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TM has cash to settle RM2bln sukuk, will not issue more bonds for now

Posted on 08 May 2013

Telekom Malaysia Bhd (TM) has sufficient cash to settle its RM2bil sukuk ijarah expiring at the end of the year and remains committed to return RM700mil, or up to 90% of normalised net profits, to its shareholders.
“We have adequate bank balances to pay the sukuk and there is no need to issue more bonds at the moment,” group chief financial officer Datuk Bazlan Osman said after the company’s AGM. As at Dec 31, 2012, TM had cash and bank balances of RM3.73bil while total borrowings stood at RM7.14bil………………………………………..Full Article: Source

 
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