SCIENTEX ISSUES SECOND TRANCHE OF SUKUK

PETALING JAYA: Scientex Bhd’s wholly owned subsidiary Scientex Quatari Sdn Bhd yesterday made its second issuance of RM200 million in sukuk murabahah based on the syariah principle of murabahah (via tawarruq arrangement. “Proceeds raised from the second issuance of sukuk murabahah will be utilised to part finance the acquisition of lands,” Scientex said in a stock exchange filing. With the second issuance of sukuk murabahah, the total unrated sukuk murabahah issued stood at RM300 million in nominal value, after taking into account of the early redemption of RM50 million in nominal value of sukuk murabahah made in 2016.