Malaysia's Kuala Lumpur Kepong gets OK for up to RM 300 million sukuk

By Marisa Wong

Madison, Wis., Aug. 22 - Kuala Lumpur Kepong Bhd. announced that the Securities Commission Malaysia approved its proposed Islamic commercial paper/Islamic medium-term notes program on Friday.

The company plans to issue up to RM 300 million of paper and/or notes.

CIMB Investment Bank Bhd. and Maybank Bank Bhd. are the joint principal advisers, joint lead arrangers and joint lead managers for the program.

RAM Ratings Services Bhd. assigned long-term and short-term ratings of AA1 and P1, respectively, to the program, according to the company announcement. The long-term rating has a stable outlook.

Kuala Lumpur Kepong is a Malaysia-based palm oil producer involved in plantation, manufacturing, retailing and property development.

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