Pesona Metro Holdings Bhd has taken a significant step towards financial expansion by submitting a proposal to the Securities Commission Malaysia (SC) for the establishment of a sukuk wakalah programme valued at up to RM185 million.
This initiative, based on the shariah principle of ‘Wakalah Bi Al-Istithmar’, was lodged by its subsidiary, SEP Resources (M) Sdn Bhd, as disclosed in a filing with Bursa Malaysia today.
According to Pesona Metro’s announcement, the proposed sukuk wakalah, titled ‘Asean Sustainability SRI Sukuk Wakalah’, will have a tenure of up to 12 years from its issuance date.
The issuance aims to adhere to the SC’s Sustainable and Responsible Investment (SRI) Sukuk Framework under the Lodge and Launch Framework Guidelines.
The sukuk wakalah will be supported by various securities, including a corporate guarantee from Pan Malaysia Holdings Bhd and has already been assigned a preliminary long-term rating of AA1 with a stable outlook by RAM Rating Services Bhd.
MIDF Amanah Investment Bank Bhd and Public Investment Bank Bhd have been appointed as joint principal advisers, lead arrangers, and lead managers for the Asean Sustainability SRI Sukuk Wakalah.
This strategic move not only positions Pesona Metro Holdings Bhd for enhanced financial flexibility but also underscores its commitment to sustainable investment practices within the ASEAN region.
