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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Malaysia 1MDB said to weigh 1.5 bln ringgit Islamic bond

Posted on 19 December 2013

1Malaysia Development Bhd., the sovereign wealth fund whose debt tripled in two years, is considering selling 1.5 billion ringgit ($461 million) of sukuk, according to two people with knowledge of the plan.
The proceeds will be used to finance the relocation of an air-force base in Sungai Besi in Kuala Lumpur, said the people who asked not to be named because the information is private. 1MDB agreed to take over the redevelopment of the site from the government in June 2011 on condition it would pay to build a new military air base in the state of Negri Sembilan, located south of the capital, according to a June statement………………………………………..Full Article: Source


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