FGV issues first sukuk Murabahah programme

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KUALA LUMPUR: FGV Holdings Bhd has made the first issuance of RM500 million nominal worth Sukuk Murabahah pursuant to the Sukuk Murabahah Programme on Dec 31, 2021.

In a submitting with the Bursa Malaysia right this moment, the plantation firm mentioned proceeds raised from the issuance have been utilised by FGV to refinance its current financing or borrowing.

“For avoidance of doubt, the utilisation of the proceeds of the Sukuk Murabahah Programme shall always be for Shariah-compliant functions.

“The RM500 million Sukuk Murabahah issuance is not going to have any impact on the issued and paid-up share capital of FGV and/or the substantial shareholders’ shareholding in FGV,” it mentioned.

In December final 12 months, FGV lodged with the Securities Commission Malaysia (SC) to ascertain the sukuk programme after receiving an endorsement from the SC’s Shariah Advisory Council for the programme on December 10.

The Sukuk Murabahah programme would have a tenure of eight years from the date of its first challenge which shall be made inside 60 enterprise days from the date of lodgement with the SC whereas every particular person challenge of sukuk beneath the programme could have a tenure of 1 to eight years.

At shut right this moment, shares of FGV was flat at RM1.50 with 1.99 million shares traded. – Bernama



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