Alliance Investment Bank Wins Best Sukuk Restructuring Deal of The Year 2022

Alliance Investment Bank was the principal adviser, lead arranger and lead manager of MEX 1 Capital Berhad’s restructuring exercise

Kuala Lumpur, 21 February 2023 - Alliance Investment Bank has clinched the “Best Sukuk Restructuring Deal of The Year 2022” under the Islamic Finance category at the Alpha Southeast Asia 16th Annual Best Deal & Solutions Awards 2022.

(From L-R) Michael Ng, Chief Executive Officer of Alliance Investment Bank Bhd, Siddiq Bazarwala, Chief Executive Officer of Alpha Southeast Asia, Mohd Faiq bin Abu Sahid, Managing Director of Maju Expressway Sdn Bhd and Charanjeev Singh, Managing Director of New Paradigm Capital Markets Sdn Bhd at the Alpha Southeast Asia 16th Annual Best Deal & Solutions Awards 2022 Ceremony

The award was in recognition of Alliance Investment Bank’s role as the sole principal adviser/lead arranger and lead manager for MEX 1 Capital Berhad’s restructuring exercise which involved the RM1.126 billion (US$268 million) restructuring of Sukuk Musharakah via a Sukuk-for-Sukuk swap. MEX Capital is the concessionaire for the MEX Highway via its subsidiary, Maju Expressway Sdn Bhd.

MEX Highway is a 26 km open-toll expressway that connects central Kuala Lumpur (KL) to Putrajaya, Cyberjaya and KLIA. The Highway is linked to major routes and expressways such as the MRR1, the MRR2, the New Pantai Expressway, the Shah Alam Expressway, Putrajaya Link and the KL-Seremban Highway. It has six interchanges, with toll collection at three plazas, i.e. Salak South, Seri Kembangan and Putrajaya.

“Given the strategic value of MEX Highway, we are delighted to assist MEX 1 Capital Berhad in restructuring their sukuk obligations and this award is testament of our team’s commitment and strong partnership with our clients. Moving forward, we will be focusing on driving synergies in our corporate and capital market business to create more value for the customers we serve,” said Mr Michael Ng Chow Hon, Chief Executive Officer of Alliance Investment Bank.

Alliance Investment Bank’s capital markets business was transferred to Alliance Islamic Bank in April 2022, making it one of the few local Islamic banks with a full suite of in-house financing and capital markets solutions.

For more information on Alliance Islamic Bank, please visit https://www.alliancebank.com.my/islamic/home.