Pestech International Announces Plans to Issue MYR 1 billion via a Perpetual Sukuk Musharakah Programme

Malaysian power infrastructure specialist Pestech International, with a market reach of over 22 countries, announced plans to issue perpetual Sukuk of up to MYR 1 billion in nominal value based on the Shariah principle of Musharakah.

The proceeds of the Sukuk issuance will go towards refinancing and working capital purposes.

According to a stock exchange filing released by the company on the 7th of July 2020, the pertinent information related to the Perpetual Sukuk Musharakah Programme was lodged with the Securities Commission (SC), based on the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued on the 9th of March 2015 and revised...