Kuala lumpur: Perak Transit Bhd has lodged the required information and relevant documents for its Sukuk Wakalah Programme with the Securities Commission Malaysia (SC).

According to BERNAMA News Agency, the company, in a filing with Bursa Malaysia, stated that this action aligns with the SC's Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework, first issued on March 9, 2015, and revised on February 5, 2024. The Sukuk Wakalah Programme is designed to have a perpetual tenure, allowing for the issuance of Sukuk Wakalah periodically. Furthermore, Perak Transit will have the capability to issue Sukuk Wakalah in accordance with sustainability and sustainability-linked guidelines.

The filing also mentioned that each Sukuk Wakalah issued under the programme may be rated or unrated, based on the decision made before issuance. The proceeds from the issuance will support Perak Transit and its subsidiaries in Shariah-compliant activities. The funds are intended for refinancing existing borrowings or Shariah-compliant financings, covering capital expenditures, or offsetting related fees, costs, and expenses.

Maybank Investment Bank Bhd has been appointed as the principal adviser, lead arranger, and facility agent for the Sukuk Wakalah Programme, with Maybank Islamic Bhd serving as the Shariah adviser.