Malaysian property developer Glomac proposes to issue RM175 million (US$48 million) of Islamic Murabahah underwritten notes and Murabahah medium-term notes facilities to fund a new residential project and repay loans. The developer signed an agreement with Alliance Investment Bank for a loan and bond facility over three years to part-finance the cost of Suria Stonor, Glomac’s flagship condominium under construction in central Kuala Lumpur. Glomac has sold 80% of the units in the RM255 million (US$61.1 million) project. Executive chairman....