Johor Corporation Bhd’s unit Tanjung Langsat Port Sdn Bhd is issuing RM385mil nominal value Islamic debt notes to expand its port operations and repay its borrowings.
The debt notes comprise of RM250mil sukuk musyarakah and up to RM135mil musyarah commercial papers/ musyarakah medium term notes.
The underwriters for the debt notes are MIDF Amanah Investment Bank Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Bank Islam Malaysia Bhd.
Johor Corp chief executive Tan Sri Muhammad Ali Hashim said the port had invested RM260mil to develop the land, tank farm, jetty infrastructure and for dredging.
The port is building three more berths for liquid cargo costing RM165mil and a general/specialised cargo wharf costing RM130mil. The new facilities will be ready by end-2009.
The debt notes comprise of RM250mil sukuk musyarakah and up to RM135mil musyarah commercial papers/ musyarakah medium term notes.
The underwriters for the debt notes are MIDF Amanah Investment Bank Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Bank Islam Malaysia Bhd.
Johor Corp chief executive Tan Sri Muhammad Ali Hashim said the port had invested RM260mil to develop the land, tank farm, jetty infrastructure and for dredging.
The port is building three more berths for liquid cargo costing RM165mil and a general/specialised cargo wharf costing RM130mil. The new facilities will be ready by end-2009.