Sunday 04 Jun 2023
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KUALA LUMPUR (April 12): UEM Sunrise Bhd said it has completed its issuances of Islamic Commercial Papers (ICPs) and Islamic Medium Term Notes (IMTNs) with nominal values of RM100 million and RM110 million respectively.

The issuances are under the group's new ICP and IMTN programmes established in October 2021, the property developer said in a bourse filing.

The ICPs have a tenure of 12 months while the IMTNs have a tenure of three years.

The two sukuk programmes have an aggregate limit of up to RM4 billion in nominal value based on the shariah principles of murabahah (via tawarruq arrangement), said UEM Sunrise.

The proceeds from the programmes will be used for the group's project development and infrastructure costs, capital expenditure, general expenditure, and refinancing of Islamic financing or outstanding loan facilities.

UEM Sunrise's share price closed up half a sen or 1.43% to 35.5 sen on Tuesday (April 12), giving the group a market capitalisation of RM1.8 billion.

Edited ByS Kanagaraju
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