by TMR/ pic by MUHD AMIN NAHARUL

Perak Transit to raise RM500m from Sukuk programme
Perak Transit Bhd has proposed to establish a 15-year tenure Sukuk Murabahah programme to raise RM500 million. In an exchange filing yesterday, the company noted proceeds raised from the sukuk shall be utilised to refinance the existing bank borrowings of the company and its subsidiaries and to finance their capital expenditure and working capital requirements.

Atrium REIT to raise RM999m from MTN Programme
Atrium Real Estate Investment Trust’s (REIT) manager, Atrium REIT Managers Sdn Bhd, said Atrium REIT Capital Sdn Bhd has lodged with the Securities Commission Malaysia (SC) the required information and documents relating to the establishment of the MTN Programme of upto RM999 million. In an exchange filing yesterday, Atrium REIT said proceeds raised from the MTN issuance under the MTN Programme shall be utilised to part finance/reimburse Atrium REIT’s purchase of parcels of lands and property in Penang. The MTN Programme will have a tenure of 30 years from the date of the first issuance.

Protasco announced the passing on of chairman Hadenan
Protasco Bhd stated its chairman and director, Tan Sri Dr Hadenan A Jalil, 73, has passed away after having been with the company for nine years. Hadenan, 73, passed away yesterday afternoon at his home in Sungai Buloh, the company noted in an exchange filing yesterday. A successor will be named in due course.  

RAM Holdings appoints new group CEO, deputy group CEO
RAM Holdings Bhd has appointed Lee Wai Kit as its group CEO and Promod Dass as his deputy. In a statement yesterday, the rating house noted Lee, who joined the group in 1993, has also been appointed as an executive director of RAM and RAM Rating Services Bhd. Lee recently helmed RAM Consultancy Services Sdn Bhd (RAM Consultancy) until Dec 31, 2018. Formerly the Deputy CEO of RAM Ratings, Promod joined RAM in 2000 and has 23 years of experience in the financial services industry, including 18 years at RAM Ratings. He will oversee the rebranding of RAM Consultancy to its new name of RAM Sustainability Sdn Bhd, besides continuing to helm RAM Sustainability as its CEO.

Malakoff takes stakes in two small hydro projects
Malakoff Corp Bhd’s unit, Tuah Utama Sdn Bhd (TUSB), has entered into two subscriptions for 32,500 new shares of the enlarged share capital of special purpose vehicles (SPV) Batu Bor Hidro Sdn Bhd and Lubuk Paku Hidro Sdn Bhd respectively. In an exchange filing yesterday, Malakoff stated the move will enable the TUSB to participate through the SPVs in the business of small hydro projects in Malaysia. The total share capital of each of the SPVs is RM50,000 comprising 50,000 shares which have been issued and fully paid-up at a subscription price of RM1 each, which TUSB holding 65% shareholdings and Touch Mecanicca Sdn Bhd the remaining 35% stakes.