MHB Completes RM350 Mln Sukuk Murabahah Issuance

KUALA LUMPUR, Nov 6 (Bernama) -- Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has completed the issuance of sukuk murabahah with an aggregate nominal value of RM350 million under its sukuk murabahah programme of up to RM1.0 billion.

In a filing with Bursa Malaysia today, the company said the issuance, completed on Nov 6, 2026, comprised two series of sukuk murabahah with nominal values of RM130 million and RM220 million.

The RM130 million sukuk murabahah has a tenure of three years, maturing on Nov 6, 2029, with a profit rate of 4.48 per cent per annum, while the RM220 million sukuk murabahah has a tenure of five years, maturing on Nov 6, 2031, with a profit rate of 4.69 per cent per annum.

MHB said the proceeds would be utilised for its capital expenditure, working capital requirements, other general corporate purposes and/or advances to its group of companies.

"All utilisations will be carried out in a shariah-compliant manner and for shariah-compliant purposes," it said.

The sukuk murabahah are rated AA-IS with a positive outlook by MARC Ratings Bhd.

It said the issuance will increase the group's borrowings and gearing and result in financing costs over the tenure of the sukuk murabahah.

“The issuance is not expected to have any immediate material effect on the consolidated net assets or earnings per share of MHB,” it said.

HSBC Amanah Malaysia Bhd (HSBC) is the sole coordinator, while HSBC and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers.

-- BERNAMA