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Friday December 16, 2011

Scomi gets nod for RM343mil sukuk plan

PETALING JAYA: Scomi Group Bhd has received approval from the Securities Commission to issue sukuk worth RM343.1mil in nominal value with tenure ranging from one to seven years.

The sukuk will be issued via its indirect subsidiary KMCOB Capital Bhd, which is a wholly-owned subsidiary of Scomi Oiltools Bermuda Ltd. The latter is a wholly-owned subsidiary of Scomi Oilfield Limited, which in turn is a 76.1% subsidiary of Scomi Group.

Hong Leong Investment Bank Bhd has been appointed as the lead arranger and principal adviser for the proposal.

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