Perak Transit issues a second tranche of RM100m Islamic Medium Term

by TMR / pic by TMR FILE 

PERAK Transit Bhd (PTRANS) issues a second tranche of RM100 million Islamic Medium Term Notes (IMTN) to finance the PTRANS’ working capital requirement and capital expenditure for the development of the new transportation terminal in Bidor, Perak.

In a filing to Bursa Malaysia the company said the unrated Islamic securities were the second tranche under PTRANS’ RM500 million 15-year Sukuk Murabahah Programme, the company’s first Shariah-compliant debt capital raising exercise launched in 2019.

UOB Malaysia and AmBank Group were the subscribers.

“PTRANS will be able to continue developing an integrated network of public transportation terminals in the state, connecting to other regions across Malaysia.

“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,” said Executive Director of PTRANS Datuk Cheong Peak Sooi.

He added the Sukuk Murabahah programme will help PTRANS to continue its growth journey and to drive price efficiency through lower financing cost.