<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 22): MNRB Holdings Bhd has issued a new subordinated sukuk murabahah amounting to RM420 million under its upsized sukuk murabahah programme announced in February, to fund the redemption of its previous subordinated sukuk murabahah or Tranche 1, worth RM320 million.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, MNRB said the new RM420 million issuance, or Tranche 2 subordinated sukuk murabahah, will have a tenure of 10 years (non-callable five years), and a profit rate of 4.46% annually.</p></div>

<div class=newsTextDataWrapInner><p>The&nbsp;Tranche 2 issuance will have its proceeds utilised to also invest in MNRB’s subsidiaries for group expansion in takaful and retakaful industries.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Its first call date is set on March 22, 2029, and its maturity date will be on March 22, 2034.</p></div>

<div class=newsTextDataWrapInner><p>This new issuance is recognised as MNRB’s Tier 2 capital under Bank Negara Malaysia’s Risk-Based Capital Framework for insurers, following the approval received on Feb 2, 2024.</p></div>

<div class=newsTextDataWrapInner><p>AmInvestment Bank Bhd is the primary advisor and arranger for the sukuk, with AmBank Islamic Bhd as its shariah advisor. Affin Hwang Investment Bank Bhd, AmInvestment Bank Bhd, and RHB Investment Bank Bhd are joint lead managers for the Tranche 2 issuance.</p></div>


KUALA LUMPUR (March 22): MNRB Holdings Bhd has issued a new subordinated sukuk murabahah amounting to RM420 million under its upsized sukuk murabahah programme announced in February, to fund the redemption of its previous subordinated sukuk murabahah or Tranche 1, worth RM320 million.

MNRB issues RM420 mil new sukuk to redeem previous tranche, fund expansion

All parties to Israel-Hamas war have agreed that the Gaza ceasefire will take effect at 8.30am local time on Sunday, a few hours earlier than had been anticipated, Qatar announced.

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South Korea’s impeached President Yoon Suk Yeol appeared in court on Saturday to argue against a request for his detention to be extended after his arrest earlier this week.

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The Ministry of Transport (MOT) will hold talks with the Road Transport Department (JPJ) to enable the mobile application for the selling and buying of used motorcycles to be integrated with the mySIKAP system for simpler, faster and safer transactions.

MOT, JPJ to discuss integrating app for buying and selling used motorcycles with mySIKAP

The Malaysian Anti-Corruption Commission (MACC) has detained four more individuals suspected of accepting bribes in return for assisting in processing and approving personal loan applications submitted by a financial consultancy firm.

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Phase 3 of the e-invoicing initiative has received over 4,900 early voluntary participants, according to the Inland Revenue Board (IRB).

In a statement on Saturday, the IRB noted that the e-invoicing implementation had now entered the second phase and shown a promising increase in participation.

Over 4,900 early voluntary participants in Phase 3 of e-invoicing, says IRB

JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong, who became the second-largest shareholder of Cosmos Technology International Bhd (KL:COSMOS) on Wednesday, said he intends to tap into the growing opportunities within Malaysia's water infrastructure sector.

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Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

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Malaysia's economy is projected to grow at a moderate pace of 4.5% to 5.0% in 2025, benefiting from strong economic fundamentals and an uptick in foreign investments, Hong Leong Bank Bhd or HLB (KL:HLBANK) said.

HLB forecasts M'sian economic growth at moderate pace of 4.5% to 5% in 2025

A four-day road ban on goods vehicles will be enforced in conjunction with the Chinese New Year celebration to alleviate traffic congestion and minimise the risk of accidents.

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Discussions are underway between the Malaysian Communications and Multimedia Commission (MCMC) and Microsoft, the owner of LinkedIn, regarding the licensing of the social media platform, said Communications Minister Fahmi Fadzil.

MCMC discussing LinkedIn licensing with platform owner Microsoft, says Fahmi

<p>The Malaysian Anti-Corruption Commission (MACC) has detained four more individuals suspected of accepting bribes in return for assisting in processing and approving personal loan applications submitted by a financial consultancy firm.</p>


<p>The Ministry of Transport (MOT) will hold talks with the Road Transport Department (JPJ) to enable the mobile application for the selling and buying of used motorcycles to be integrated with the mySIKAP system for simpler, faster and safer transactions.</p>


<p>Phase 3 of the e-invoicing initiative has received over 4,900 early voluntary participants, according to the Inland Revenue Board (IRB).</p>

<p>In a statement on Saturday, the IRB&nbsp;noted that the e-invoicing implementation had now entered the second phase and shown a promising increase in participation.</p>


<p>South Korea’s impeached President Yoon Suk Yeol appeared in court on Saturday to argue against a request for his detention to be extended after his arrest earlier this week.&nbsp;</p>
