Genting Plantations unit in RM1.2bil sukuk plan

KUALA LUMPUR: Genting Plantations Bhd’s wholly owned subsidiary, Benih Restu Bhd, has undertaken its first issuance of RM1.2bil in nominal value of Islamic medium-term notes (sukuk wakalah) under the sukuk wakalah programme of RM2bil in nominal value of the syariah principle of wakalah bi al-istithmar.

In a filing with Bursa Malaysia yesterday, it said the sukuk wakalah issued has a tenure of 10 years at a profit rate of 4.08% per annum.