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- Sunway Treasury Sdn Bhd, a wholly-owned subsidiary of Sunway City Sdn Bhd, which is in turn wholly-owned by Sunway, has lodged the required documents with the Securities Commission Malaysia for the sukuk programme, according to a bourse filing.
KUALA LUMPUR (Jan 8): Sunway Bhd (KL:SUNWAY) said on Thursday that its unit has proposed a sukuk wakalah programme of up to RM10 billion to fund working capital and refinancing of borrowings.
Sunway Treasury Sdn Bhd, a wholly-owned subsidiary of Sunway City Sdn Bhd, which is in turn wholly-owned by Sunway, has lodged the required documents with the Securities Commission Malaysia for the sukuk programme, according to 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. The first issuance under the programme will be guaranteed by Sunway through a corporate guarantee.
Proceeds from the sukuk will be used for capital expenditure, investments, general corporate purposes, working capital requirements, refinancing existing shariah-compliant or conventional borrowings, covering programme-related fees, and providing inter-company advances within the Sunway Group.
OCBC Al-Amin Bank Bhd has been appointed as principal adviser, lead arranger, lead manager, sustainability structuring adviser and shariah adviser for the programme.
Last month, another Sunway unit, Sunway Cochrane Sdn Bhd, proposed a sukuk wakalah programme of up to RM2 billion to support working capital and expansion plans.
As of end-September 2025, Sunway reported cash and bank balances of RM6.52 billion, with short-term debt of RM6.34 billion and long-term borrowings of RM6.08 billion.
Shares of Sunway settled unchanged at RM5.58 on Thursday, valuing the group at RM38 billion.
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