Pakistani oil giant issues short-term Islamic paper

In January 2018 oil marketing firm Hascol Petroleum became the first corporate in Pakistan to issue Islamic commercial paper (ICP), with a PKR1.5 billion (US$13.5 million) short-term facility that blazed a new trail for private sector capital raising in the country. ICPs

Malaysian property firm issues Sukuk for land sale

One of Malaysia’s biggest property developers, SP Setia, in September issued a simple and straightforward Sukuk transaction to raise funds for the purchase of land on the island of Penang, in a deal which demonstrates the simplicity and ease of raising Islamic

Telecoms debut meets enthusiastic market welcome

Market-leading Malaysian telecoms firm Digi Telecommunications launched its first ever Islamic issuance in May 2017 to an eager market, with the oversubscribed paper demonstrating the robust appetite for high quality investment-grade names in a market keen for diversification. The debut RM900 million

Malaysia utilities giant utilizes Sukuk to refinance debt

Malaysia’s Malakoff Corporation (MCB), a water and power producer and a stalwart Sukuk issuer, has returned once again to the debt capital market through subsidiary Tanjung Bin Energy (TBE) to demonstrate the versatility of Islamic debt instruments for financing and refinancing purposes.