Malaysia Marine and Heavy Engineering Raises RM350 Million in Sukuk

Kuala Lumpur, 6 November 2026 – Malaysia Marine and Heavy Engineering Holdings Berhad completed a RM350 million sukuk murabahah issuance on Friday, tapping its existing RM1 billion Islamic financing programme in two tranches. The group said it would use the proceeds for capital expenditure, working capital, general corporate purposes or advances to group companies. The issuance is complete, but the company did not allocate specific amounts to individual projects.

For Asian investors following Malaysia’s Islamic debt market, the deal offers two reference points for the cost of funding an engineering business in ringgit: 4.48% a year over three years and 4.69% over five years. For shareholders, the proceeds give the group more room to fund its operations and investments, while increasing borrowings and future financing costs. That trade-off matters more than the headline size alone.