Asset securitisation: Menara TM is one of four properties involved in the RM1bil financing programme by TM in 2008
Telekom Malaysia Bhd
(TM) and Tabung Haji are locking horns over a RM1bil sukuk ijarah programme raised in a TM-sponsored issuance where the latter is the largest institutional investor, according to a source.
The continued delays in finalising lease renewals to TM is now elevating the refinancing risk of the sukuk, which could potentially result in huge losses to the sukuk holders, particularly Tabung Haji.
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