Perak Transit to issue RM300m Sukuk in October

Seated from left: Perak Transit director Datuk Wan Asmadi Wan Ahmad; executive director Datuk Cheong Peak Sooi; UOB Malaysia managing director and head of wholesale banking Ng Wei Wei and Beh Wee Khee and UOB Malaysia executive director and country head of commercial banking II, Beh Wee Khee. Standing from left are Perak State Financial Officer Datuk Abu Bakar Said; Perak Transit managing director Datuk Seri Cheong Kong Fitt; Perak State Committee Chairman for Tourism, Arts and Culture Tan Kar Hing; UOB Malaysia CEO Wong Kim Choong and Perak Transit director Ng Wai Luen.

KUALA LUMPUR: Perak Transit Bhd plans to issue RM300mil Sukuk Murabahah in October to refinance borrowings, finance its capital expenditure and working capital for existing and new projects.

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) will be the sole subscriber of the sukuk, according to a joint statement issued on Friday.