NEWS IN BRIEF: MARCH 13, 2020

MOHD ISWANDI KASAN ANUAR

MY E.G. SERVICES BHD (MYEG) is awaiting approval by local authorities for the use of its COVID-19 rapid test kit and will start accepting pre-orders on its online portal www.myeg.com.my in Malaysia and myeg.ph in the Philippines from next week.

In a statement today, MYEG said the kit was developed by a diagnostics company and approved by health authorities in China where it is presently widely used.

The kit enables the qualitative detection of the virus through blood samples, including those obtained from finger-pricking.

“For the convenience of organisations wishing to provide COVID-19 tests for their personnel, MYEG is collaborating with approved medical facilities to offer on-site testing conducted by trained healthcare professionals at the organisations' respective premises,” the company said.

-- BERNAMA

 

MAH SING GROUP BHD has issued secured and unrated Sukuk Murabahah of RM600 million in nominal value for Shariah-compliant purposes, which may include landbanking, investments and working capital as well as the refinancing of existing borrowings or redemption of unrated perpetual securities.

The sukuk issuance, which has been oversubscribed, has a tenure of five years and carries a fixed profit rate of 4.35 per cent per annum payable semi-annually, it said in a filing with Bursa Malaysia.

According to Mah Sing, the effect on its earnings per share and net cash position depends on the specific use of proceeds which has not been determined at this time

Hong Leong Investment Bank is the principal adviser, lead arranger and lead manager for the Sukuk Murabahah Programme.

-- BERNAMA

 

TAGS: MYEG, Mah Sing, COVID-19, Sukuk Murabahah, Financing