PETALING JAYA: Kimlun Corp Bhd
has issued Islamic commercial papers (ICP) with a nominal value of RM26.4mil under its existing Islamic commercial papers programme.
In a filing on April 28, the group said the issuance carries a tenure of six months and forms part of its ICP programme, which, together with its Islamic medium-term notes programme, has a combined limit of up to RM800mil.
The ICP programme is structured based on the Shariah principle of Murabahah via a Tawarruq arrangement, in line with the terms lodged with the Securities Commission Malaysia in October 2021.
Kimlun said proceeds from the issuance will be utilised for Shariah-compliant general corporate purposes, including working capital, capital expenditure and refinancing of existing borrowings across the group.
OCBC Al-Amin Bank Bhd is acting as the lead manager for the issuance.
The group noted that the exercise is part of its ongoing funding strategy to support operational and financial requirements.
