KUALA LUMPUR: KPJ Healthcare Bhd 's (KPJ) shares on Bursa Malaysia went up in the early session today following news of its proposal on the establishment of a RM3 billion Islamic medium-term notes (MTN) programme.

       At 11.10 am, the counter rose 1.0 sen to RM1.05 with 222,000 shares changing hands.

       In a filing with Bursa Malaysia on Wednesday, KPJ said the Sukuk Wakalah programme was for its shariah-compliant general corporate purposes, including financing its expansion and working capital requirements.

       It said Point Zone (M) Sdn Bhd (PZSB), its wholly-owned subsidiary, has completed the lodgement with the Securities Commission (SC) for the Sukuk Wakalah programme.

       "The funds would also be utilised for general corporate purposes of the KPJ Group’s healthcare and healthcare-related businesses, including to finance or refinance any existing borrowings or financings,” it said. - Bernama