Mudajaya unit to raise up to RM245m green SRI Sukuk


KUALA LUMPUR: Mudajaya Group Bhd's unit has proposed to raise up to RM245mil green SRI Sukuk Wakalah to build a  large scale solar photovoltaic (PV) energy generating facility of 49MWac in Sungai Siput, Kuala Kangsar.

It said on Tuesday the Sukuk Wakalah shall be issued by Sinar Kamiri Sdn Bhd on a one-off basis, whereby it may comprise one or more series having the same issue date but different maturity dates. 

Sinar Kamiri, whose principal activity is power generation, had on Nov 7, 2017, lodged the proposal for the Sukuk Wakalah with the Securities Commission.

The tenure of each series of the Sukuk Wakalah shall be up to 18 years from the date of issuance. 

The proceeds raised from the proposed issuance of the Green SRI Sukuk Wakalah will be utilised by Sinar Kamiri to part finance the PV project.

The Sukuk Wakalah was assigned a long term preliminary rating of AA-IS by Malaysian Rating Corporation Bhd.

AmInvestment Bank Berhad is the sole principal adviser; AmInvestment Bank and United Overseas Bank (Malaysia) Bhd are the joint lead arrangers and joint lead managers.

AmInvestment Bank, which is backed by AmBank Islamic’s Shariah committee, is the Shariah adviser.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Oil heads for weekly gains on anxiety over intensifying Ukraine war
S&P lowers outlook on three Adani units after US indictment of founder
Bumi Armada posts higher net profit of RM211.33mil in 3Q
Affin Bank's net profit jumps 45% to RM145.82mil in 3Q
KLCI remains positive as heavyweights bounce higher
Malaysia's inflation comes in at 1.9% in Oct
Globetronics shares rally in early trade after Taiwan deal
Nissan to cut or transfer about 1,000 jobs in Thailand, sources say
Singapore Q3 GDP up 5.4% y-o-y, higher than advance estimate; 2024 forecast upgraded
Ringgit extends uptrend against greenback in early trade

Others Also Read