KUALA LUMPUR (Nov 6, 2025) — NCT Group of Companies has officially launched its maiden RM1 billion sukuk wakalah programme, marking a significant milestone in the group’s financial and strategic growth journey.
Malayan Banking Bhd (Maybank) has subscribed to the first tranche of up to RM390 million in unrated sukuk, underscoring investor confidence in NCT Group’s strong fundamentals and future project pipeline.
According to a company statement, the sukuk programme will enhance NCT Group’s funding flexibility, providing additional working capital to support its long-term expansion and broaden access to Malaysia’s domestic debt capital market.
“This sukuk programme gives us the flexibility to pursue new opportunities and drive NCT Group into its next phase of growth. We remain committed to delivering developments that create lasting value for our stakeholders,” said Datuk Seri Yap Ngan Choy, NCT Group’s founder and group managing director.
Maybank Investment Bank Bhd has been appointed as the sole principal adviser and lead arranger for the sukuk programme.
The sukuk launch complements NCT Group’s ongoing expansion into Malaysia’s industrial real estate sector, particularly through its flagship NCT Smart Industrial Park (NSIP) in Selangor.
In a separate announcement, the group confirmed the groundbreaking of Phase 2 of the 732.5-acre NSIP, a landmark development located within the Integrated Development Region in South Selangor (IDRISS).
Phase 2 carries an estimated gross development value (GDV) of RM2.5 billion and is scheduled for completion in 2029. The new phase builds upon the success of Phase 1, positioning NSIP as one of Malaysia’s most advanced industrial and logistics ecosystems.
“Given the scale and expectations of this project, we are determined to ensure that every phase is delivered on schedule as we continue shaping the nation’s industrial future,” Yap added.
Strategically located within South Selangor, NSIP is designed to become a next-generation industrial hub, offering smart infrastructure, sustainable design, and future-ready manufacturing spaces. The project will feature green-certified factories, automated logistics systems, and data-driven utilities management, aligning with Malaysia’s push toward Industry 4.0.
The development is expected to draw strong demand from businesses seeking industrial land in Selangor and industrial properties in the Subang area, given its proximity to major highways, ports, and logistics corridors. The park’s integrated master plan also supports ancillary commercial uses — from office space in Bukit Jalil to factory facilities in Puchong — reinforcing the state’s role as the country’s industrial and economic powerhouse.
NCT Group’s financing strategy reflects its long-term commitment to sustainability and capital discipline, ensuring that its industrial, residential, and commercial projects remain well-funded through innovative financing mechanisms like sukuk wakalah.
By aligning its financial structure with green and ethical investment principles, the group strengthens its reputation as a forward-thinking developer within Malaysia’s commercial property market, particularly across KL and Selangor.
With the RM1 billion sukuk programme now in place and the Phase 2 expansion of NSIP underway, NCT Group is well-positioned to spearhead Malaysia’s next wave of industrial and infrastructure-led growth.
Indonesia