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Malaysia's Felda to issue US$2.3b sukuk to finance restructuring plans

[KUALA LUMPUR] Malaysia said on Wednesday it has given approval for state-owned palm oil firm Federal Land Development Authority (Felda) to issue a US$2.38 billion sukuk with a government guarantee to finance its restructuring plans.

Felda is expected to see positive cashflow by 2023 following the implementation of the plans, Economic Minister Mustapa Mohamad said in a statement.

REUTERS

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