Oil and gas contractor, Vastalux Sdn Bhd, is issuing a RM100mil five-year Islamic bond to fund projects it has secured, mainly from Petronas Carigali Sdn Bhd.
“The money raised from the exercise will be used to finance existing contracts valued at approximately RM500mil,'' chairman Mohamad Nor Abdul Rashid told reporters at the signing of an agreement between Vastalux and lead arranger KAF Discounts Bhd in Kuala Lumpur yesterday.
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