil Islamic medium-term notes (IMTN) programme with the Securities Commission Malaysia (SC).
Additionally, the exercise undertaken via wholly owned funding vehicle Klanggroup Capital Bhd also entails a RM1 bil Islamic Commercial Papers (ICP) Programme structured based on the shariah principle of Wakalah Bi Al-Istithmar. This marks the group’s maiden foray into the Islamic capital markets.
The Sukuk Wakalah Programmes have been assigned initial ratings of AA3(s)/Stable and P1(s) respectively by RAM Rating Services Bhd.
The enhanced ratings reflect Klanggroup’s credit profile as corporate guarantor with the guarantee constituting as a direct, unsubordinated and unconditional obligation ranking pari passu with Klanggroup’s other unsubordinated, unconditional and unsecured obligations.
Proceeds from the Sukuk Wakalah Programmes will be utilised for the group’s capital expenditure, working capital, general corporate purposes, project development, investments and asset acquisitions that are being undertaken and/or to be undertaken in the future.
The drawdown of the facilities is expected to be undertaken progressively throughout the tenure of the debt programme by taking into consideration among others, the prevailing investment and land-banking opportunities, working capital requirements and alternative funding avenues for the Group.
“For more than a decade, we’ve built Klanggroup on a simple conviction: that well-located, well-built industrial development creates lasting value for the businesses and communities around it,” recounted Klanggroup Holdings’ executive director Danny Ong.
“These maiden Sukuk Wakalah Programmes is the next chapter in that story – our first step into the Islamic capital markets and a vote of confidence in the foundations we have spent years building.”
Added Ong: “The Sukuk Wakalah Programmes offer a strong and flexible funding alternative to support the Group’s long term growth plans,” he added.
Hong Leong Investment Bank Bhd is the appointed principal adviser, lead arranger and lead manager for the Sukuk Wakalah Programmes. The programmes were also advised by Prof Datuk Dr Aznan bin Hasan as shariah adviser and Lee Choon Wan & Co as solicitors.
Klanggroup has more than a decade of operating history developing industrial land and factories for medium and large enterprises through its Excellent Technology Park and K International Industrial Park brands.
The group’s early-mover position in key industrial corridors, particularly Klang-Meru together with its proximity to Port Klang, has supported healthy take-up across property cycles, underpinned by a largely owner-operator buyer base.
As of end-December 2025, the group had completed or is undertaking projects spanning more than 800 acres with a combined gross development value (GDV) of over RM5 bil alongside remaining landbank of about 550 acres which carries an estimated GDV of RM3.4 bil.
2025 was a year of strategic preparation and intense execution by allowing the group to successfully deliver revenue of approximately RM900 mil, supported by the group’s in-house construction capabilities and disciplined execution. – July 6, 2026
