MALAYSIA: UDA Holdings has completed its private placement of a Sukuk facility worth RM525 million (US$112.7 million), Berita Harian reported.
The issuance, which consists of Islamic commercial papers and Islamic medium-term notes, was fully subscribed by local investors. Proceeds from the Islamic facility will be used to repay existing financings and fund commercial, housing, industrial and Waqf development projects and also as working capital.