PERAK TRANSIT ISSUES SECOND TRANCHE OF RM100 MLN ISLAMIC MEDIUM-TERM NOTES

KUALA LUMPUR, Sept 21 -- Public transportation terminal operator Perak Transit Bhd (PTrans) has issued a second tranche of RM100 million Islamic medium-term notes (IMTN) where UOB Malaysia and AmBank Group are the subscribers.

In a statement, it 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.

"The proceeds from the issuance will be used to finance PTrans' working capital requirement and capital expenditure for the development of the company’s new transportation terminal in Bidor, Perak.

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"In relation to PTrans’ new expansion plan, the new transportation terminal, Bidor Sentral, is expected to become PTrans’ southern transport hub for the state," it said.

PTrans executive director Datuk Cheong Peak Sooi said the second issuance under the Sukuk Murabahah programme will help PTrans to continue its growth journey and to drive price efficiency through lower financing costs.

“With the support from both UOB Malaysia and AmBank Group on this issuance, 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,” he said.

UOB Malaysia is the lead arranger and the joint lead manager, while Ambank Group also acts as the joint lead manager for the IMTN issuance.

-- BERNAMA