KUALA LUMPUR: Sunway Bhd
’s wholly-owned subsidiary, Sunway Velocity Three Sdn Bhd, has established an Islamic medium-term note programme of up to RM1 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar, namely, the Asean Green Sustainable and Responsible Investment (SRI) Sukuk Programme.
In a filing with Bursa Malaysia, the conglomerate said Sunway Velocity has lodged the required information and relevant documents related to the Asean Green SRI Sukuk Programme with the Securities Commission Malaysia (SC) pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.
"The proceeds from the issuance of the Asean Green SRI Sukuk Wakalah shall be utilised towards, inter-alia, part financing the total project costs in relation to the development of the three-block serviced apartments under the Sunway Velocity 3 project,” it said.
Sunway Velocity Three Sdn Bhd is a 60 per cent owned subsidiary of Sunway City Sdn Bhd.
United Overseas Bank (Malaysia) Bhd is the sole principal adviser, lead arranger and lead manager for the Asean Green SRI Sukuk Programme. - Bernama
