BURSA ANNOUNCEMENTS
OTHERS TALIWORKS CORPORATION BERHAD (“TALIWORKS” OR “THE COMPANY”) – Proposed issuance of Sukuk (“Sukuk Murabahah”) based on the Shariah principle of Murabahah (via a Tawarruq arrangement) of RM210.0 million in nominal value
| TALIWORKS CORPORATION BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | TALIWORKS CORPORATION BERHAD (“TALIWORKS” OR “THE COMPANY”) – Proposed issuance of Sukuk (“Sukuk Murabahah”) based on the Shariah principle of Murabahah (via a Tawarruq arrangement) of RM210.0 million in nominal value |
The Board of Directors of Taliworks is pleased to announce that the Securities Commission Malaysia (“SC”) had vide its letter dated 3 April 2015 authorised the proposed issuance of Sukuk Murabahah based on the Shariah principle of Murabahah (via a Tawarruq arrangement) of RM210.0 million in nominal value to be undertaken by Grand Sepadu (NK) Sdn Bhd (formerly known as Jejak Melewar Sdn Bhd) (“GSNK”). GSNK (a joint venture company which TCB has a 75% indirect equity interest) operates and maintains the concession of the New North Klang Straits Bypass Expressway. The proceeds from the issuance of the Sukuk Murabahah will be utilised to facilitate the roll-over of the short term syndicated bridging loan facility of up to RM200.0 million undertaken by GSNK into the Sukuk Murabahah and for working capital purposes. Hong Leong Investment Bank Berhad is the Principal Adviser and Lead Arranger for the Sukuk Murabahah. This announcement is dated 7 April 2015.
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Announcement Info
| Company Name | TALIWORKS CORPORATION BERHAD |
| Stock Name | TALIWRK |
| Date Announced | 7 Apr 2015 |
| Category | General Announcement |
| Reference No | CK-150407-0C639 |