Monday, 10 December 2018
Kumpulan Perangsang Selangor Berhad to raise up to RM500 million via Islamic Medium-Term Notes Programme
- Proceeds to fund general corporate purposes and refinancing of loans
Kuala Lumpur, Malaysia, 10 December 2018 – Kumpulan Perangsang Selangor Berhad (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) has proposed today the issuance of an Islamic Medium Term Notes Programme of up to RM500 million under the Shariah principle of Murabahah (via Tawarruq arrangement) (“Sukuk Programme”). The Sukuk Programme has a tenure of up to 15 years from the date of its first issuance.
The proceeds from the Sukuk Programme will be utilised for general corporate purposes and refinancing of existing borrowings of KPS Group of companies.
KPS’ Chief Executive Officer Ahmad Fariz Hassan said:
“The issuance of the Sukuk Programme is in line with our strategy of prudent capital management. Furthermore, it will also support our commitment in delivering sustainable returns to all stakeholders.”
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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)
Incorporated in August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or the “Group”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad. Having core assets in Manufacturing, Trading, Licensing and Infrastructure business, KPS is committed to strengthening the business and delivering sustainable returns to all stakeholders.
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