PETALING JAYA: Perak Transit Bhd has issued a second tranche of RM100 million Islamic Medium Term Notes – with UOB Malaysia and AmBank Group among the subscribers – for working capital requirements and capital expenditure for its new transport terminal in Bidor, Perak.
The tranche comes under the group’s RM500 million 15-year Sukuk Murabahah Programme launched in 2019, which marked its first foray into syariah-compliant debt capital-raising.
Perak Transit highlighted that the new terminal is expected to be its southern transport hub for the state.
Its executive director, Datuk Cheong Peak Sooi, said the sukuk issuance will help the group’s growth journey as well as increase price efficiency through lower financing cost.
“With these projects, we aim to not only provide better transportation infrastructure services to the public at large, but to also deliver more value to both our shareholders and stakeholders,” he said in a statement.
UOB Malaysia’s deputy CEO, Ng Wei Wei, remarked that it hopes to support the company in expanding the public transport network in Perak, which will contribute to Malaysia’s overall smart city infrastructure development.
UOB Malaysia served as the lead arranger, principal adviser, joint lead manager and facility agent, while AmBank took on the role of joint lead manager for Perak Transit’s issuance.