Malaysia's Khazanah to issue renminbi-denominated sukuk -IFR

KUALA LUMPUR, Sept 17 Sat Sep 17, 2011 12:13am EDT

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KUALA LUMPUR, Sept 17 (Reuters) - The Malaysian government investment arm Khazanah Nasional is planning to issue renminbi-denominated sukuk, making it the first-ever Islamic financing in Hong Kong's booming Dim Sum market, according to IFR.

IFR said that Khazanah was rumoured to be targeting 500 million renminbi ($77.5 million) with a tenor of five years, although a three-year piece is also being talked about.

Khazanah could not be reached immediately for a comment on Saturday.

Last week, the government investment arm mandated BOC International, CIMB Bank and RBS to lead the sukuk in Dim Sum market.

Three public-sector firms, namely MTR, Hong Kong Airport Authority and Hong Kong Mortgage Corp had been considering sukuks, IFR noted, adding that Hong Kong SAR Government was heard to be working on its first sovereign sukuk before the 2008 crisis. (Reporting by Umesh Desai and Purwa Naveen Raman; Editing by Daniel Magnowski)

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