TH Plantations issues RM1bil sukuk to Tabung Haji

KUALA LUMPUR: TH Plantations Bhd has issued RM1bil of sukuk murabahah to parent company Lembaga Tabung Haji (LTH) to raise funds for its subsidiaries to repay their bridging loans.

The plantations firm said in a statement to Bursa Malaysia that the RM1bil sukuk was part of the sukuk murabahah programme of up to RM1.2bil in nominal value set up by its unit, THP Suria Mekar Sdn Bhd, with LTH.

RHB Investment Bank Bhd has been appointed as the principal adviser, lead arranger, facility agent and lead manager for the sukuk programme.

In separate announcements, TH Plantations said it had appointed as directors LTH deputy group managing director and chief executive officer Datuk Johan Abdullah, Datuk Md Yusop Omar and Datuk Shari Osman.

TH Plantations closed at RM1.56 on Friday, up 1 sen.