Kuala Lumpur: Bursa Malaysia Bhd scored a first Friday when it listed the first sukuk, or Islamic bond, and conventional bonds of Petronas and Cagamas MBS Bhd.Petronas listed a US$1.5 billion sukuk and US$3 billion conventional bond on the local bourse and the Labuan International Financial Exchange (LFX), wholly-owned by Bursa Malaysia. Both securities, issued in US dollars, would be for a period of five and 10 years, respectively.
The national oil corporation's maiden global sukuk was structured based on the globally accepted Shari'ah principle of Ijarah (Leasing), it said in a statement.
Meanwhile, Cagamas MBS listed all the outstanding sukuk and bonds issued under its five Residential Mortgage-Backed Securitisation Transactions, totalling about RM4 billion of sukuk and RM6 billion in bonds.
The ringgit-denominated sukuk and bonds have a tenure of between three and 20 years and was structured based on the accepted Shari'ah principle of Musharakah (Profit and Loss-Sharing).
The exchange said the two listings would be on an 'exempt regime basis', which meant that sukuk or debt securities listed on the exchange would not be quoted or traded on the bourse.
Bursa Malaysia's Chief Executive Officer Datuk Yusli Mohamed Yusoff was quoted in the statement as saying that the exchange was extremely pleased by the listings.
He said Malaysia was already renowned as a destination for Islamic finance and investments, and the listing of the sukuk, in particular, on the exchange further strengthened the country's position as a hub for global Islamic finance. - Bernama
