Danajamin to guarantee Riverson debt

Danajamin Nasional Bhd today signed an agreement to guarantee Riverson Corporation Sdn Bhd’s RM200 million five-year Private Debt Securities programme.

The signing ceremony was witnessed by Sabah Chief Minister Datuk Seri Musa Aman. Present were Danajamin Chairman Datuk Seri Abdul Hamidy Hafiz and Hong Leong Financial Group President & CEO Raymond Choong Yee How.

The agreement was signed by Riverson Managing Director Ben Kong and Executive Director Beto Patrick, while Danajamin was represented by its chief executive officer, Ahmad Zulqarnain Onn.

Hong Leong Investment Bank is the lead arranger for the bond programme.

Meanwhile, Musa commended Danajamin and Hong Leong for their confidence in the various development projects in Sabah, in particular, the much needed medical centre facilities and specifically the Gleneagles Medical Centre.

"The completion of the Gleneages Medical Centre will give the people in Sabah more options to medical services and facilties.

"It is also my hope that when completed this medical centre will provide exceptional medical care and facilities that would eventually spur the development of medical tourism in the state," he said.

Danajamin is the nation’s first Financial Guarantee Insurer, established by the government to be a catalyst to stimulate and further develop the domestic bond/sukuk market. Danajamin’s objective is to provide financial guarantee to bond/sukuk issuances, to help viable companies raise long term fixed rate funding from the bond market.

Abdul Hamidy said that Danajamin was pleased to support a viable and significant project in Kota Kinabalu.

"With the financial guarantee, Riverson, a property development company, can now raise bonds to finance the construction of its mixed integrated commercial development project in Kota Kinabalu," he said.

The proposed development consists of an international standard purpose built medical centre that will be operated by Parkway Group under the name of Gleneagles Medical Centre, Kota Kinabalu.

As part of its support facilities, office suites, SoHo and retail spaces would also be built under one roof, he added.

According to Ben Kong, with the latest architectural design, and the aesthetically elevating lifestyle development, Riverson was about connection, relation and wellness.

The uniqueness of the development allows boutique businesses to flourish and grow by providing reasonable sized retail, office space and SoHo units and other facilities to support the Gleneagles Medical Centre, and this gives a whole new direction for the future property developments in Sabah.

The state government’s participation in the medical centre’s development through state investment arm Warisan Harta Sabah Sdn Bhd as the co-owner of the hospital building, also reinforces the state's commitment in providing better healthcare facility and services to its population.

It also augurs well in making Sabah a vibrant medical tourism hub. -- Bernama