Evyap Malaysia to Issue MYR 500 Million Sukuk Wakalah; Rated AA-IS by MARC

Turkey-based personal care product manufacturer Evyap Group’s Malaysian subsidiary Evyap Sabun Malaysia (Evyap Malaysia) will be issuing an MYR 500 million Sukuk Wakalah programme, according to local media reports. Malaysian Rating Corporation (MARC) has assigned a preliminary rating of AA-IS with a Stable Outlook for the proposed Sukuk Wakalah programme.

Evyap Malaysia owns and operates an integrated oleochemicals manufacturing plant in Tanjung Langsat, Johor, which commenced production in 2015, and has a plant production capacity of 380,000 metric tonnes per annum (MT/pa) of fatty acids, 175,000 MT/pa of soap noodles, 36,000 MT/pa of glycerine and 108,000 MT/pa of bar soaps as of June 2020. Evyap Malaysia account...