KUALA LUMPUR (Dec 1): Sunway Bhd (KL:SUNWAY) announced that its subsidiary, Sunway Cochrane Sdn Bhd, has filed plans to establish a RM2 billion sukuk wakalah programme, aimed at supporting the group’s working capital and expansion initiatives.
The programme, which includes green sukuk, has a perpetual tenure, with individual issuances carrying terms of more than one year, to be determined prior to each issuance. Proceeds will be deployed for shariah-compliant purposes, including financing investments, acquisitions, capital expenditure, and general corporate needs. The funds may also be used for refinancing existing borrowings and inter-company advances within the Sunway group, structured under Islamic frameworks such as mudharabah or wakalah.
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, with short-term debt of RM6.34 billion and long-term borrowings of RM6.08 billion. The conglomerate’s shares closed at RM5.38, valuing the group at RM33.98 billion. Sunway is also planning to list its healthcare division early next year.
The sukuk programme is expected to enhance Sunway’s financial flexibility, enabling ongoing investment in commercial, industrial, and mixed-use projects across Malaysia, while reinforcing its commitment to sustainable and shariah-compliant financing solutions.
