Perak Transit Lodges Sukuk Wakalah Programme Documents With SC

KUALA LUMPUR, Dec 8 (Bernama) -- Perak Transit Bhd has lodged the required information and relevant documents relating to its Sukuk Wakalah Programme with the Securities Commission Malaysia (SC).

In a filing with Bursa Malaysia, the company said the move is pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (first issued on Mar 9, 2015, and revised on Feb 5, 2024, as amended from time to time).

“The Sukuk Wakalah Programme will have a perpetual tenure and allow for the issuance of Sukuk Wakalah from time to time. Perak Transit will also have the flexibility to issue Sukuk Wakalah in compliance with relevant sustainability and sustainability-linked guidelines,” it said.

It added that each Sukuk Wakalah issued under the programme may be either rated or unrated, as determined prior to issuance.

The proceeds from the Sukuk Wakalah issuance will be utilised by Perak Transit and its subsidiaries for Shariah-compliant purposes.

According to the company, the proceeds will be applied to refinance existing borrowings or Shariah-compliant financings, fund capital expenditure, or defray related fees, costs and expenses.

Maybank Investment Bank Bhd is the principal adviser, lead arranger and facility agent for the Sukuk Wakalah Programme, while Maybank Islamic Bhd is the Shariah adviser.

-- BERNAMA