PETALING JAYA: Matrix Concepts Holdings Bhd yesterday lodged with the Securities Commission Malaysia its proposed issuance of Islamic commercial papers and medium-term notes to establish a RM250 million sukuk wakalah programme. The sukuk wakalah will have a tenure of seven years and the first issuance will be made within 60 business days from the lodgement date. It will be unrated and is structured based on the syariah principle of Wakalah Bi Al-Istithmar. Proceeds raised from the issuance of sukuk wakalah under the programme may be used by the company for, among others, syariah-compliant purposes to finance future investments; to finance working capital requirements, capital expenditure, and other general corporate purposes; and to defray expenses in relation to the programme. Maybank Investment Bank Bhd is the sole principal adviser, lead arranger, and lead manager for the sukuk wakalah programme.