Malaysia’s Mudajaya plans to issue up to RM 245 million green sukuk

By Marisa Wong

Morgantown, W.Va., Nov. 14 – Mudajaya Group Bhd. said indirect wholly owned subsidiary Sinar Kamiri Sdn. Bhd., formerly MGB Enterprise Sdn. Bhd., is proposing to issue up to RM 245 million of green sukuk.

The green sukuk will be issued on a one-off basis, but it may have different maturity dates. The term of each series would be no more than 18 years.

Proceeds will be used in part to finance a proposed project for the development of a large scale solar photovoltaic energy generating facility in Sungai Siput, Kuala Kangsar, Perak.

AmInvestment Bank Bhd. and United Overseas Bank (Malaysia) Bhd. are the joint lead arrangers and joint lead managers.

Mudajaya is a property developer based in Petaling Jaya, Malaysia.

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