A unit of Sichuan Development Holding Co (SDH) plans to raise $300 million via Islamic financing in the first quarter of next year, and plans a subsequent $1 billion Islamic bonds (sukuk) programme, according to the firm advising on the deal. The proposed transaction would be a first for a Chinese state-owned company and adds to a growing pipeline of sharia compliant deals by mainland firms seeking to diversify their funding sources. The three-year financing would be raised by the leasing arm of SDH, an investment arm of the Sichuan provincial government, said Bobby Tay, an advisor for Singapore-based Silk Routes Financials.
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SINGAPORE (AP) — A Singaporean man detained for more than two years under suspicion of being the mastermind behind a global soccer match-fixing syndicate was ordered to be released Wednesday by the country's highest court, which ruled he was being held unlawfully.