KUALA LUMPUR (Dec 5): Sunway Bhd has bought back and cancelled RM200 million in perpetual sukuk issued under the sixth series of its RM5 billion Perpetual Islamic Medium Term Note Programme.

“The company had also on even date, redeemed perpetual sukuk of RM200 million issued under Series 2 of the sukuk programme via optional redemption on its first call date,” the developer said in a bourse filing on Tuesday (Dec 5).

Sunway noted that the perpetual sukuk were previously held through authorised depository institutions for its founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling.

Post buyback and redemption, there are no outstanding perpetual sukuk under the programme, according to the company.

Back on Nov 28, Sunway also bought back and cancelled RM200 million in perpetual sukuk it issued back under Series 1 of the sukuk programme. These were also previously held by Cheah via authorised depository institutions.

Cheah is a major shareholder of Sunway with a 66.09% stake.

The sukuk programme, which was set up back in December 2017, was to finance Sunway's investment activities, capital expenditure and working capital.

Shares in Sunway finished one sen or 0.52% lower at RM1.91, giving the company a market capitalisation of RM9.57 billion.

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