PETALING JAYA: Puncak Niaga Holdings Bhd’s indirect subsidiary, Danum Sinar Sdn Bhd (DSSB), has proposed to the Securities Commission (SC) (pic) the establishment of an Islamic medium-term notes programme (sukuk murabahah) of up to RM300mil in nominal value.

       DSSB is a wholly-owned subsidiary of Danau Semesta Sdn Bhd, which is 90%-owned by Murni Estate Sdn Bhd, which in turn is a wholly-owned subsidiary of Puncak Niaga.

       The sukuk murabahah programme, which has a perpetual programme tenure, provides DSSB with the flexibility to issue, from time to time, rated and/or unrated sukuk murabahah subject to the aggregate outstanding nominal value of RM300mil.

       “DSSB intends to issue the first tranche of up to RM50mil only in nominal value under the programme,” Puncak Niaga said in a filing with Bursa Malaysia. — Bernama