State plantation firm, PT Perkebunan Nusantara (PTPN) 3 plans to issue Islamic bonds (sukuk) worth Rp1 trillion on November this year, issued in the form of a Limited Participation Mutual Fund (LPMF) in collaboration with PT PNM Investment Management (PNM-IM).

The proceeds from bond issuances will be used for working capital and investment to improve productivity and business efficiency. PTPN 3 plans to expand to Laos. PTPN Group also signed a cooperation agreement between PT Pupuk Indonesia and Phaiboun and Export Group, a trading company from Laos.