Tuesday 30 May 2023
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KUALA LUMPUR (Oct 25): Yinson Holdings Bhd has made a lodgement with the Securities Commission Malaysia (SC) for the establishment of the Sukuk Wakalah Programme of up to RM1 billion based on the syariah principle of Wakalah Bi Al-Istithmar.

In a bourse filing on Monday (Oct 25), Yinson said the first issuance under the Sukuk Wakalah Programme shall be made within sixty business days from the lodgement date of Oct 22 (last Friday).

It said the programme is structured based on the syariah principle of Wakalah Bi Al-Istithmar and had been assigned ratings of A+IS and A1 by Malaysian Rating Corp Bhd (MARC) and RAM Rating Services Bhd respectively.

Yinson said proceeds raised from the issuance of sukuk wakalah under the programme will be utilised for the following syariah-compliant purposes:

(i) defraying fees, costs and expenses in relation to the issuance of the sukuk wakalah and Sukuk Wakalah Programme;

(ii) working capital;

(iii) refinancing of existing financing/borrowings; and

(iv) general corporate purposes.

At 9.36am on Monday, Yinson had added three sen or 0.52% to RM5.85, valuing it at RM6.43 billion.

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