News Coverage
News Coverage
M'sian Finance Ministry Unit Seen Issuing Up To 2 Sukuk
BT Premium, 24 February 2014
[KUALA LUMPUR] Malaysia's DanaInfra Nasional Bhd, created by the finance ministry to raise funds for the country's largest infrastructure project, may issue and list on the stock exchange this year as many as two Islamic bonds worth RM100 million (S$38.5 million) each, an official with the bourse said.
"We are in engagement with them, and definitely we will see at least one or two issuances this year," Jamaluddin Nor Mohamad, head of Islamic and alternative markets at Bursa Malaysia, said in an interview.
The expected issuance is necessary to promote Bursa Malaysia as a market for retail sukuk, he said. DanaInfra is so far the only institution to have issued sukuk on the bourse's Exchange Traded Bonds and Sukuk (ETBS) platform.
DanaInfra raised RM300 million with a 10-year sukuk in January 2013 and RM100 million with a 15-year sukuk in October. The issues targeted retail and corporate investors with limited access to the over-the-counter (OTC) market in bonds, where investments must be done in large minimum sums.