KUCHING: SIG Gases Bhd will utilise RM6.5mil or 48.2% of the gross proceeds of RM13.5mil expected to be raised from a rights issue to repay bank borrowings.
The group has total borrowings of RM39.3mil. By paring down the debt, the partial repayment is expected to result in interest cost savings of some RM310,000 per annum.
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