UEM Sunrise completes RM500mil Islamic medium-term notes issuance
In a filing with Bursa Malaysia today, UEM Sunrise said the programme, together with the company's existing Islamic commercial papers programme, has a combined aggregate limit of up to RM4 billion and is structured based on the shariah principle of murabahah via tawarruq arrangement.
The property developer said the new IMTNs were issued in two tranches, comprising RM200 million with a tenure of 10 years maturing on July 30, 2035 and RM300 million with a tenure of 12 years maturing on July 30, 2037.
It added that the proceeds raised from the new IMTNs will be used for the company and its subsidiaries' shariah-compliant general corporate purposes, including landbank and company acquisitions, investments; project development and infrastructure cost; capital and general expenditures, as well as refinancing of Islamic financing or outstanding loan facilities.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
9 minutes ago
- New Straits Times
2026 Madani Budget to focus on 'floor and ceilings' reforms, says Anwar
KUALA LUMPUR: The 2026 Madani Budget will focus on "floor and ceiling" issues across various sectors and segments, in line with the broader framework of the 13th Malaysia Plan (13MP) tabled last month. Prime Minister Datuk Seri Anwar Ibrahim said the emphasis was necessary as any focus on growth and investment without addressing the "floor" could lead to future problems. "I believe that if we talk about growth and investment without considering the floor, it will become a problem because the cost of goods is not decreasing. "Salaries must increase, even if only slightly. If they rise proportionately or more, it will not create the kind of pressure that some of our people currently feel due to the rising cost of living," he said during his closing remarks at the 2026 Budget Engagement Session held at the Finance Ministry today. Also present was Second Finance Minister Datuk Seri Amir Hamzah Azizan. The session was attended by around 300 representatives from the civil service, industry, chambers of commerce, technocrats, economists, academics, non-governmental organisations (NGOs), and international bodies. Earlier, in his speech, Amir Hamzah said the 2026 Budget would be the first to align with the goals of the 13MP. He said the budget, scheduled to be tabled on Oct 10, would focus on three main pillars — raising the ceiling, raising the floor, and strengthening good governance in public administration. Amir Hamzah added that in raising the ceiling, the government aims to enhance the country's competitiveness and support high-growth, high-value sectors, particularly the semiconductor industry, energy transition, and the Islamic economy.
New Straits Times
2 hours ago
- New Straits Times
SD Guthrie posts 71pct higher net profit to RM1.07bil in first six months
KUALA LUMPUR: SD Guthrie Bhd posted a 71 per cent year-on-year (YoY) increase in net profit to RM1.07 billion for the first half of 2025, up from RM626 million in the same period last year. Group managing director Datuk Mohamad Helmy Othman Basha said the strong performance was largely driven by its upstream operations, which saw profits more than double, supported by higher crude palm oil (CPO) and palm kernel (PK) prices. CPO prices rose three per cent YoY to RM4,146 per tonne, while PK prices surged 50 per cent to RM3,247 per tonne, he said at a press conference on SD Guthrie's latest interim results here today. The group's fresh fruit bunch (FFB) production increased by four per cent across all segments. Helmy said CPO prices are expected to remain around RM4,000 per tonne for the rest of the year. For the second quarter ended June 30 2025 (Q2FY2025), chief financial officer Renaka Ramachandran reported a 22 per cent increase in net profit to RM505 million, compared to RM415 million in the same quarter last year. The group's revenue for the quarter rose 4.11 per cent to RM5.17 billion from RM4.97 billion previously. Its upstream operations continued to benefit from the favourable commodity prices and improved output, which underpinned the strong quarterly and half-yearly performance. For the downstream segment, SD Guthrie International (SDGI) saw a 44 per cent drop in profit before interest and tax (PBIT) to RM126 million in Q2FY2025, from RM225 million a year earlier and the segment was impacted by weaker demand and tighter margins across Asia Pacific and Europe. However, SDGI's Oceania operations delivered encouraging results, with higher sales volumes and margins contributing to commendable operating profits. The group advanced its industrial development efforts, including a strategic partnership with Permodalan Negeri Selangor Bhd to co-develop a food security and edu-tech hub on Carey Island. SD Guthrie expects palm oil prices to remain volatile as the industry enters its peak output cycle amid ongoing global uncertainties. Nevertheless, the group said improved weather conditions, better operating performance and continued progress in new business pillars are expected to support its growth trajectory. Helmy said by 2030, its two emerging business pillars namely industrial development and renewable energy (currently focused primarily on solar) are expected to contribute between RM700 million and RM800 million to its bottom line. This will represent close to 30 per cent of the group's overall earnings.
New Straits Times
4 hours ago
- New Straits Times
Palm falls on concerns over rising output, stocks
KUALA LUMPUR: Malaysian palm oil futures fell on Thursday, extending losses from the previous session, amid concerns over rising inventories and production, while weak export demand further pressured the market. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange shed RM29, or 0.68 per cent, to RM4,238 (US$1,003.08) a metric ton at the midday break. Crude palm oil futures traded lower on ongoing concerns over rising output and stocks in the coming weeks, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. "The recent weak export demand is also seen as weighing down on market sentiment." Cargo surveyors estimated July palm oil exports to have fallen between 6.7 per cent and 9.6 per cent. The Malaysian Palm Oil Board is scheduled to release its supply and demand data on Aug 11. Dalian's most-active soyoil contract rose 0.36 per cent, while its palm oil contract shed 0.42 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) gained 0.11 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices rose 1 per cent, pausing a five-day losing run, on signs of steady demand in the US, the world's biggest oil user, though uncertainty about the macroeconomic impacts of US tariffs limited gains. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Indonesian goods exported to the US will attract a 19 per cent tariff from Aug 7, although the country is still negotiating exemptions for some of its key exports, such as crude palm oil. The ringgit, palm's currency of trade, strengthened 0.05 per cent against the dollar, making the commodity slightly more expensive for buyers holding foreign currencies.
