KUALA LUMPUR (March 9): Velesto Energy Bhd (KL:VELESTO) is establishing a sukuk wakalah programme with a combined aggregate limit of up to RM1 billion to provide the group with funding flexibility for investments, capital expenditure, working capital and refinancing activities. Proceeds raised from the sukuk may be used for shariah-compliant purposes including investments, capital expenditure, working capital requirements and the refinancing of existing Islamic financing or conventional borrowings. The funds may also be used to refinance future financing or sukuk issued under the programme, as well as to cover related fees, costs and expenses. RAM Rating Services Bhd has assigned the programme a short-term rating of P1(s) and a long-term rating of AA2(s), both with a stable outlook. Maybank Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the programme, while Maybank Islamic Bhd has been appointed as the shariah adviser.

Source: The Edge Markets March 09, 2026 11:33 UTC