Sunway unit to establish RM2 bil sukuk programme for working capital, expansion plans

• The proceeds will also be used for general corporate purposes, refinancing of existing borrowings, and inter-company advances within the Sunway group via shariah-compliant structures such as mudharabah or wakalah, said Sunway.

KUALA LUMPUR (Dec 1): Sunway Bhd (KL:SUNWAY) said its unit Sunway Cochrane Sdn Bhd has proposed to establish a sukuk wakalah programme of up to RM2 billion to support its working capital and expansion plans.

Sunway Cochrane on Monday lodged the required documents with the Securities Commission Malaysia for the programme which includes green sukuk, said Sunway in a bourse filing.

The sukuk programme has a perpetual tenure, while each issuance will carry a tenure of more than one year, to be determined prior to issuance.

Proceeds from the sukuk will be used for shariah-compliant purposes, including financing or reimbursing investments, acquisitions, capital expenditure and working capital.

The proceeds will also be used for general corporate purposes, refinancing of existing borrowings, and inter-company advances within the Sunway group via shariah-compliant structures such as mudharabah or wakalah, said Sunway.

OCBC Al-Amin Bank Bhd has been appointed as the principal adviser, lead arranger, lead manager, sustainability structuring adviser, and shariah adviser for the programme.

As at end-September 2025, Sunway reported cash and bank balances of RM6.52 billion. Short-term debt amounted to RM6.34 billion, while long-term borrowings stood at RM6.08 billion.

Shares of Sunway—which plans to list its healthcare arm early next year—closed seven sen or 1.28% lower at RM5.38 on Monday, valuing the conglomerate at RM33.98 billion.

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