Telekom Malaysia to issue $907.7 million sukuk
KUALA LUMPUR, Sept 6
KUALA LUMPUR, Sept 6 (Reuters) - Telekom Malaysia Bhd , the country's largest fixed-line and broadband operator, will issue an Islamic bond, or sukuk, of up to 3 billion ringgit ($907.72 million) in nominal value to fund its working capital, according to a statement by RAM Ratings on Friday.
Telekom, in which the Malaysian government owns a 68.6 percent stake, is supported by its dominance in the fixed-lined telephone sector and the nation's low penetration rate of 30 percent for household broadband services, said RAM Ratings.
($1 = 3.3050 Malaysian ringgit)
(Reporting by Al-Zaquan Amer Hamzah; Editing by Matt Driskill)