Lembaga Tabung Haji's Chief Investment Officer Abd Kadir Sahlan today said it invested in Bandar Malaysia Sukuk Issuance in February 2014, as it is a secured investment with a security cover of at least 1.67 times. – The Malaysian Insider file pic, May 11, 2015.
Lembaga Tabung Haji today clarified that it invested in the Bandar Malaysia Sukuk Issuance in February 2014, as it is a secured investment.
The Sukuk is effectively secured against parcels of land in Bandar Malaysia with security cover of at least 1.67 times, said its Chief Investment Officer Abd Kadir Sahlan in a statement today.
Abd Kadir said the sukuk was issued to finance the construction of replacement facilities in relation to the relocation of the existing Sg Besi Air Force Base Facilities.
Tabung Haji's total investment, in 2 tranches on the said Sukuk, is RM920.8 million, and will generate yields of 5.85% and 6.05% for the 7 and 10-year tranches, respectively.
At the end of the investment periods, Tabung Haji will receive total proceeds of RM1.55 billion resulting in a RM626.5 million profit, said Abd Kadir. – Bernama
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