Maju Expressway subsidiary to buy back sukuk

Bright Focus is a wholly owned subsidiary of Maju Holdings, in which Tan Sri Abu Sahid Mohamed (pic) is executive chairman.

PETALING JAYA: Bright Focus Bhd, the concession holder of the Maju Expressway (MEX), has proposed to restructure its Islamic debt papers in a bid to boost its rating back to investment grade.

Bright Focus yesterday proposed to buy back its current outstanding sukuk of RM1.225bil at its full nominal or par value. It plans to replace the sukuk with a proposed issuance of new sukuk.