• Malaysia successfully prices US$1.5bn global sukuk, says MOF
Malaysia has successfully priced US$1bn of 10-year and US$500 million of 30-year benchmark Trust Certificates (Sukuk) for a total deal size of US$1.5bn. The Ministry of Finance, in a statement, said, the 30-year tranche was the government’s inaugural sukuk issuance which is the longest tenured sukuk ever by a sovereign. The deal was oversubscribed, attracting an aggregate interest of over US$9bn from a combined investor base of over 450 accounts, it said. The 10-year tranche was oversubscribed by almost seven times and the 30-year tranche was oversubscribed by approximately six times.
• Eco World buys nearly 300 acres of land in Batu Kawan for RM731m
Eco World Development Group is acquiring 299.64 acres of leasehold land in Batu Kawan, Penang, for RM730.93m to build residential and commercial properties. Eco World confirmed that it had received a letter of award from the Penang Development Corp about its proposal to undertake the projects. The developer said it was also leasing about 150 acres for 30 years, with an option to renew for another 30 years, for an estimated lease consideration of RM65.34m. The 150 acres would be developed into an international standard golf course with a minimum of 18 holes and a club house. Eco World said it board was reviewing the detailed terms of the letter of award and that further details on the proposed Eco Marina development would be announced after it had accepted the letter
• KLCC Stapled Group eying 2 properties in heart of KL
KLCC Stapled Group, which comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust, is looking to acquire two multi-billion ringgit assets from parent company, KLCC Holdings Sdn Bhd, over the next three to five years. The two properties are mixed development projects code-named Lot 185 and Lot 91 sprawled over 4.5m sq ft and 1.5m sq ft, respectively.
• Malakoff launches IPO prospectus
Malakoff Corporation Bhd sets a tight bookbuilding range for its initial public offering, two people with direct knowledge of the process said, with solid support from domestic cornerstone investors. The top end of the range set on Thursday values the IPO at up to RM2.74bn (US$750m), the largest in Malaysia in almost three years.
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