Malaysia's Kuala Lumpur Kepong to set up multi-currency sukuk program

By Marisa Wong

Madison, Wis., Aug. 1 - Kuala Lumpur Kepong Bhd. said it plans to launch a multi-currency Islamic medium-term note program.

The company has mandated CIMB Investment Bank Bhd. and Maybank Investment Bank Bhd. as joint principal advisers, joint lead arrangers and joint lead managers.

RAM Ratings Services Bhd. has assigned a preliminary long-term rating of AA1 to the program.

The Securities Commission Malaysia approved the proposed program on July 31.

The cocoa, palm oil, rubber plantation, manufacturing, retail and property development company is based in Ipoh, Malaysia.

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