Bursa Announcements

Issuance Of RM150.0 Million Islamic Medium Term Notes Pursuant To An Islamic Medium Term Notes Programme Of RM1,500.0 Million In Nominal Value Based On The Shariah Principle Of Murabahah (VIA TAWARRUQ ARRANGEMENT) ("SUKUK MURABAHAH PROGRAMME")

We refer to our announcements made on 21 December 2021 in respect of the proposed establishment of an Islamic medium term notes (“Sukuk Murabahah”) programme of RM1,500.0 million in nominal value based on the Shariah principle of Murabahah (via Tawarruq arrangement) (“Sukuk Murabahah Programme”) and 16 March 2022 in respect of issuance of RM300.0 million nominal value of Sukuk Murabahah (“Series 1 Sukuk Murabahah”) under the Sukuk Murabahah Programme.

The Board of Tan Chong Motor Holdings Berhad (“TCMH” or the “Company”) is pleased to announce that the Company had on 20 June 2023, completed the subsequent issuance of RM150.00 million nominal value of Sukuk Murabahah (“Series 2 Sukuk Murabahah”) under the Sukuk Murabahah Programme. The Series 2 Sukuk Murabahah is rated A+IS with a stable outlook by MARC Ratings Berhad.

The Series 2 Sukuk Murabahah has a tenure of 3 years.

Proceeds from the issuance of the Series 2 Sukuk Murabahah shall be utilised by TCMH’s subsidiaries for working capital requirements.

RHB Investment Bank Berhad is the Lead Manager for the Series 2 Sukuk Murabahah issuance under the Sukuk Murabahah Programme.

This announcement is dated 20 June 2023. 

Announcement Info