Home › Business › Business News
Thursday, 5 September 2013
KUALA LUMPUR: TH Heavy Engineering Bhd has proposed to issue non-rated Sukuk of up to RM170mil in nominal value at a profit rate of 7% per annum.
It said on Thursday it had mandated MIDF Amanah Investment Bank Bhd to be the principal adviser. MIDF Investment and Hong Leong Islamic Bank Bhd were mandated to act as joint lead arranger and joint lead manager for the Sukuk Murabahah.
TH Heavy also said the Securities Commission had authorised the issuance of the Sukuk Murabahah whose tenure would be three years from the date of the first and only issuance.
TH Heavy said the Sukuk Murabahah would be unrated, non-transferrable and non-tradable. The profit rate of 7% per annum would be paid semi-annually.
It added the proceeds from the issuance of the Sukuk Murabahah would be used to refinance part of the existing Islamic term financing and for working capital.
Companies using different strategies to hedge against strong US dollar
Japan exports grow most in year
Japan trade deficit swells to record in 2014
SP Setia to be selective in launches
Bank of England says lenders must do more to shore up cyberdefences
Plenty of great fun and adventure pursuits in Adelaide
Johannesburg named Rough Guides’ top city of 2015
Life’s a big joke for funnymen of 'Time Is Money'
Copyright © 1995-2015 Star Publications (M) Bhd (Co No 10894-D)