Mah Sing Group Bhd has announced the successful completion of its RM250 million sukuk murabahah issuance under its existing sukuk murabahah programme. This latest exercise underscores the group’s continued efforts to strengthen its financial position and support future growth through syariah-compliant financing instruments.
In a filing with Bursa Malaysia, the property developer confirmed that the sukuk carries a five-year tenure and offers a fixed profit rate of 4.25% per annum, payable on a semi-annual basis.
The sukuk is secured by assets owned by Mah Sing’s subsidiaries along with designated accounts, providing a level of assurance to investors.
According to the group, the proceeds from this issuance will be used strictly for syariah-compliant purposes. These may include land acquisition, capital expenditure, strategic investments, and general working capital requirements across Mah Sing and its subsidiaries, as well as associate companies.
The successful completion of this sukuk issuance reflects investor confidence in Mah Sing’s long-term strategy and its disciplined approach to financial management.
-The Star
