1.0 Introduction

OCK Group Berhad ("OCK" or the" Issuer") is pleased to announce that OCK had on 24 April 2024 lodged the required information and relevant documents relating to the ICP Programme with the Securities Commission Malaysia ("SC") pursuant to the Guidelines on Islamic Capital Market Products and Services issued by the SC on 28 November 2022 and revised on 8 February 2024 (as may be further amended or modified or revised or substituted from time to time) (“Guidelines on ICMPS”) and the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued on 9 March 2015, effective on 15 June 2015 and revised on 5 February 2024 (as may be further amended or modified or revised or substituted from time to time) (“LOLA Guidelines”).

2.0 Details of the ICP Programme

Tenure

The ICP Programme shall have a tenure of 7 years from the first issuance date. 

Status of the ICP Programme

The ICPs, pursuant to the relevant Transaction Documents, shall constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall rank at all times pari passu without discrimination, preference or priority amongst themselves and pari passu with all other present and future unsecured and unsubordinated obligations of the Issuer from time to time, subject to those preferred by law.

Availability period of the ICP Programme

The ICP Programme shall be available for issuance upon completion of the Transaction Documents (as defined in the section entitled “Other terms and conditions - Transaction Documents” under “Details of Facility / Programme”) and fulfillment of all the conditions precedent of the ICP Programme to the satisfaction of the Lead Arranger (unless otherwise waived or deferred by the Lead Arranger) until the expiry of the tenure of the ICP Programme provided that the tenure of any of the ICPs shall not extend beyond the maturity of the ICP Programme.

The first issuance of ICPs under the ICP Programme shall be made within ninety (90) business days from the date of lodgement with the SC (“Lodgement”) pursuant to the LOLA Guidelines or such other date as may be specified by the SC from time to time.

Option to upsize

The Issuer has the option to upsize the limit of the ICP Programme from time to time subject to the compliance of the conditions stated under the principal terms and conditions of the ICP Programme.

3.0 Utilisation of Proceeds

The proceeds raised from the ICP Programme shall be utilised for the following Shariah-compliant purposes:

a) To finance the following:

1. general working capital of the Issuer and/or its subsidiaries;
2. capital expenditure of the Issuer and/or its subsidiaries;
3. general corporate purposes of the Issuer and/or its subsidiaries;

b) To refinance the following:

1. existing Shariah-compliant financing and/or existing conventional borrowings of the Issuer and/or its subsidiaries; and/or
2. future Shariah-compliant financing of the Issuer and/or its subsidiaries;

c) To defray expenses in relation to the ICP Programme; and

d) To refinance maturing ICPs issued under the ICP Programme.

4.0 Rating

MARC Ratings has assigned a short-term rating of MARC-1Is to this proposed ICP Programme.

5.0 Advisers
Hong Leong Investment Bank Berhad is the Principal Adviser, the Lead Arranger and the Lead Manager for the ICP Programme.

This announcement is dated 25 April 2024.