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FINWIRES

Lagenda Properties Raises MYR475 Million From Sukuk Wakalah Issuance

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Lagenda Properties (KLSE:LAGENDA) has raised 475 million ringgit from the first issuance under its Sukuk Wakalah Program, according to a Thursday filing to the Malaysian stock exchange.

The property developer said the proceeds from the issue will be used for syariah-compliant inter-company advances to fund acquisitions, working capital, and other purposes related to affordable housing developments.

The first issuance is secured, unrated, and is not and will not be listed on Bursa Malaysia Securities Berhad or any other stock exchange, the company said.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
Asia

China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

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TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

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TPE:1795