Malaysia’s Yong Tai launches RM 1 billion sukuk program, eyes offering in Q2

By Marisa Wong

Morgantown, W.Va., April 10 – Yong Tai Bhd. has established a RM 1 billion Islamic medium-term note program, according to a Bursa Malaysia announcement.

Kenanga Investment Bank Bhd. is the lead arranger and lead manager for the 20-year sukuk program.

The company said it expects to issue the first tranche by the second quarter of 2018.

Proceeds will be used to finance investment activities, capital expenditure, working capital requirements and other general corporate purposes.

Yong Tai is an investment holding company based in Malacca, Malaysia. Its core business is in tourism-related property development.

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