| Sliding sukuk costs mean Malaysia’s state-owned Syarikat Prasarana Negara Bhd is paying 20% less to finance railway expansion than China, which is building the world’s largest high-speed network.
Prasarana, which runs light-rail services in and around the capital Kuala Lumpur, sold RM1bil (US$321mil) each of 2022 and 2027 syariah-compliant notes to yield 3.77% and 4%, respectively, Mohd Zahir Zahur Hussain, the company’s finance director, said in an interview yesterday. China’s Railways Ministry issued 10-year non-Islamic bonds at a coupon rate of 4.68% on Aug 21 and 15-year securities at 5%, the Government’s debt clearing house website shows...............................................Full Article: Source |