PETALING JAYA: Country Garden Real Estate (CGRE) has issued RM495 million of sukuk in three tranches despite the downcycle of global market and recent chaos in financial market due to the COVID-19 outbreak.
In a statement, the group said this reflects the confidence that Malaysian capital markets have in both Country Garden Group and CGRE’s long term development in Malaysia.
In addition, RAM Ratings had in September 2019 reaffirmed the AA3/Stable rating of CGRE’s Islamic medium-term note (IMTN) programme.
CGRE’s IMTN Programme was set up in 2015, which was first ever ringgit sukuk issued by a China-related corporate entity. It was bestowed the Triple A Islamic Finance Awards 2016 by The Asset and the League Awards 2016 by RAM.
source https://www.thesundaily.my/business/country-garden-raises-rm495m-sukuk-BM2295210
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