Malaysia's DanaInfra to issue 100 mln ringgit retail sukuk

Reuters, 18 October 2013

Oct 18 (Reuters) - Malaysia's DanaInfra Nasional Bhd, a unit created by the finance ministry to raise funds for the country's most ambitious infrastructure project, will issue a second Islamic bond, or sukuk, of 100 million ringgit ($31.75 million) later this month.

The 15-year sukuk will be offered to retail investors through the local stock exchange on Oct 24, DanaInfra said in a statement on Friday. Proceeds will go towards extending the Mass Rapid Transit (MRT) network to cover the Klang Valley and Kuala Lumpur conurbation, where the population is expected to rise to 10 million people by 2020 from 6 million now.

The finance ministry has allocated an 8 billion Malaysian ringgit bond programme for DanaInfra.

DanaInfra launched a 10-year sukuk in January to raise 300 million ringgit. It was oversubscribed by 1.16 times.

($1 = 3.1495 Malaysian ringgit).

Source: http://in.reuters.com/article/2013/10/18/danainfra-sukuk-idINL3N0I82D520131018