KUALA LUMPUR (Dec 13): Pasukhas Group Bhd’s wholly-owned unit, Pasukhas Green Assets Sdn Bhd, has proposed to establish an Islamic Medium Term Note Programme of RM200 million in nominal value to fund its acquisitions and capital requirement needs.

In an exchange filing today, Pasukhas said the programme, which will be established under the syariah principle of Wakalah Bi Al-Istithmar together with Murabahah, will have a tenure of 20 years from the date of its first issuance.

Proceeds raised will be used to finance Pasukan Green’s acquisitions of projects, which may include a company, and to fund its working capital needs, it added.

The group lodged the required information and relevant documents relating to the sukuk programme with the Securities Commission Malaysia today.

Shares in Pasukhas finished unchanged at six sen today, valuing the construction group at RM44.64 million.