PETALING JAYA: Mah Sing Group Bhd
has completed an issuance of secured and unrated sukuk murabahah of RM350mil in nominal value under the company’s existing sukuk murabahah programme.
In a filing with Bursa Malaysia, the property developer said that the sukuk murabahah had a tenure of five years and carried a fixed profit rate of 4.45% per annum, payable semi-annually.
The sukuk was secured by assets owned by the company’s subsidiaries and certain designated accounts.
“The proceeds raised from this issuance of sukuk murabahah will be utilised for syariah-compliant purposes which may include landbanking, capital expenditures, investments and working capital of Mah Sing and its subsidiaries and associate companies,” Mah Sing said.
