mInvestment Research is upbeat on the outlook of IOI Properties Group, anchored by a strong contribution from its property development projects, particularly in China and Singapore, stable income from property investments and its growing leisure and hospitality business.
KUALA LUMPUR: IOI Properties Group Bhd
's unit Fortune Premiere Sdn Bhd had on Thursday issued RM100mil in nominal value of Sukuk Murabahah.
It said the issuance was based on the Shariah principle of Murabahah (via Tawarruq arrangement) under its Sukuk Murabahah programme.
The programme was set up with a tenure of up to 15 years from the date of the first issuance.
IOI Properties said the tenure of the RM100m Sukuk was five years and the yield-to-maturity of 4.65%. The profit rate is 4.65%.
The proceeds raised from the first issuance shall be used for capital expenditure; working capital requirements; refinancing existing borrowings; general corporate purposes.
RHB Investment Bank Bhd is the sole principal adviser and sole lead arranger for the programme and the sole lead manager for the first issuance.
Limited time offer:
Just RM5 per month.
