Puncak Niaga plans up to RMB 165 million five-year convertible sukuk

By Marisa Wong

Madison, Wis., Sept. 27 - Puncak Niaga Holdings Bhd. plans to issue up to RMB 165 million of five-year redeemable convertible secured sukuk, according to an announcement by Hong Leong Investment Bank Bhd.

Hong Leong will be the lead arranger for the issue.

Proceeds will be used to fund acquisitions.

Once it receives approval from the Securities Commission Malaysia, the Shah Alam, Malaysia-based company has one year to issue the sukuk.

Puncak Niaga specializes in water treatment.

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