Our Milestones: Key achievements
Prokhas’ initial role after its establishment in 2006 under Minister of Finance, Incorporated (MoF, Inc.) was to continue the recovery efforts on the residual assets of Pengurusan Danaharta Nasional Berhad (“Danaharta”) after its successful completion in 2005. Determined to achieve greater heights, we have strived to maintain an agile and open organisation while ensuring that the mandate entrusted upon us is carried out in good faith.
We have boldly explored new ventures and successfully broadened our services into various industries especially in advisory and consultancy services in order to better align with current and future business conditions. In Our Milestones, we share with you the progress of our journey towards our goal on achieving long-term sustainability and continuous corporate growth.
Appointed as Financial Advisor and Manager to DanaInfra Nasional Berhad ("DINB") to raise funds to finance the construction of the Klang Valley Mass Rapid Transit ("MRT") Project – Sg Buloh – Kajang Line (“MRT Line 1”) and Sg Buloh – Serdang – Putrajaya Line (“MRT Line 2”) on 20 June 2011 and 29 December 2014. To date, Prokhas has successfully managed seventeen (17) series of issuance under DINB’s RM61.0 billion Government Guaranteed Islamic Commercial Papers and Islamic Medium Term Notes Programme ("ICP/IMTN Programme") amounting to RM52.32 billion IMTN (including Retail Sukuk of up to RM500.0 million) and ICP of up to RM1.42 billion, with competitive rates. DINB was awarded the Best Project Finance Deal of The Year 2012, the Best Islamic Finance Deal of The Year 2013 & the Best Bond Deal of The Year 2013 for Retail Investors in Southeast Asia by Alpha Southeast Asia. DINB was also the recipient of the Best Local Currency Sukuk Award in The Asset Triple A Islamic Finance Award 2013 and the Malaysia Deal of The Year 2013 Award by the Islamic Finance News, the Best Government-Guaranteed Sukuk in the Asset Asian Awards 2017 and the Top Traded Amount (All & Islamic) in the Bond Pricing Agency Malaysia Bond Market Awards 2019. DINB Sukuk Pricing rates competitiveness as against the Government Guaranteed peers has also been validated by an independent audit conducted by PricewaterhouseCoopers Advisory Sdn Bhd in its report dated 19 September 2017.
Appointed as Financial Advisor and Manager to DINB to structure a financing programme and raise funds to part-finance the construction of Pan Borneo Highway Sarawak (Phase 1) on 27 April 2016. The funding is undertaken via the Government Guaranteed RM13.0 billion Islamic Commercial Papers and Islamic Medium Term Notes Programme (“ICP/IMTN Programme”) with a backstop RM4.0 billion Islamic Revolving Credit Facility. To date, Prokhas has successfully managed three (3) series of IMTN issuance of up to RM8.0 billion and ICP issuance of up to RM3.0 billion under the RM13.0 billion ICP/IMTN Programme at competitive rates. For the inaugural IMTN issuance of up to RM2.5 billion in 2018, DINB was awarded the Best Transport Deal of the Year under the Country Deal Awards ASEAN Category in The Asset Triple A Asia Infrastructure Awards 2019 and the Best Islamic Project Finance Deal of the Year for Malaysia in The Asset Triple A Islamic Finance Awards 2019.
Appointed as Financial Advisor to Lembaga Pembiayaan Perumahan Sektor Awam (“LPPSA”) on 21 June 2016, to structure a financing programme comprising the Islamic Commercial Papers and Islamic Medium Term Notes Programme (“ICP/IMTN Programme”), Conventional Commercial Papers and Conventional Medium Term Notes Programme (“CP/MTN Programme”), Syndicated Revolving Credit-i Facility and Syndicated Credit Facilities for an aggregate combined limit of up to RM25.0 billion with Government Guarantee. Prokhas has successfully managed LPPSA’s ICP/IMTN maiden issuance of up to RM4.0 billion and RM2.44 billion drawndown from the RC-i Facility and Credit Facilities, at competitive rates.
Appointed as Financial Advisor and Manager to SDE Solutions Sdn Bhd (“SDES”) to structure Term Loan Financing on 26 February 2014. Prokhas has successfully structured a 2-tier financing of a Term Loan Financing Facilities of up to RM150.0 million.
Continue to undertake the recovery of Danaharta’s residual assets. As at 30th September 2019, Prokhas has collected approximately RM4.277 billion and has surpassed the original target of RM2.88 billion.
Appointed to provide Credit and Loan Management Advisory Services to Strategic Investment Division (“SID”) of Ministry of Finance from January 2014 until December 2018.
Assisted in ABRAR’s recovery efforts until 31 December 2012. In total, out of approximately RM2.1 billion outstanding from the borrowers of ABRAR, RM1.6 billion has been settled. ABRAR has fully repaid its loans to Bank Negara Malaysia (BNM) amounting to RM1.5 billion.
Manage the operations of Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) that provides guarantee on behalf of the Government for the following Guarantee schemes:
Working Capital Guarantee Scheme (WCGS) and Industry Restructuring Financing Guarantee Scheme (IRFGS)
under the Second Stimulus package amounting to RM10.0 billion
10MPWCGS under the 10th Malaysia Plan with an additional allocation of RM3.0 billion
Services Sector Guarantee Scheme (SSGS) with allocation of RM7.0 billion transferred to Working Capital
Guarantee Scheme 2 (WCGS2)
Working Capital Guarantee Scheme- Extension (WCGS-Extension) with an allocation of RM7.0 billion transferred
to Working Capital Guarantee Scheme 2 (WCGS2)
Working Capital Guarantee Scheme 2 with a total allocation of RM17.5 billion
Working Capital Guarantee Scheme – StartUp (WCGS-SU) with allocation of RM200 million
Automation Process Guarantee Scheme (APGS) with allocation of RM3.0 billion
Working Capital Guarantee Scheme – Bumiputera (WCGS-Bumi) with allocation of RM1.0 billion
As at 30 September 2019, 18,234 loan accounts amounting to RM21.709 billion have been approved under WCGS, IRFGS, 10MPWCGS, SSGS, WCGS-Extension, APGS, WCGS-SU, WCGS2 and WCGS-Bumiputra.
In addition to the above Guarantee schemes, SJPP is also managing a 2% interest/ profit rebate programme for export-oriented companies whereby rebate is given on interest/profit rates charged to SME borrowers under the SJPP GoM schemes. The programme is limited to a total accumulated funding of RM1 billion which involves an allocation of RM100 million for a period of five years with effect from 1 June 2017.
Manage the operations of Syarikat Jaminan Kredit Perumahan Berhad (SJKP) that provides guarantee on behalf of the Government to participating banks which extend house financing to eligible non-fixed income earners. As at 30 September 2019, 7,012 loan accounts amounting to RM447.931 million have been approved.
Established and operationalised companies under Government initiatives including DanaInfra Nasional Berhad, Ekuiti Nasional Berhad, Malaysian Global Innovation & Creativity Centre Berhad, Mass Rapid Transit Corporation Sdn Bhd, Syarikat Jaminan Pembiayaan Perniagaan Berhad, Syarikat Jaminan Kredit Perumahan Berhad and Pengurusan Aset Air Berhad.
Appointed as an Advisor / Consultant to Pembinaan BLT Sdn Bhd for Aman Sukuk Berhad’s RM10.0 billion AAA Sukuk Programme.
Obtained ISO/IEC 20000-1:2011 for IT service management system for IT shared services.
Project manage the divestment of selected Government owned Companies in line with the National target of increasing private-sector participation in the economy in 2013, 2015 and 2017.
Conducted a study on the remuneration gap of selected Government-Owned Group of Companies in 2016.
Conducted a study on the Government-Owned Venture Capital Companies pertaining to the current state of the nation’s public funding landscape in 2016.
Appointed to provide Advisory Services to a division in Ministry of Finance since 2016.
Conducted a high-level landscape assessment on Intellectual Property related financing in Malaysia particularly on the issue of financing start-ups based on IP valuation in 2017.
Conducted evaluation on two (2) Public Transportation Funding Schemes to evaluate the effectiveness, impact and sustainability of the schemes.
Appointed as Independent Checking Expert to review and verify payment obligations of a land transport company for Ministry of Finance in 2018.
Conducted a Current State Assessment of a healthcare travel council in Malaysia in 2018.
Conducted a Current State Assessment on a Healthcare Travel Council to obtain an overview of the Company’s strategic, financial and operational matters for Ministry of Finance in 2018.
Conducted a Financial and Legal Review of a Local Translation company in Malaysia for the Ministry of Finance in 2019 to gauge the potential impact of the proposed disposal options to MoF Inc.
Appointed as secretariat for the Request for Proposal for a MoF Inc. company for a partnership for the development and operation of a truck depot at Kedah for Ministry of Finance in 2019.
Reviewed potential compensation and identified two (2) appropriate assessment approaches to assist the Government in formulating a fair and reasonable compensation range for an armed forces institution for an enforcement system project in 2019.