Malaysia’s Scientex sets up RM 500 million 15-year sukuk program

By Marisa Wong

Morgantown, W.Va., Dec. 2 – Scientex Bhd. said its wholly owned subsidiary, Scientex Quatari Sdn. Bhd., has established an up to RM 500 million sukuk program.

RHB Investment Bank Bhd. is the lead arranger, lead manager and agent for the 15-year program, according to a Bursa Malaysia announcement.

Sukuk proceeds will be used to finance acquisitions or investments, to fund working capital requirements and to refinance existing bank loans.

Based in Shah Alam, Malaysia, Scientex manufactures industrial stretch film and consumer packaging products.

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