Perak Transit Berhad announced it had lodged documents relating to the Sukuk Wakalah Programme with the Securities Commission Malaysia under the Lodge and Launch Framework.

The group's Sukuk Wakalah Programme of RM1.5 billion in nominal value will have a perpetual programme tenure and allows for the issuance of Sukuk Wakalah from time to time. Perak Transit would also have the flexibility to issue Sukuk Wakalah which are in compliance with relevant sustainability guidelines.

The proceeds raised from the issuance of the Sukuk Wakalah Programme it said will be utilise to finance the capital expenditure and its subsidiaries in relation to the development and construction costs of the integrated bus transport terminal cum commercial complex known as Terminal Seri Iskandar.

Also to finance the general working capital, capital expenditure, refinancing of existing Shariah-compliant financing and/or conventional borrowings and/or future Shariah-compliant financing and general corporate purposes of the PTRANS and its subsidiaries; and to defray expenses in relation to the Sukuk Wakalah Programme.

AmInvestment Bank Berhad and United Overseas Bank (Malaysia) Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the Sukuk Wakalah Programme.

Amanie Advisors Sdn Bhd and AmBank Islamic Berhad are the joint Shariah advisers for the Sukuk Wakalah Programme.