Malaysia's Poh Kong to set up RM 200 million Islamic note program

By Reshmi Basu

New York, June 7 - Poh Kong Holdings Bhd. said it plans to set up an Islamic commercial paper and medium-term note program of up to RM 200 million.

The portion of commercial paper will carry a tenor of one to 12 months while the medium-term notes will bear a maturity of at least one year.

Proceeds will be used to finance existing debt, to repay loans and to fund working capital, for capital expenditures and for future investments.

Aseambankers Malaysia Bhd. and Commerce International Merchant Bankers Bhd. are arranging the facility.

Kuala Lumpur, Malaysia-based Poh Kong Holding is a jewelry retailer in Malaysia.

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