AEON Credit Service (M) Bhd has successfully issued its 11th senior sukuk, raising RM200 million under a five-year tenure, as part of its ongoing sukuk wakalah programme. The company confirmed the issuance in a filing to Bursa Malaysia on Tuesday, highlighting that the proceeds will be used in full compliance with Shariah principles to support financing disbursements and other corporate needs.
According to the filing, the funds raised from the sukuk will also be allocated to refinance any existing loans or financing, including previous sukuk issuances, ensuring that all transactions under the sukuk wakalah programme adhere strictly to Shariah-compliant standards. This move reflects AEON Credit’s continued focus on responsible financial management and leveraging Islamic finance instruments to support its growth and operational needs.
The 11th sukuk forms part of AEON Credit’s larger sukuk wakalah programme, which was recently expanded from RM2 billion to RM5 billion to accommodate future fundraising and refinancing requirements. This upsizing provides the company with increased flexibility to manage its funding needs and capital structure in a way that aligns with its strategic objectives.
Following the announcement, AEON Credit’s shares closed down five sen, or 0.9%, at RM5.50, giving the company a market valuation of RM2.81 billion. The stock has experienced a year-to-date decline of 11.9%, reflecting broader market conditions affecting the financial services sector.
By issuing this sukuk, AEON Credit not only strengthens its capital base but also demonstrates its commitment to sustainable and Shariah-compliant financing solutions, which can enhance investor confidence and provide a foundation for long-term growth. This latest issuance continues the company’s track record of successfully raising funds through Islamic finance instruments, reinforcing its position as a leading player in Malaysia’s consumer finance market.
