Cahya Mata Sarawak issues RM500mil sukuk

Moody's outlook on the Korean banking system has been negative since May 2016.

KUALA LUMPUR: Cahya Mata Sarawak Bhd has made its first sukuk issuance amounting to RM500mil in nominal value.

In a filing with Bursa Malaysia on Friday, the company said the sukuk, with five-year tenure, was issued under its Islamic medium term notes programme of up to RM2bil in nominal value.

It said the proceeds raised would be utilised for financing of capital expenditure, working capital requirements and/or general corporate purposes of the group. - Bernama