Malaysian Resources Corporation Berhad Issues MYR 5 Billion Sukuk to Fund Business Growth and Future Requirements

Malaysian Resources Corporation Berhad (MRCB), a property development, facilities management and construction company based in Malaysia, is raising up to MYR 5 billion through a Sukuk Murabahah program to raise funding to meet future funding requirements as well as to fund business growth.

According to MRCB, proceeds from the Sukuk issuance will be utilized by MRCB and its subsidiaries towards general working capital, capital expenditure and other general corporate purposes, which shall be Shariah-compliant. 

The Sukuk Murabahah will be for a perpetual tenure and is accompanied by a preliminary rating of AA-IS by Malaysian Rating Corporation Berhad, according to a bourse filing made...