IslamicFinance.de

Mudajaya Group’s unit, Sinar Kamiri, has issued its RM245mil green SRI sukuk wakalah. The coupon rate is between 4.96% and 6.35% per year and the coupon will be payable semi-annually. Proceeds from the issuance of the sukuk will be utilised for the development of a large-scale solar photovoltaic energy-generating facility of 49MW in Perak. The company stated that the issuance of the sukuk is not expected to have any material effect on the net assets and earnings per share of Mudajaya for the financial year 2018. However, the gearing and interest cost for Mudajaya are expected to increase for FY18 and onwards.