PETALING JAYA: TH Heavy Engineering Bhd has appointed MIDF Amanah Investment Bank Bhd to assist in the proposal to establish an issuance of up to RM70mil in non-rated sukuk under the Sukuk Murabahah programme.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/1/31/business/12650202&sec=business
Published: January 31, 2013
MIDF Amanah Investment is the principal adviser and lead arranger for the programme.
In its filing with Bursa Malaysia, TH Heavy Engineering via its wholly-owned unit THHE Fabricators Sdn Bhd, said the Securities Commission (SC) had authorised the proposed Sukuk Murabahah programme in a letter dated Jan 25.
However, the SC’s approval was subject to the programme’s compliance with the standard approval conditions and continuing obligations according to the Islamic Securities Guidelines.
The tenure of the Sukuk Murabahah programme is up to six years from the date of the first issuance, which will be made within one year from the date of the SC’s authorisation of the programme.
The Sukuk Murabahah is unrated, non-transferable and non-tradable.
THHE Fabricators will utilise the proceeds from the sukuk issuance to finance the improvement works on the Pulau Indah Integrated Fabrication Yard.
Additionally, it will be used to refinance its existing RM20mil bridging loan facility with MIDF Amanah Investment, its working capital requirements and the incidental expenses relating to the Sukuk Murabahah programme.
No comments:
Post a Comment