[%YCri%] SCIB Secures RM70 Million Financial Facility From SME Bank

Sarawak Consolidated Industries Berhad announced that it had secured an Islamic banking facilities amounting to RM70 million from SME Bank.

The group has structured two major facilities from the Bank to enhance its financial operations and project execution capabilities. The first, a Kafalah (Bank Guarantee-i) facility valued at RM15 million, is designated for issuing performance guarantees. This facility is applicable to contracts awarded by a diverse range of entities including Federal Government Ministries, Departments, or Agencies; State Government Bodies, Agencies, or Companies; Statutory Bodies or Other Semi-Government Agencies; as well as Government Linked Companies (GLCs) and their subsidiaries, and Government Link Investment Companies (GLICs) and their subsidiaries, provided these entities hold a minimum of 51% shareholding by the government or its entities.

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$KLSE-SCIB SCIB Secures RM70 Million Financial Facility From SME Bank

Sarawak Consolidated Industries Berhad announced that it had secured an Islamic banking facilities amounting to RM70 million from SME Bank.

The group has structured two major facilities from the Bank to enhance its financial operations and project execution capabilities. The first, a Kafalah (Bank Guarantee-i) facility valued at RM15 million, is designated for issuing performance guarantees. This facility is applicable to contracts awarded by a diverse range of entities including Federal Government Ministries, Departments, or Agencies; State Government Bodies, Agencies, or Companies; Statutory Bodies or Other Semi-Government Agencies; as well as Government Linked Companies (GLCs) and their subsidiaries, and Government Link Investment Companies (GLICs) and their subsidiaries, provided these entities hold a minimum of 51% shareholding by the government or its entities.

Read more: https://www.businesstoday.com.my/2024/07/18/scib-secures-rm70-million-financial-facility-from-sme-bank/

$SCIB / 9237 (SARAWAK CONSOLIDATED INDUSTRIES BERHAD)