Gading Kencana eyes green sukuk, Bursa listing to power growth

Gading Kencana eyes green sukuk, Bursa listing to power growth – diversifying its funding sources to support its growth

Speaking at the recent Sixth International Sustainable Energy Summit (ISES) 2024, MD Datuk Dr Ir Muhamad Guntor Mansor Tobeng (picture) revealed that the company Gading Kencana eyes green sukuk  and bonds as key instruments to finance its expanding portfolio.

Additionally, the company is also considering equity investment through a listing on Bursa Malaysia, which would allow the company to raise capital from a broader investor base and enhance its visibility in the market.

“Our future financing plans are centred around diversifying our funding sources.

“By leveraging green sukuk, equity investments and blended finance, we aim to ensure that we have the financial resources needed to continue leading Malaysia’s energy transition through innovation,” he said.

Last year, Gading Kencana secured RM91.5 million in financing from Bank Islam Malaysia Bhd for its Sandtown Solar project in Bidor, Perak, which integrates Environmental, Social and Governance (ESG) principles.

The company plans to explore blended finance models to support high-risk, early-stage projects, including those in electric vehicle (EV) charging stations, energy storage and green hydrogen.

Muhamad Guntor also mentioned that Bank Islam recently approved an additional RM115 million for a 30 megawatt (MW) solar farm under Gading HBA Sdn Bhd, indicating continued financial backing for Gading Kencana’s growth plans.

He mentioned governance as one of the key aspects that underpins the company’s success, ensuring accountability at every stage of the project, from planning to execution.

“Our strong governance framework reassured Bank Islam that the project would be managed responsibly, mitigating risks and ensuring its long-term viability,” he added.

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