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Mudajaya unit issues sukuk


PETALING JAYA: Mudajaya Group Bhd ’s unit, Sinar Kamiri Sdn Bhd, has issued its RM245mil green SRI sukuk wakalah at a coupon rate of between 4.96% and 6.35% per year.

The coupon will be payable semi-annually and the proceeds from the issuance of the sukuk will be utilised to part-finance its proposed project for the development of a large-scale solar photovoltaic energy-generating facility of 49MW in Kuala Kangsar, Perak.

“The issuance of the sukuk is not expected to have any material effect on the net assets and earnings per share of Mudajaya for the financial year 2018,” it said in a filing with Bursa Malaysia.

However, the gearing and interest cost for Mudajaya are expected to increase for FY18 and onwards,” it said in a filing with Bursa Malaysia.

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