In this study, linear precoding scheme for Multi-User Multiple Inputs Multiple Outputs (MU-MIMO) system is introduced. The Proposed method optimizes Per-Antenna Signal to Leakage Plus Noise Ratio (PASLNR) criteria and make use of Fukunaga-Koontz Transforms (FKT) computation to develop simple precoding algorithm. However, the linear technique available in the literature so far use Per-User Signal to Leakage plus Noise Ratio (PU-SLNR) and develop closed form precoding matrix solution based on Generalized Eigenvalue Decomposition (GEVD), the precoding matrix computation using GEVD gives poor results at high SNR values. Moreover, the PU-SLNR objective function neglects to take the intra-user antennas interference cancellation into account. In this study, a new cost function based on PA-SLNR is defined, FKT based solution is explained and novel simple algorithm is developed to compute the precoding matrices for multiple users of multiple antennas. The developed FKT transform algorithm reduces the overall computational load by removing the redundant computations of FKT transform factor for each receive antenna. © Maxwell Scientific Organization, 2012.