SHAH ALAM – KMDI Harta Berhad submits an Information Memorandum to the Securities Commission Malaysia today, allowing the company to offer its Islamic Redeemable Preference Shared (RPS-i) to qualified investors.
The company aimed to raise RM400 million for its operating capital, which will be done through its appointed Custodian, Citadel Trustee Berhad.
"A syariah advisor will soon be appointed to streamline the investment structure according to the syariah principles.
"The proceeds will be used for their existing and future projects, including the construction of affordable and commercial housing, pure water exploration, mineral water treatment plant, kenaf IBS factories and mining of mineral resources.
"KMDI is expected to achieve revenues worth RM1 billion by 2025,” it said in a statement.
The memorandum submitted complied with Sections 229 and 230 of the Capital and Services Act (CMSA) 2007.