KUALA LUMPUR (April 1): Dagang NeXchange Bhd (KL:DNEX) plans to establish a sukuk wakalah programme of up to RM3 billion for working capital, investments, debt repayment and capital expenditure for the group and its subsidiaries.

In a bourse filing on Wednesday, the technology infrastructure services provider said the programme has been lodged with the Securities Commission Malaysia, comprising senior Islamic medium‑term notes and subordinated perpetual Islamic notes.

Under the programme, DNeX also has the flexibility to issue sustainability sukuk or sustainability-linked sukuk under the sukuk in line with applicable local, regional and global guidelines or standards, as issued by the SC, the Asean Capital Markets Forum and the International Capital Market Association.

RAM Rating Services Bhd has assigned ratings of A1/Stable for the senior sukuk wakalah and A3/Stable for the perpetual sukuk wakalah.

CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and joint sustainability structuring advisers for the sukuk wakalah programme.

CIMB Investment Bank Bhd is the sole facility agent while CIMB Islamic Bank Bhd and Maybank Islamic Bhd act as joint shariah advisers.

Group chief financial officer Vinie Chong Pui Ling said the sukuk wakalah programme gives DNeX greater flexibility to optimise its capital structure and cash flow management while supporting continued growth across its core businesses — semiconductor, information technology and energy.

As at Dec 31, 2025, DNeX had total borrowings of RM131.37 million, according to its latest balance sheet.

At the time of writing, DneX’s share price is down half a sen or 1.8% at 27 sen, with the market capitalisation of RM938.8 million.