NT-2112-00020

MR4

SME - AFJETS SDN BHD, Transportation,

RM 500,000 for 36 month term. RM 500,000 funded

100 % Funded

Is this a Shariah-compliant Investment Note? / Adakah ianya Nota Pelaburan patuh Syariah?

Yes

Who is the Issuer and what does the business do?

AFJETS Sdn. Bhd. is an aviation based company that provide aviation related services including weather modification (cloud seeding), medivac and flight charters.

Who is the owner / key person(s) in the business?

Amirul Nizar Anuar, CEO of AFJETS, has been involved in the aviation industry for the last 15years. It is the only company that is involved in weather modification (cloud seeding during drought seasons) and civilian that owns a fighter jet. He is a licensed pilot for both helicopters and plane having piloted Red Bull's acrobatic aircraft, providing job opportunities to locals.

Dato' Lee Chung Han, was the CFO/ Director of Tune Group and Special Assistant of Tan Sri Tony Fernandes. He is the CEO of SMGB Group and Chairman of Guardian Group involved in mining, healthcare and telco towers.

What are their future plans?

AFJETS plans to develop its weather modification forte, to help reduce the impact of floods in the same way its does cloud seeding during the drought seasons. It also plans to carry out aircraft charter for the Haj season and cargo charter business.

What has been their annual sales turnover?

AFJETS has generated sales of RM9,666,299, RM9,871,324 and RM18,643,288 for the FY2018, 2019 and 2020 with profit of RM643,136, RM3,019,030 and RM1,393,268 respectively.

Number of years in business?

AFJETS has been in business for 15 years since 2006.

How would the Issuer utilise the funds raised on the platform?

The funds raised will be used to develop its weather modification know how to reduce the impact of natural disasters such as flood and drought caused by global warming.

The rationale behind the Issuer's Credit Risk Score - microLEAP's Comments

N/A

Credit Ratings

MR4

Medium Risk 4

This Investment Note pays a medium-low Interest Rate and has a medium-low Risk of Default.
It has a medium-strong Credit Quality due to average to good cashflow and average to good Debt Service Ratio.
.

LR1

Low Risk 1

This Investment Note pays the lowest Interest Rate and has the lowest Risk of Default.
It has the strongest Credit Quality due to very high cashflow and very low Debt Service Ratio.

LR2

Low Risk 2

This Investment Note pays a lower Interest Rate and has a lower Risk of Default.
It has a stronger Credit Quality due to high cashflow and low Debt Service Ratio.

LR3

Low Risk 3

This Investment Note pays a low Interest Rate and has a low Risk of Default.
It has a strong Credit Quality due to good cashflow and good Debt Service Ratio.

MR4

Medium Risk 4

MR5

Medium Risk 5

This Investment Note pays a medium Interest Rate and has a medium Risk of Default.
It has a medium Credit Quality due to average cashflow and average Debt Service Ratio.

MR6

Medium Risk 6

This Investment Note pays a medium-high Interest Rate and has a medium-high Risk of Default.
It has a medium-weak Credit Quality due to below average cashflow and above average Debt Service Ratio.

MR7

Medium Risk 7

This Investment Note pays an upper-medium Interest Rate and has an upper-medium Risk of Default.
It has a lower-medium Credit Quality due to average to low cashflow and average to high Debt Service Ratio.

HR8

High Risk 8

This Investment Note pays a high Interest Rate and has a high Risk of Default.
It has a weak Credit Quality due to low cashflow and high Debt Service Ratio.

HR9

High Risk 9

This Investment Note pays a higher Interest Rate and has a higher Risk of Default.
It has a weaker Credit Quality due to lower cashflow and higher Debt Service Ratio.

HR10

High Risk 10

This Investment Note pays the highest Interest Rate and has the highest Risk of Default.
It has the weakest Credit Quality due to very low cashflow and very unhealthy Debt Service Ratio.