KUALA LUMPUR: Mah Sing Group Bhd has completed its issuance of secured and unrated Sukuk Murabahah of RM250 million in nominal value under its existing Sukuk Murabahah Programme.
In a filing to Bursa Malaysia today, the real estate developer said the Sukuk Murabahah has a five-year tenure and a fixed profit rate of 4.50 per cent per annum, payable semi-annually.
"The Sukuk Murabahah is secured by assets owned by the company's subsidiaries and certain designated accounts," it said.
Mah Sing said the proceeds raised from the issuance will be used for Shariah-compliant purposes, which may include land banking, capital expenditures, investments, and working capital of Mah Sing and its subsidiaries and associate companies, as well as the refinancing of the group's existing borrowings and redemption of the existing Sukuk Murabahah.