PNB unit plans to raise RM2bil for tower project

This Oct 14 file picture shows Merdeka PNB 118 (Warisan Merdeka) building site's progress. The tower will comprise some of these features: 82 office floors, 18 floors for a 6-star hotel, and another 18 floors for the sky lobby, observation deck. Seven floors with a 900,000 square feet space has also been allocated for a shopping mall. - RAJA FAISAL HISHAN/The Star

PETALING JAYA: Permodalan Nasional Bhd’s (PNB) unit has proposed a sukuk programme to raise up to RM2bil to fund the construction of its Merdeka PNB118 tower project in Kuala Lumpur.

In a statement, the largest state-owned fund manager in Malaysia said its wholly-owned subsidiary PNB Merdeka Ventures Sdn Bhd (PNBMV) was planning to issue a 15-year tenure secured green sukuk, known as Merdeka Asean Green SRI Sukuk Programme, to fund the 83-storey office space, which would form part of the Merdeka PNB118 Tower project.