Malaysia's WCT unit launches RM 600 million medium-term note program

By Marisa Wong

Madison, Wis., Aug. 2 - WCT Bhd. announced that its indirect wholly owned subsidiary, Jelas Puri Sdn. Bhd., has established a RM 600 million medium-term note program. The program was approved by the Securities Commission of Malaysia on July 31.

RHB Investment Bank Bhd. is the principal adviser and lead arranger.

The program has a tenor of up to six years from the date of first issuance, provided that the first series of notes to be issued under the program is within two years of the approval date.

The notes will be issued via private placement with maturities of between one and six years.

Proceeds will be used to repay existing bank loans and to finance construction.

WCT is an engineering services company based in Shah Alam, Malaysia.

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