Malakoff Corp Bhd’s move to buy Hicom Power Sdn Bhd for RM575 million will be funded primarily by a sukuk issuance. This is seen as a move to strengthen the MMC Corp Bhd’s energy utilities subsidiary before its initial public offering (IPO) in the second-quarter of next year.
The acquisition of Hicom Power, an operation and maintenance company for power plants, will be funded by issue of sukuk worth RM460 million while the rest will be paid through internally generated funds……………………………………….Full Article: Source