Uzma Berhad Planning to Raise Up to MYR 300 Million Via a Perpetual Sukuk Musharakah Programme

Malaysia-based oil and gas contractor Uzma Berhad (Uzma) is planning to raise up to MYR 300 million via a Perpetual Sukuk Musharakah Programme (Sukuk Programme), according to a Bursa Malaysia filing.

Uzma lodged the required information and documents pertaining to the setting up of the Sukuk Programme with the Securities Commission Malaysia on the 30th of December 2020, according to the filing.

The Sukuk Programme allows the issuance of unrated perpetual Islamic notes from time to time, with flexibility for Uzma to issue secured and/or unsecured Perpetual Sukuk Musharakah not exceeding MYR 300 million at any point in time.

Proceeds raised from the issuance of the perpetual Islamic notes under the Sukuk Programme shall be used by Uzma for refinancing existing fina...