KUALA LUMPUR (June 9): An investment holding company of Felda Global Ventures Holdings has shelved plans to sell an Islamic bond in Malaysia, IFR reported on Friday, after investigators raided the parent FGV's headquarters, following allegations of corruption.
FGV Seri Costa had filed 1.5 billion ringgit (US$352 million) sukuk wakalah programme with Malaysia's securities regulator, while sole arranger Maybank was finalising documents for a bond issue, IFR said. The sale is likely to be suspended indefinitely amid uncertainties at the parent firm, IFR added, citing bankers.
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