Malaysia’s Scientex subsidiary issues RM 150 million in sukuk bonds

By Tanya Meyer

Chicago, Jan. 8 – Scientex Bhd. announced that its wholly owned subsidiary, Scientex Quatari Sdn. Bhd., has issued RM 150 million in sukuk murabahah bonds.

The transaction is the first installment of the sukuk murabahah program, established by Scientex with Securities Commission Malaysia, for the issuance of up to RM 500 million in sukuk murabahah bonds, according to a news release.

Proceeds from the initial installment will be used to partially finance land acquisitions.

Scientex is a manufacturer of industrial stretch film and consumer packaging products based in Shah Alam, Malaysia.

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