PTP Plans to Raise MYR 1.9 Billion through a Sukuk Issuance in 2020

Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), a member of MMC Corp (MMC), is preparing to raise MYR 1.9 billion from a Sukuk issuance this year. 

According to local media reports, the expected Sukuk issuance will be utilized towards refinancing the upcoming maturity of PTP’s MYR 1.5 billion Islamic medium-term notes Sukuk programme, which was raised to fund the port’s capacity expansion.

PTP, a 70:30 joint venture between MMC and APM Terminals, has grown to be an integral part of MMC’s expansive ports and logistic businesses in Malaysia.

According to industry experts, PTP was strategically important as a pivotal trade gateway in sout...