News

The Board of APM Automotive Holdings Berhad (“APM” or “Company”) is pleased to announce that the Company proposes to establish an Islamic Commercial Papers (“ICPs”) Programme of up to RM1.5 billion in nominal value (“ICP Programme”) and Islamic Medium Term Notes (“IMTNs”) Programme of up to RM1.5 billion in nominal value (“IMTN Programme”) subject to a combined aggregate limit of up to RM1.5 billion in nominal value under the Shariah principle of Murabahah (via Tawarruq arrangement) (collectively, the “Sukuk Murabahah Programmes”).

The ICP Programme and the IMTN Programme shall have a tenure of seven (7) years and twenty (20) years from the date of first issue from the respective programmes.

The proceeds from the issuance of the Sukuk Murabahah shall be utilised by the Company for general corporate purposes and to refinance future financing (including future utilisation of existing financings) of APM and its subsidiaries. The utilisation of the proceeds of the Sukuk Murabahah Programmes shall at all times be for Shariah-compliant purposes.

We further wish to announce that the Sukuk Murabahah Programmes have been lodged with the Securities Commission Malaysia (“SC”) on 10 October 2016 in accordance with the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework (effective 15 June 2015).

This announcement is dated 10 October 2016.