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BIMB Holdings redeems 609.9M ringgit of securities


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BIMB Holdings redeems 609.9M ringgit of securities

Malaysia-based BIMB Holdings Bhd. completed an early partial redemption of 609.9 million ringgit worth of Islamic securities.

The company issued 1.66 billion ringgit of sukuk murabahah Dec. 12, 2013, which are due to mature Dec. 12, 2023.

BIMB expects the early partial redemption of the securities to positively affect its future earnings by cutting down on its future payment obligations, according to a Dec. 12 filing.

As of Dec. 12, US$1 was equivalent to 4.19 Malaysian ringgit.