FGV issues first sukuk murabahah

FGV said in a filing with Bursa Malaysia that proceeds raised from the issuance on Dec 31, 2021, have been used to refinance its existing financing or borrowing.

PETALING JAYA: FGV Holdings Bhd made the first issuance of RM500mil nominal value sukuk murabahah pursuant to its sukuk murabahah programme at the end of last year.

FGV said in a filing with Bursa Malaysia that proceeds raised from the issuance on Dec 31, 2021, have been used to refinance its existing financing or borrowing.

“For avoidance of doubt, the utilisation of the proceeds of the sukuk murabahah programme shall at all times be for syariah-compliant purposes,” it said.

“The RM500mil sukuk murabahah issuance will not have any effect on the issued and paid-up capital of FGV and/or the substantial shareholders’ shareholding in FGV,” it added.

FGV had in December last year lodged with the Securities Commission (SC) for the proposed establishment of the sukuk murabahah programme after receiving the endorsement of the SC’s Shariah Advisory Council for the programme.