Entries in English and Malay (Bahasa Melayu)

Monday, 27 April 2015

SUKUK PIPELINE - Issue plans around the world

The Thomson Reuters Global Sukuk Index is at 118.66237 points, up from 117.52672 at the end of last month and 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 117.64818 against 116.23259 at end-March and 113.69014 at end-2014.
KUVEYT TURK - Kuveyt Turk, Kuwait Finance House's Turkish unit, said in late April it would apply to the Capital Markets Board for permission to issue up to 1 billion lira ($370 million) of sukuk.
IVORY COAST - The Islamic Corporation for the Development of the Private Sector, an arm of the Jeddah-based Islamic Development Bank, said in late April it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast.
KHAZANAH NASIONAL - Malaysia's Khazanah Nasional plans the first tranche of a 1 billion ringgit ($276 million) sukuk issue as early as May, the sovereign wealth fund's managing director said in late April.
KUALA LUMPUR KEPONG - Malaysian plantation company Kuala Lumpur Kepong will raise up to 1.6 billion ringgit from Islamic bonds, rating agency RAM Ratings said in mid-April.
MALAYSIA BUILDING SOCIETY - Malaysia Building Society plans its third issue of covered sukuk worth 900 million ringgit, according to a regulatory filing by RAM Ratings in mid-April.
BNI SYARIAH - PT Bank BNI Syariah, the Islamic subsidiary of state lender PT Bank Negara Indonesia, plans to issue sukuk mudaraba with a three-year tenor worth up to 750 billion rupiah ($58.3 million) in an offer on May 18 and 19, the Jakarta Post quoted CEO Dinno Indiano as saying in mid-April.
JORDAN - Jordan chose the Islamic Corporation for the Development of the Private Sector to support its debut sovereign issue of sukuk, the ICD said in mid-April; the dinar-denominated issue is expected this year and would be used to absorb excess liquidity held by Jordan's Islamic banks, which is estimated to total 1.4 billion dinars ($2 billion).
AXIS REIT - Malaysia's Axis REIT said in early April that it had expanded its sukuk programme to 3.0 billion ringgit from 300 million ringgit, and extended the length to perpetual from 15 years.
TALIWORKS - Malaysia's Taliworks Corp announced in early April that the Securities Commission had authorised its proposed issuance of 210 million ringgit worth of sukuk murabaha, Bernama news agency reported.
KAZAKHSTAN - Kazakhstan's Finance Ministry is expected soon to propose a draft law allowing its first sovereign sukuk issue, which will probably take place early next year, Yerlan Baidaulet, an adviser to the Investments and Development Ministry, told Reuters in early April.
SENEGAL - Senegalese President Macky Sall said in early April that he had asked the Islamic Development Bank to help his country conduct a second sovereign sukuk issue. He gave no details.
GARUDA - Indonesian flag carrier Garuda Indonesia plans to issue $500 million worth of sukuk in May to refinance $350 million in loans maturing in June, the Investor Daily reported in late March, quoting Garuda's finance director I Gusti Ngurah Askhara Danadiputra.
(Yahoo News / 27 April 2015)
Alfalah Consulting - Kuala Lumpur:
Islamic Investment Malaysia:

Aafaq Islamic Finance approves cash dividend of 30%

Aafaq Islamic Finance said on Sunday it has approved a cash dividend of 30 per cent during even as its net profit grew 101 per cent in 2014.
Aafaq registered an unprecedented net profit increase of 101 per cent to reach Dh85.25 million last year from Dh42.43 million in 2013, it said in a statement.
The company’s 2014 revenues also climbed by 75 per cent to Dh103.765 million compared with 2013’s Dh59.302 million.
During the same period, aafaq’s liquid assets jumped by 55 per cent to reach Dh1.325 billion from Dh857 million, while total assets increased by an average of 37 per cent to Dh2.191 billion from 2013’s Dh1.594 billion. Additionally, property rights surged by 18 per cent to reach Dh325 million from Dh275 million in 2013.
The company’s total assets and revenues has been rising over the past few years but 2014 was one of the best years by all accounts.
The company’s total assets and revenues achieved growth rates of 37 per cent and 75 per cent, respectively, last year compared with 23 per cent and 72 per cent recorded between 2010 and 2013. Effective resource investments in high-yielding assets led to these positive results.
(Gulf News Market / 26 April 2015)
Alfalah Consulting - Kuala Lumpur:
Islamic Investment Malaysia:

Latest Posts

Upcoming Events on Islamic Finance, Wealth Management, Business, Management, Motivational

Alfalah Consulting's facebook


Alfalah Consulting is NOT providing any kind of loan to finance project etc and asking for a fee. If you've received any email claiming to be from Alfalah Consulting, offering loan to you, please ignore it or inform us for further actions. Our official email is If you've received an email from, that's NOT from us. Be cautious!