KUALA LUMPUR, June 4 — Cypark Resources Bhd’s (CRB) wholly-owned subsidiary, Cypark Renewable Energy Sdn Bhd (CRE) is proposing to establish a perpetual Islamic medium term note programme of up to RM500 million under the Shariah principle of Musharakah.
In a filing with Bursa Malaysia today, CRB said the proceeds from the Perpetual Sukuk Musharakah Programme would be used for the refinancing of existing financing/borrowings, capital expenditure, working capital, general corporate purpose and/or defraying fees, costs and related expenses in respect to the issuance and establishment of the programme.
It said the proceeds of the perpetual Sukuk Musharakah Programme would be fully utilised for Shariah-compliant purposes, adding that RHB Investment Bank Bhd will act as the principal adviser, lead arranger and lead manager for programme. — Bernama
