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Air Selangor received the Best SRI Sukuk – Water award at The Asset Triple A Islamic Finance Awards 2026
The award was for its RM1.5 billion SRI Sukuk Kelestarian transaction issued in October 2025.
The award was presented by The Asset, a leading Asian business and financial news organisation, with Air Selangor CEO Adam Saffian Ghazali and Yeoh Phee Leong, Head of Debt Markets from CIMB Investment Bank Berhad, receiving the accolade.
The transaction was jointly led by CIMB Investment Bank Berhad, Maybank Investment Bank Berhad, and Bank Islam Malaysia Berhad. Bank Islam also served as the Principal Adviser, Lead Arranger, and Shariah Adviser.
The RM1.5 billion issuance attracted RM3.77 billion in orders, equivalent to 2.51 times the amount issued
According to Air Selangor, the proceeds were allocated to eligible projects under its Sustainable Development Sukuk Kelestarian Framework, including the Rasau Water Supply Scheme and its pipe replacement programme.
The issuance was made under Air Selangor's RM20 billion Sukuk Murabahah Programme, which was rated AAA/Stable and P1 by RAM Ratings.
The rating was recently affirmed on 6 August, marking the sixth consecutive year that the programme had received the rating
"This recognition reflects the collective effort of the teams and partners involved in the sukuk issuance and reaffirms investors continuing confidence in Air Selangor's credit and sustainability agenda," said Adam Saffian.
He added that resilient water infrastructure required long-term investment supported by sustainable financing, clear governance, and reporting on the use of proceeds.
This was the second time Air Selangor received the Best SRI Sukuk – Water award
It previously won the same award at The Asset Triple A Islamic Finance Awards 2024 following the issuance of its fifth tranche of SRI Sukuk Kelestarian worth RM1 billion in October 2023.
In July 2026, Air Selangor also revised its Sustainable Development Sukuk Kelestarian Framework to Version 2.0.
The revised framework expanded the eligible financing categories to support Blue, Green, Social, and Sustainability Sukuk under a single platform.
Following a Second Party Opinion assessment, RAM Sustainability assigned the revised framework a Platinum Sustainable Finance Rating.
