Malaysia's UMW Holdings redeems RM 500 million sukuk

By Marisa Wong

Madison, Wis., Dec. 18 - UMW Holdings Bhd. said it completed the early redemption of its RM 500 million Islamic medium-term notes issued on May 9, 2013.

Sukukholders had approved the buyback at an extraordinary general meeting held on Dec. 9.

The notes were issued under the company's RM 2 billion sukuk program established on Feb. 8, 2013.

UMW is an industrial company with interests in the automotive, equipment, manufacturing and engineering and oil and gas industries. It is based in Shah Alam, Malaysia.

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