Malaysia’s IJM Corporation Issues MYR 360 Million Sukuk Murabahah Via Subsidiary

Malaysia-based IJM Corporation Berhad has announced the issuance of MYR 360 million (USD 81 million) nominal value Sukuk Murabahah via its wholly-owned unit, Fairview Valley Sdn Bhd (Fairview Valley), and under the Islamic Medium-Term Notes Programme, as per a statement made on the 18th of July 2022.

Why it Matters?

The offering, which represents Fairview Valley's inaugural Sukuk Murabahah issuance, followed the signing of a subscription agreement between Fairview Valley Sdn Bhd with CIMB Investment Bank Berhad and CIMB Islamic Bank Berhad. The transaction featured sustainability-related characteristics with pre-agreed targets and its parameters included elements like energy and water efficiency performance metrics and assets’ renewable energy co...