FGV to raise up to RM500m via sukuk murabahah programme

FGV Holdings Bhd announced in a bourse filing on Wednesday, 22 December that it had plans to raise RM500 million by establishing a Sukuk Murabahah programme. The plantation group said it had lodged with the Securities Commission Malaysia (SC) on Monday, 20 December to establish the Sukuk programme after it received an endorsement from the SC’s Shariah Advisory Council for the programme on 10 December. FGV said the FGV programme will have a tenure of eight years from the date of its first issue, which shall be made within 60 business days from the date of lodgement with the SC, while each individual issue of sukuk under the programme will have a tenure of one to eight years.