PETALING JAYA: Mah Sing Group Bhd
has completed the issuance of RM250mil secured and unrated sukuk murabahah under its existing sukuk murabahah programme.
In a filing with Bursa Malaysia, the property developer said the sukuk murabahah has a five-year tenure and carries a fixed profit rate of 4.25% per annum, payable semi-annually.
The sukuk is secured by assets owned by the company’s subsidiaries and 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, among others,” the firm said.
