TheEdge
KUALA LUMPUR: Hong Leong Bank (HLB), the exclusive appointed agent of Amanah Raya Bhd, has launched the Hong Leong Invest Safe II.
Hong Leong Safe II is a trust deposit for customers who make a placement that can potentially enjoy steady growth and enhance yield on their investments, the bank said in a statement ysterday.
“The first product launched with Amanah Raya in 2006 generated positive response from the public. We exceeded RM500 million in sales and our customers have been happy with the returns.
“On a gross basis, customers have been enjoying a steady return of 5% per annum. We’re confident the new product will equally excite our customers as we are targeting to deliver similar returns,” said Moey Tan, chief operating officer for personal financial services.
She said many customers favoured Invest Safe as it offers competitive dividends, compounding interest and the capital is protected.
The Hong Leong Invest Safe II is limited to RM300 million and is only available through HLB. — Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Showing posts with label AmanahRaya. Show all posts
Showing posts with label AmanahRaya. Show all posts
Wednesday, December 3, 2008
Thursday, June 26, 2008
ARB to list Islamic marine fund
TheEdge
KUALA LUMPUR: State-owned trustee company Amanah Raya Bhd (ARB) plans to list its newly-launched Safeena Islamic Marine Fund, a US$300 million (RM990 million) private investment scheme which will acquire and lease marine vessels, especially to oil and gas players.
The planned flotation, jointly undertaken by ARB’s unit AmanahRaya Investment Bank Ltd and Asian Finance Bank (AFB), would raise more money to buy more vessels, AmanahRaya Investment managing director Datuk Mohamed Azahari Kamil said.
“We hope that once Safeena has a credible track record, there could be a possibility that we could be submitting (an application) to the authorities for listing. In the the sector (oil and gas), we believe that there is a lack of funding ability at this point of time,” Mohamed Azahari told reporters yesterday at the launch of Safeena, and ARB’s 2007 annual report.
Safeena’s launch follows a memorandum of understanding between AmanahRaya Investment and AFB in October last year. Mohamed Azahari did not say when Safeena would be floated, only indicating that the exercise might be undertaken locally or abroad, depending on investors’ demands.
For a start, Safeena will secure about a third of its intended initial capital base of US$300 million from global investors, which may include pension funds. The balance will be derived from Islamic financing facilities.
Safeena, which targets annual returns of up to 10%, will have two earnings streams — recurrent leasing income from the charter of its marine vessels, and potential capital appreciation if the company sells its assets.
The unveiling of the 10-year close-end scheme is deemed timely. Soaring crude oil prices have prompted more oil and gas exploration leading to a shortage of support vessels globally. The scarcity, in turn, translates into higher charter rates.
Safeena, which has yet to secure any ships, hopes to land its maiden deal in three months. “We are currently evaluating proposals from various companies,” said Mohamed Azahari who assumed his current position at Labuan-based AmanahRaya Investment on June 2. He was formerly managing director and chief executive officer of AmanahRaya-JMF Asset Management Sdn Bhd.
Meanwhile, AmanahRaya Investment is also planning a US$100 million project development fund in collaboration with a South Korean investment bank. Mohamed Azahari said the fund would invest in property projects in China. He hoped that the fund would take off early next year.
ARB’s financials improved significantly in the year ended December 2007. Net profit more than doubled to RM111.43 million from RM42.97 million a year earlier after the group expanded its financial services portfolio, according to its annual report. Revenue also rose more than two-fold to RM249.63 million from 94.28 million.
Apart from its bread-and-butter portfolio, which includes estate administration and will writing, ARB also offers other services like asset management, personal financing, and property management.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: State-owned trustee company Amanah Raya Bhd (ARB) plans to list its newly-launched Safeena Islamic Marine Fund, a US$300 million (RM990 million) private investment scheme which will acquire and lease marine vessels, especially to oil and gas players.
The planned flotation, jointly undertaken by ARB’s unit AmanahRaya Investment Bank Ltd and Asian Finance Bank (AFB), would raise more money to buy more vessels, AmanahRaya Investment managing director Datuk Mohamed Azahari Kamil said.
“We hope that once Safeena has a credible track record, there could be a possibility that we could be submitting (an application) to the authorities for listing. In the the sector (oil and gas), we believe that there is a lack of funding ability at this point of time,” Mohamed Azahari told reporters yesterday at the launch of Safeena, and ARB’s 2007 annual report.
Safeena’s launch follows a memorandum of understanding between AmanahRaya Investment and AFB in October last year. Mohamed Azahari did not say when Safeena would be floated, only indicating that the exercise might be undertaken locally or abroad, depending on investors’ demands.
For a start, Safeena will secure about a third of its intended initial capital base of US$300 million from global investors, which may include pension funds. The balance will be derived from Islamic financing facilities.
Safeena, which targets annual returns of up to 10%, will have two earnings streams — recurrent leasing income from the charter of its marine vessels, and potential capital appreciation if the company sells its assets.
The unveiling of the 10-year close-end scheme is deemed timely. Soaring crude oil prices have prompted more oil and gas exploration leading to a shortage of support vessels globally. The scarcity, in turn, translates into higher charter rates.
Safeena, which has yet to secure any ships, hopes to land its maiden deal in three months. “We are currently evaluating proposals from various companies,” said Mohamed Azahari who assumed his current position at Labuan-based AmanahRaya Investment on June 2. He was formerly managing director and chief executive officer of AmanahRaya-JMF Asset Management Sdn Bhd.
Meanwhile, AmanahRaya Investment is also planning a US$100 million project development fund in collaboration with a South Korean investment bank. Mohamed Azahari said the fund would invest in property projects in China. He hoped that the fund would take off early next year.
ARB’s financials improved significantly in the year ended December 2007. Net profit more than doubled to RM111.43 million from RM42.97 million a year earlier after the group expanded its financial services portfolio, according to its annual report. Revenue also rose more than two-fold to RM249.63 million from 94.28 million.
Apart from its bread-and-butter portfolio, which includes estate administration and will writing, ARB also offers other services like asset management, personal financing, and property management.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, June 25, 2008
AmanahRaya plans China fund
BusinessTImes
AMANAHRAYA Investment Bank Ltd (ARIB) plans to issue a US$100 million (RM327 million) development fund in China by next year, its managing director and chief executive officer Datuk Mohamed Azahari Kamil said.
"It's a joint effort between AmanahRaya Investment Bank and a Korean investment bank. It should take off by early next year," he told reporters yesterday after the launch of AmanahRaya's Annual Report 2007 and the Safeena Islamic Marine Fund by Second Finance Minister Tan Sri Nor Mohamed Yakcop in Kuala Lumpur.
AmanahRaya, previously associated with mainly trustee and legal services, has widened its business to include estate management, property, investment and banking.
Mohamed Azahari said the two investment banks are studying whether the economic fundamentals are right to start raising the US$100 million fund in China, which will be used for property development in that country.
Prior to the launch of the Islamic Marine Fund, AmanahRaya had issued its first Islamic real estate investment trust (REIT) fund, which is already listed on Bursa Malaysia.
AmanahRaya also entered into a collaboration with Kuwait Finance House (Malaysia) Bhd last year to launch a US dollar-denominated Islamic real estate fund, called Al-Nibras.
According to Mohamed Azahari, an Islamic green fund and an Islamic aviation fund are in the pipeline.
ARIB, which was granted its investment banking licence on December 29 2006, started operations in April last year.
It is a licensed offshore bank under the auspices of the Labuan Offshore Financial Services Authority, with a paid-up capital of US$2.82 million (RM9 million).
In the financial year ended December 2007, ARIB made a pre-tax profit of US$3.97 million (RM13 million). It had accumulated total assets of US$197 million (RM644 million) as at end-2007.
AmanahRaya, meanwhile, registered a pre-tax profit of RM128.3 million last year, up 212 per cent from RM41.2 million in 2006. Its RM263.3 million revenue was a 140 per cent jump from RM109.9 million in 2006.
Mohamed Azahari said the strong revenue and profit growth was contributed by the performance of its subsidiaries.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
AMANAHRAYA Investment Bank Ltd (ARIB) plans to issue a US$100 million (RM327 million) development fund in China by next year, its managing director and chief executive officer Datuk Mohamed Azahari Kamil said.
"It's a joint effort between AmanahRaya Investment Bank and a Korean investment bank. It should take off by early next year," he told reporters yesterday after the launch of AmanahRaya's Annual Report 2007 and the Safeena Islamic Marine Fund by Second Finance Minister Tan Sri Nor Mohamed Yakcop in Kuala Lumpur.
AmanahRaya, previously associated with mainly trustee and legal services, has widened its business to include estate management, property, investment and banking.
Mohamed Azahari said the two investment banks are studying whether the economic fundamentals are right to start raising the US$100 million fund in China, which will be used for property development in that country.
Prior to the launch of the Islamic Marine Fund, AmanahRaya had issued its first Islamic real estate investment trust (REIT) fund, which is already listed on Bursa Malaysia.
AmanahRaya also entered into a collaboration with Kuwait Finance House (Malaysia) Bhd last year to launch a US dollar-denominated Islamic real estate fund, called Al-Nibras.
According to Mohamed Azahari, an Islamic green fund and an Islamic aviation fund are in the pipeline.
ARIB, which was granted its investment banking licence on December 29 2006, started operations in April last year.
It is a licensed offshore bank under the auspices of the Labuan Offshore Financial Services Authority, with a paid-up capital of US$2.82 million (RM9 million).
In the financial year ended December 2007, ARIB made a pre-tax profit of US$3.97 million (RM13 million). It had accumulated total assets of US$197 million (RM644 million) as at end-2007.
AmanahRaya, meanwhile, registered a pre-tax profit of RM128.3 million last year, up 212 per cent from RM41.2 million in 2006. Its RM263.3 million revenue was a 140 per cent jump from RM109.9 million in 2006.
Mohamed Azahari said the strong revenue and profit growth was contributed by the performance of its subsidiaries.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Country’s first Islamic shipping fund unveiled
TheStar
KUALA LUMPUR: Asian Finance Bank Bhd (AFB) and AmanahRaya Investment Bank Ltd, Labuan (ARIBL) has launched the first syariah-compliant shipping fund in Malaysia worth RM1bil.
ARIBL chairman Tan Sri Arshad Ayub said the fund would seek to provide stable returns through the acquisitions of high quality vessels under charter arrangements of seven to 10 years with established and credit-worthy charterers.
“AFB and ARIBL will jointly manage the fund,” he told reporters at the launch of the Safeena Islamic Fund in conjunction with the release of Amanah Raya Bhd Annual Report 2007 yesterday.
ARIBL managing director Datuk Mohamed Azahari Kamil said the shipping fund was a 10-year closed-end fund constituted via Safeena (L) Ltd, domiciled in Labuan.
“It will be offered via private placement and is intended to provide investors a chance to invest in a new class of syariah-compliant products,” he said. He added that investors were likely to come from the Middle East and Malaysia.
On the returns on investment, Azahari said the fund was expected to yield an annual dividend of up to 10%.
The first vessel could be acquired within a couple of months, he said, adding: “We are now looking at a few vessels.”
He also said there was a possibility that the fund size would need to be increased in time.
AFB acting chief executive officer Daud Vicary Abdullah said the fund gave investors the opportunity to enter the shipping, marine infrastructure and support services sectors.
“Our focus will be on offshore vessels, bulk carriers and tankers that have firm employment serving the oil and gas, dry bulk, chemical and commodity markets dealing with coal, iron ore and palm oil,” he said.
He added that the funds could be used to acquire new or second-hand vessels that met the investment criteria.
Safeena (L) Ltd chairman Datuk Abdul Latif Abdullah said charter rates for vessels, especially for dry bulk, were expected to remain high till at least 2011.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Asian Finance Bank Bhd (AFB) and AmanahRaya Investment Bank Ltd, Labuan (ARIBL) has launched the first syariah-compliant shipping fund in Malaysia worth RM1bil.
ARIBL chairman Tan Sri Arshad Ayub said the fund would seek to provide stable returns through the acquisitions of high quality vessels under charter arrangements of seven to 10 years with established and credit-worthy charterers.
“AFB and ARIBL will jointly manage the fund,” he told reporters at the launch of the Safeena Islamic Fund in conjunction with the release of Amanah Raya Bhd Annual Report 2007 yesterday.
ARIBL managing director Datuk Mohamed Azahari Kamil said the shipping fund was a 10-year closed-end fund constituted via Safeena (L) Ltd, domiciled in Labuan.
“It will be offered via private placement and is intended to provide investors a chance to invest in a new class of syariah-compliant products,” he said. He added that investors were likely to come from the Middle East and Malaysia.
On the returns on investment, Azahari said the fund was expected to yield an annual dividend of up to 10%.
The first vessel could be acquired within a couple of months, he said, adding: “We are now looking at a few vessels.”
He also said there was a possibility that the fund size would need to be increased in time.
AFB acting chief executive officer Daud Vicary Abdullah said the fund gave investors the opportunity to enter the shipping, marine infrastructure and support services sectors.
“Our focus will be on offshore vessels, bulk carriers and tankers that have firm employment serving the oil and gas, dry bulk, chemical and commodity markets dealing with coal, iron ore and palm oil,” he said.
He added that the funds could be used to acquire new or second-hand vessels that met the investment criteria.
Safeena (L) Ltd chairman Datuk Abdul Latif Abdullah said charter rates for vessels, especially for dry bulk, were expected to remain high till at least 2011.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Thursday, October 4, 2007
Plans to launch
BusinessTimes
AMANAHRAYA Investment Bank Ltd (AIB) plans to launch a RM1 billion Islamic fund next year that invests in environmentally friendly projects.
The "green" fund, likely to be the world's first such Islamic fund, will be managed together with Asian Finance Bank Bhd (AFB).
"The focus will be on carbon credit type of projects. We're looking at ethanol plants, waste-recycling plants as well as incinerators, both locally and abroad," AIB director Datuk Mohamed Azahari Kamil said.
AIB and AFB have taken the initiative to design the fund in Malaysia, with hopes that it will attract investors from the Middle East, the US and Europe, he said.
AFB chief executive officer Faisal Alshowaikh said there is already one such fund in the making elsewhere in the world.
As such, the AIB-AFB green fund could either be the first or second in the world, depending on when it will be launched.
The two banks intend to have it launched in the first half of 2008.
Azahari and Faisal spoke to reporters yesterday after the two companies signed a pact to develop a US$250 million (RM853 million) Islamic fund that will invest in ships.
The fund, the first of its kind in Malaysia and the region, will be set up by the end of this year, and is expected to generate an internal rate of return of 12-15 per cent.
The banks have already identified six vessels worth about RM615 million to be injected into the syariah-compliant marine fund. It may add another four to the portfolio, said Faisal.
The portfolio, which is fully investor-managed, will comprise ocean-going and coastal vessels, catering for the oil and gas sector and bulk cargo.
"The fund will provide opportunities for institutional and sophisticated retail investors globally to participate and take advantage of the growth in the marine sector," he said.
Middle Eastern investors will be targeted at a planned roadshow.
The financing structure of the fund, which may later be listed either locally or overseas, will be 70 per cent debt and 30 per cent equity, said Azahari.
Penang Port Sdn Bhd chairman Datuk Abdul Latif Abdullah, who has more than 30 years experience in the maritime business, has been appointed chairman of the fund.
AIB and AFB also entered into an Islamic Forward Binding contract yesterday, an Islamic hedging instrument that facilitates futures trading of commodities such as crude palm oil.
"For Amanahraya, this transaction is important in order for us to book in future foreign currency receivables at a favourable exchange rate as part of the hedging mechanism," said AIB chairman Tan Sri Arshad Ayub.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
AMANAHRAYA Investment Bank Ltd (AIB) plans to launch a RM1 billion Islamic fund next year that invests in environmentally friendly projects.
The "green" fund, likely to be the world's first such Islamic fund, will be managed together with Asian Finance Bank Bhd (AFB).
"The focus will be on carbon credit type of projects. We're looking at ethanol plants, waste-recycling plants as well as incinerators, both locally and abroad," AIB director Datuk Mohamed Azahari Kamil said.
AIB and AFB have taken the initiative to design the fund in Malaysia, with hopes that it will attract investors from the Middle East, the US and Europe, he said.
AFB chief executive officer Faisal Alshowaikh said there is already one such fund in the making elsewhere in the world.
As such, the AIB-AFB green fund could either be the first or second in the world, depending on when it will be launched.
The two banks intend to have it launched in the first half of 2008.
Azahari and Faisal spoke to reporters yesterday after the two companies signed a pact to develop a US$250 million (RM853 million) Islamic fund that will invest in ships.
The fund, the first of its kind in Malaysia and the region, will be set up by the end of this year, and is expected to generate an internal rate of return of 12-15 per cent.
The banks have already identified six vessels worth about RM615 million to be injected into the syariah-compliant marine fund. It may add another four to the portfolio, said Faisal.
The portfolio, which is fully investor-managed, will comprise ocean-going and coastal vessels, catering for the oil and gas sector and bulk cargo.
"The fund will provide opportunities for institutional and sophisticated retail investors globally to participate and take advantage of the growth in the marine sector," he said.
Middle Eastern investors will be targeted at a planned roadshow.
The financing structure of the fund, which may later be listed either locally or overseas, will be 70 per cent debt and 30 per cent equity, said Azahari.
Penang Port Sdn Bhd chairman Datuk Abdul Latif Abdullah, who has more than 30 years experience in the maritime business, has been appointed chairman of the fund.
AIB and AFB also entered into an Islamic Forward Binding contract yesterday, an Islamic hedging instrument that facilitates futures trading of commodities such as crude palm oil.
"For Amanahraya, this transaction is important in order for us to book in future foreign currency receivables at a favourable exchange rate as part of the hedging mechanism," said AIB chairman Tan Sri Arshad Ayub.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
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