Sunway Bhd has announced that one of its subsidiaries plans to raise up to RM10 billion through a sukuk wakalah programme to support working capital requirements and refinance existing borrowings. The move forms part of the group’s broader capital and debt management strategy.
According to a filing with Bursa Malaysia on Thursday, Sunway Treasury Sdn Bhd, a wholly owned subsidiary of Sunway City Sdn Bhd—which is fully owned by Sunway Bhd—has submitted the necessary documentation to the Securities Commission Malaysia for the proposed sukuk programme.
The sukuk programme will carry a perpetual tenure, while each individual issuance will have a maturity of more than one year. Specific terms and conditions will be determined prior to each issuance. The first tranche of the sukuk will be supported by a corporate guarantee from Sunway Bhd.
Proceeds raised from the sukuk are expected to be used for capital expenditure, investments, general corporate purposes, working capital, and the refinancing of both Shariah-compliant and conventional borrowings. Funds may also be allocated toward programme-related fees and inter-company advances within the Sunway Group.
OCBC Al-Amin Bank Bhd has been appointed as the principal adviser, lead arranger, lead manager, sustainability structuring adviser, and Shariah adviser for the sukuk programme.
The announcement follows a separate proposal made last month by another Sunway subsidiary, Sunway Cochrane Sdn Bhd, which plans to establish a RM2 billion sukuk wakalah programme to fund working capital needs and expansion plans.
As of September 2025, Sunway reported cash and bank balances amounting to RM6.52 billion. The group also recorded short-term borrowings of RM6.34 billion and long-term debt of RM6.08 billion.
Sunway shares closed unchanged at RM5.58 on Thursday, giving the group a market capitalisation of approximately RM38 billion.