Perak Transit Bhd issued a second tranche of RM100mil Islamic medium term notes (IMTN), of which UOB Malaysia and AmBank Group were the subscribers.

In a statement on Tuesday, it said the unrated Islamic securities were the second tranche under its RM500mil 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 its working capital requirement and capital expenditure for the development of the company’s new transportation terminal in Bidor, Perak.

Perak Transit said it embarked on developing new transportation hubs to expand its transportation network across major towns and cities within the state.

Under its new expansion plan, the new transportation terminal, Bidor Sentral, is expected to become its southern transport hub for the state.

https://www.thestar.com.my/business/business-news/2021/09/21/perak-transit-issues-rm100mil-islamic-notes-under-expansion-plan