Mah Sing to Issue MYR 100 Million Seven-Year Sukuk Murabahah

Malaysian property developer Mah Sing Group (Mah Sing) has announced that it will be issuing up to MYR 100 million in unrated redeemable convertible Sukuk Murabahah over a tenure of seven years, according to a bourse filing.

The Sukuk Murabahah issuance is part of Mah Sing’s MYR 1 billion Islamic Medium-Term Note (IMTN) programme, which allows multiple issuances of rated, unrated, secured and/or unsecured IMTNs. The first issuance of this programme was launched as a MYR 600 million Sukuk Murabahah in March 2020 with a 4.35% coupon rate and a five-year tenure, according to IslamicMarkets Sukuk Monitor.

Proceeds of the latest MYR 100 million Sukuk will be earmarked to finance...