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Malaysia’s MMC unit to issue $1.44 bln Islamic bonds

Posted on 07 August 2012

A unit of Malaysia’s MMC Corp will issue 4.5 billion ringgit ($1.44 billion) of Islamic bonds after winning approvals from the securities commission, the firm said in a stock exchange filing on Monday.
Tanjung Bin Power Sdn Bhd — a coal-fired power station 90 percent owned by Malakoff Corp that is in turn controlled by MMC Corp — will be using the proceeds from the sukuk, or Islamic bonds, for working capital and to pay off debts, MMC Corp said………………………………………..Full Article: Source

 
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