KUALA LUMPUR, June 12 — Malaysian Resources Corporation Bhd (MRCB) has made a lodgement to the Securities Commission Malaysia (SC) for the establishment of the Proposed Islamic Medium-Term Notes (IMTN) programme of up to RM5 billion in nominal value based on the Shariah principle of Murabahah.

In a filing with Bursa Malaysia, it said the IMTN programme would have a perpetual programme tenure and had been assigned a preliminary rating of AA-IS by Malaysian Rating Corporation Bhd.

Proceeds raised from the IMTN programme would be utilised by the MRCB and its subsidiary companies for general working capital, capital expenditure and other general corporate purposes, which shall be Shariah-compliant.

"The IMTN programme serves as a funding platform for MRCB Group to fund business growth and to meet future funding requirements, as and when required,” it said.

Meanwhile, HSBC Amanah Malaysia Bhd and Maybank Investment Bank Bhd are the Joint Principal Advisers, Joint Lead Arrangers, and Joint Lead Managers for the IMTN programme. — Bernama