Petronas Gas’ Subsidiary PLNG2 Issues MYR 3.0 Billion Sukuk for Better Financial Flexibility

Malaysian energy company Petronas Gas’ (PetGas) 65% owned subsidiary, Pengerang LNG (Two) Sdn Bhd (PLNG2) is planning to issue a Sukuk Murabahah Programme (Sukuk) valued at MYR 3.0 billion to allow for better financial flexibility, according to local media reports.

The Sukuk, which was lodged with the Securities Commission Malaysia (SCM) on the 17th of September 2020, has received approval from the Shariah Advisory Council of the SCM, and will have a tenure of 30 years from the first issue date, local media reported.

The Sukuk will enable PLNG2 to have flexibility to raise medium to long-term funding to meet its business financing needs including capital structure optimisatio...