Malaysia Airports to issue RM1b sukuk for KLIA2

KLIA2Malaysia Airports Holdings Bhd is considering to sell Islamic bonds worth 1 billion ringgit ($306 million) to finance the construction of a budget terminal whose costs are higher than estimated, Bloomberg reports.

The proceeds would be used for Kuala Lumpur International Airport 2, the extension of the existing international airport. Completion of the terminal is lagging behind the March 2012 deadline after work began in 2010. It had been delayed several times among harsh criticism especially from AirAsia.

The project is now slated to be ready by April 30, 2014. Originally, the costs for the terminal were 3.1 billion ringgit, but later it has been estimated at 4 billion ringgit.

HSBC Holdings Plc, Citigroup Inc, Maybank and CIMB Group Holdings Bhd are the lead arrangers of the sukuk.

The debt is rated AAA, the highest investment grade of RAM Rating Services Bhd, one of the country’s two credit rating agencies.



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Malaysia Airports Holdings Bhd is considering to sell Islamic bonds worth 1 billion ringgit ($306 million) to finance the construction of a budget terminal whose costs are higher than estimated, Bloomberg reports. The proceeds would be used for Kuala Lumpur International Airport 2, the extension of the existing international airport. Completion of the terminal is lagging behind the March 2012 deadline after work began in 2010. It had been delayed several times among harsh criticism especially from AirAsia. The project is now slated to be ready by April 30, 2014. Originally, the costs for the terminal were 3.1 billion ringgit,...

KLIA2Malaysia Airports Holdings Bhd is considering to sell Islamic bonds worth 1 billion ringgit ($306 million) to finance the construction of a budget terminal whose costs are higher than estimated, Bloomberg reports.

The proceeds would be used for Kuala Lumpur International Airport 2, the extension of the existing international airport. Completion of the terminal is lagging behind the March 2012 deadline after work began in 2010. It had been delayed several times among harsh criticism especially from AirAsia.

The project is now slated to be ready by April 30, 2014. Originally, the costs for the terminal were 3.1 billion ringgit, but later it has been estimated at 4 billion ringgit.

HSBC Holdings Plc, Citigroup Inc, Maybank and CIMB Group Holdings Bhd are the lead arrangers of the sukuk.

The debt is rated AAA, the highest investment grade of RAM Rating Services Bhd, one of the country’s two credit rating agencies.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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