Malaysia’s Proton Completes MYR 700 Million Sukuk Issuance 

Malaysian automotive company, Proton Holdings Berhad (Proton), announced that it has successfully completed issuing the second tranche of its Islamic Medium-Term Notes (IMTNs) worth MYR 700 million (USD 158 million), under its Sukuk Wakalah programme, through its subsidiary PONSB Capital Bhd.

Why it Matters?

The Sukuk was roughly four times oversubscribed and the funds acquired will fund the company's working capital needs as well as future expansion goals. The offering follows the first tranche of MYR 500 million (USD 113 million) IMTN which was concluded in December 2021.

Details

The joint lead managers for the offering were CIMB Investment Bank Berhad and RHB Investment Bank Berhad. Proton’s Sukuk Wakalah pr...