KUALA LUMPUR (Jan 27): Trinity Corporation Bhd has proposed additional collateral from the sale proceeds of shophouses totalling RM40 million as the balance of the Sukuk Al-Ijarah of RM84.65 million has reached maturity on Friday.

The company, formerly TALAM CORPORATION BHD [], said the Sukuk holders had not declared an event of default on its unit Ample Zone Bhd, which issued the debt notes.

“They (Sukuk holders) have not convened a Sukuk holders’ extraordinary general meeting to deliberate Ample Zone’s proposal for a three-year extension of time to Jan 27, 2015,” it said.

Trinity Corp said the proposal to the Sukuk holders included additional collateral in terms of assignment of sales proceeds of 40 shop-offices at Saujana Putra totaling RM40 million arising from a proposed joint venture.

It added this was in addition to the existing securities in the form of the balance of three commercial buildings -- Midpoint shopping complex, Menara Maxisegar commercial building, Pandan Kapital shopping complex.