MALAYSIA: Bank Pembangunan Malaysia, or the Malaysian Development Bank, is providing a financial guarantee to a Sukuk issuance by Econas Resource to Energy, which is part of ER2E’s RM500 million (US$112.6 million) ASEAN Sustainability SRI Sukuk Murabahah Programme, according to an official post on LinkedIn.
The funds raised from the Sukuk will be utilized to part-finance the development of the first Resource Recovery & Disposal Complex and Resource to Energy-Scheduled Waste Integrated waste treatment facilities in Pengerang, Johor which will increase the capacity of scheduled waste management facilities in Malaysia.