KUALA LUMPUR (Dec 2): Scientex Bhd said its wholly-owned subsidiary Scientex Quatari Sdn Bhd (SQSB) had lodged with Securities Commission Malaysia (SC) the relevant documents to issue a 15-year sukuk murabahah programme, with a nominal value of up to RM500 million.

In a Bursa Malaysia filing, Scientex — a consumer and industrial packaging product manufacturer-cum-property developer — said the issuance of the Islamic debt paper would be used to finance the acquisition of land, property and investments. It could also be used to fund working capital requirements or refinance SQSB’s existing borrowings.

“The sukuk murabahah programme is unrated and has a tenure of 15 years from the date of first issuance,” said Scientex.

It said RHB Investment Bank Bhd is the principal adviser, lead arranger, lead manager, and facility agent for SQSB’s sukuk murabahah programme.

Scientex’ manufacturing segment brought in revenue that was more than double its property segment’s RM515.73 million in the fiscal year ended July 31, 2015 (FY15), but it was the latter’s profit of RM175.28 million that made up the bulk — 69.5% — of the group’s consolidated segment profit in the year.

Scientex shares closed 14 sen or 1.7% higher today, at RM8.37 per share or RM1.86 billion in total.

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