| Terms | Sukuk Prihatin |
|---|---|
| Issuer | Government of Malaysia (“Government”). |
| Instruments | Sukuk Prihatin (Scripless). |
| Utilisation of Proceeds | Proceeds from the Sukuk Prihatin will be channeled to the Kumpulan Wang COVID-19 to finance measures announced in the economic stimulus packages and recovery plan to address the COVID-19 crisis.
|
| Sukuk Size | Up to RM500 million in nominal value. |
| Subscription Period | 18 August to 17 September 2020. |
| Issue Date | 22 September 2020. |
| Islamic Principle | Commodity Murabahah (via Tawarruq). |
| Tenure/Maturity Date | The Sukuk Prihatin will have a maturity of two (2) years and will mature on 22 September 2022. |
| Target Investor (“Eligible Buyer or Applicant”) | Eligible Malaysian individuals and corporates. |
| Profit Rate to Investors | 2% per annum (fixed throughout the Tenure). |
| Frequency of Profit Payments to Investors | Quarterly from the Issue Date. The first profit payment will be on 22 December 2020. Profit payment will be credited directly into the Sukukholders’ account by the Primary Distribution Bank. |
| Minimum and Maximum Amount of Subscriptions | Each application/subscription (initial or subsequent thereafter) amount is at least a minimum of RM500 and in multiples of RM100. There is no maximum subscription limit. |
| Redemption | Principal amount will be credited directly into Sukukholders’ account on Maturity Date by the Primary Distribution Bank. |
| Transferability and Assignability | The Sukuk Prihatin are non-tradable, non-transferable and non-assignable. |
| Option to Waive Principle on Maturity Date | Sukukholders may waive the principal amount due (in part or in full) on Maturity Date, as a contribution to any Government trust account, approved by the Government (“Government Trust Account”). |
| Tax treatment accorded to Sukukholders | (a) All profit from the Sukuk will be tax exempted. (a) For any principal amount waived (in full or in part) by the Eligible Buyer or Applicant on Maturity Date, the waived amount will be allowed as deduction in the basis period for the year of assessment where the redemption of the Sukuk Prihatin is made. The above tax treatment is only applicable to the Eligible Buyer or Applicant and is not applicable to all Financial Institutions, Capital Markets and Services License holder carrying on the business of fund management under the CMSA and Registered Trustee who acts on behalf of the Eligible Buyer or Applicant. |
| Primary Distribution Bank | Malayan Banking Berhad (“Maybank”). |
| Distribution Banks | Participating banks as listed on the website. |
| Distribution Channels | Offering is fully digital via Internet/Mobile Banking via JomPAY/DuitNow platform of the Distribution Banks. |
| Governing Laws | Laws of Malaysia. |