PM Muhyiddin holds up oversubscribed sukuk as sign of investor confidence in Malaysia

Two Malaysian government sukuk issues that were oversubscribed by 6.4 times indicated that investors saw the country to be on the right economic track, Prime Minister Tan Sri Muhyiddin Yassin said today.

Muhyiddin said demand for the federal government’s Sukuk Kelestarian — the first dollar-denominated shariah-compliant government securities in the world — was so high that Putrajaya was able to raise US$1.3 billion (RM5.34 billion) or 30 per cent above the initial target.

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