Bank Rakyat issues RM1bil senior sukuk wakalah
KUALA LUMPUR: Bank Rakyat has successfully issued a RM1 billion Islamic medium-term notes (IMTN) sukuk wakalah via special purpose vehicle (SPV) Imtiaz Sukuk II Bhd.
The issuance was made through the book-building process on April 24, 2025 under the senior sukuk wakalah programme of up to RM10 billion, which has been assigned a rating of AA2 by RAM Rating Services Bhd.
Bank Rakyat said in a statement that the issuance was made in two tranches, comprising RM120 million for a five-year tranche and RM880 million for a seven-year tranche.
"The bank also managed to garner a respectable demand for its senior sukuk wakalah with a final bid-to-cover ratio of 1.98 times the final issue size,' it added.
The proceeds from the senior sukuk wakalah issued will be utilised for shariah-compliant purposes, which include working capital requirements, capital expenditure, general investments, providing financing and other general corporate purposes.
Bank Muamalat Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd have been appointed as the joint lead managers for the sukuk wakalah programme. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
3 hours ago
- New Straits Times
Dubai's MBS Global eyes Johor for tech, finance investment expansion
KUALA LUMPUR: Dubai-based MBS Global Holdings, which manages over US$14 billion in assets worldwide, has expressed strong interest in positioning Johor as its next strategic investment hub in Southeast Asia. Johor Menteri Besar Datuk Onn Hafiz Ghazi said the state government held a high-level meeting with MBS Global on May 29, in Kuala Lumpur, where the firm outlined its investment appetite in key sectors such as digital technology, Islamic digital banking, green innovation and real estate. "MBS Global's interest is a strong signal of Johor's rising profile among global institutional investors. We view this as a potential catalyst for high-impact investments that can generate quality jobs and spur inclusive economic growth," he said. The firm is no stranger to ambitious ventures. Its recent US$8.8 billion investment to develop a blockchain-based financial hub in the Maldives is projected to create over 16,000 jobs by 2030. Onn Hafiz said Johor's appeal has been further strengthened by the Johor-Singapore Special Economic Zone (JS-SEZ) initiatives, which offer cross-border advantages and regional market access to international players. "The Johor government is committed to turning investment into real benefits for the people, not just in figures, but in the form of job creation, technology transfer and sustainable economic development," he said. MBS Global Holdings' potential entry aligns with Johor's strategy to attract future-driven industries and long-term capital. It is also in line with the state's economic blueprint.
Borneo Post
a day ago
- Borneo Post
Pulau Gaya residents receive lifelong learning
Sim (third right) presenting a RM10,000 contribution to the SK Pulau Gaya PIBG, while Phoong (fourth right) and Ashim (right) look on. KOTA KINABALU (June 1): The Ministry of Human Resources (Kesuma) and the Human Resource Development Corporation (HRD Corp) have extended their human capital development initiatives directly to the residents of Pulau Gaya through the 'Sentuhan Kesuma Bersama HRD Corp di Bawah Bayu' community-focused programme. Officiated by Kesuma Minister Steven Sim Chee Keong, the event reflects the ministry's strong commitment to ensuring that lifelong learning and training opportunities are accessible even to remote communities. In conjunction with HRD Corp's flagship annual event, the National Training Week (NTW) 2025, themed 'Learning Without Borders', this initiative in Pulau Gaya is a reflection of the main objective of ensuring equal access to quality training opportunities for all, regardless of location or background. The programme brought together over 450 residents from four local villages: Kampung Gaya, Kampung Lok Urai, Kampung Torong Logong and Kampung Kesuapan, who took part in a series of training sessions specifically designed for women, youth and students. These included workshops on flower arrangement entrepreneurship, digital marketing and drop shipping, as well as motivational sessions to inspire academic excellence. In his speech, Sim stressed that officers from each agency under Kesuma should always go down to the countryside including Pulau Gaya to provide the services required, including skills training. 'We want all citizens to be given skills so that they can generate higher income. When the citizens are more skilled, the country will also be more advanced. 'Next week, HRD Corp will launch the National Training Week 2025, and we will make sure we go back to Gaya Island and provide new skills to at least 5,000 residents of this island. 'For 2025, our target is to provide training to 60,000 participants from all over Sabah, compared to 15,000 last year,' he said. Meanwhile, State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe in his speech also stressed the need to bring more skills training to Sabah in order to open up more job opportunities. 'Such skills training can not only provide higher job opportunities and income, but it can also attract large-scale investment to Sabah, thus changing the fate of the people as a whole,' he said. During the same programme, HRD Corp also collaborated with Universiti Malaysia Sabah (UMS) for the strategic initiative 'Sabah Human Capital Initiatives & Nurturing Excellence (SHiNE)', an innovative platform that will function as the first lifelong learning hub of its kind in Malaysia, focusing on research, skills training and real-world talent development solutions tailored to meet the needs of the local and future workforce. According to HRD Corp board of directors deputy chairman Ahsim Jamat, he is confident that the SHiNE initiative will become a national reference model for talent and human capital development, thereby positively impacting the economic growth and well-being of the people in Sabah and Malaysia. More meaningfully, Sunday's programme also included the Industry and Community Training Collaboration Centre, where local tourism sector employers received benefits from HRD Corp's Training Facilities and Modification Scheme (ALAT) with the support of training equipment worth RM36,000 to enhance local skills training capabilities. Reflecting Kesuma's focus on holistic well-being, Sim also presented a Corporate Social Responsibility contribution in the form of 700 safety jackets for daily boat passengers, food baskets for 300 families around Pulau Gaya as well as a cash donation of RM20,000 to the Parent-Teacher Association (PIBG) of SMK Pulau Gaya and SK Pulau Gaya. The programme was also attended by Kuching Member of Parliament Dr Kelvin Yii; UMS registrar Luqman Ridha Anwar and Jesselton University College president Professor Dr Chin Yuk Fong.
New Straits Times
a day ago
- New Straits Times
Iran warns of retaliation if Europe reimposes nuclear sanctions
TEHRAN: Iran on Sunday warned it would retaliate if European powers that have threatened to reimpose nuclear sanctions "exploit" a UN report showing Tehran has stepped up production of highly enriched uranium. The report by the International Atomic Energy Agency said Iran had sharply increased its stockpile of uranium enriched to up to 60 per cent, close to the roughly 90 per cent level needed for atomic weapons. Iran's total amount of enriched uranium now exceeds 45 times the limit authorised by a landmark 2015 agreement with world powers, and is estimated at 9,247.6 kilograms, according to the confidential IAEA report seen by AFP. Iranian Foreign Minister Abbas Araghchi said in a statement he had told IAEA chief Rafael Grossi in a phone call that "Iran will respond to any inappropriate action by the European parties" to the 2015 agreement, referring to Britain, France and Germany. The European trio have warned they could reimpose sanctions if they deemed Iran's nuclear programme a threat to the continent's security. Araghchi urged Grossi in their Saturday call to stop "parties from exploiting" the nuclear watchdog report "to advance their political objectives", according to the statement. The IAEA Board of Governors is set to review Iran's nuclear activities in its upcoming quarterly meeting in Vienna starting June 9. Iran rejected the IAEA report, the latest move in years-long efforts to restrict its nuclear activities over fears that it is seeking to develop nuclear weapons. The Islamic republic has denied seeking nuclear arms and says it needs the uranium for civilian power production. The report was leaked as Iran and the United States have been engaged in negotiations towards a new nuclear deal, after Washington had unilaterally abandoned the agreement between Tehran and world powers in 2018, during President Donald Trump's first term. Araghchi said on Saturday that he had received "elements" of a US proposal for a potential nuclear deal following five rounds of talks mediated by Oman. Iran would respond "in line with the principles, national interests and rights" of its people, Araghchi added in a post on X. White House press secretary Karoline Leavitt said that the United States "has sent a detailed and acceptable proposal to the Iranian regime, and it's in their best interest to accept it", the New York Times reported. The proposal was described as a series of bullet points rather than a full draft, according to the New York Times, citing officials familiar with the diplomatic exchanges. It calls on Iran to stop all enrichment of uranium and proposes creating a regional grouping to produce nuclear power, which would include Iran, Saudi Arabia and other Arab states, as well as the United States. Trump adopted a "maximum pressure" policy against Tehran after withdrawing from the 2015 agreement and reimposed sweeping sanctions which the deal had lifted in return for UN-monitored restrictions on Iran's nuclear activities. Iran has ramped up its nuclear activities since the collapse of the deal, and is now enriching uranium to 60 per cent – far above the deal's 3.67 per cent cap but below the 90 per cent needed for weapons-grade material. The 2015 deal provides for the possibility of UN sanctions being reimposed through a mechanism called "snapback" if Iran fails to fulfil its commitments, an option that expires in October.--AFP
