RHB offers RM20mil term loan to Huazong

  • Banking
  • Monday, 15 Jul 2013

KUALA LUMPUR: RHB Bank Bhd is offering RM20mil term loan to the Federation of Chinese Associations Malaysia (Huazong) to partly finance the construction cost of the association's new headquarters.

The loan will be spread over a 10-year period.

Huazong is a non-profit and non-political national organisation, which represents major Chinese associations throughout Malaysia, currently operating at a rented office since 1991.

The new building with an estimated cost of RM70mil will be built on a 3.5-hectare land located on a highly accessible site between Sungai Besi/Besraya and Plus highways and is adjacent to University Putra Malaysia.

The 12-storey building will comprise an office block, a multi-purpose hall which can accommodate 1,500 people for banquet purposes, an auditorium with a seating capacity of 800 people, a museum, a library, a restaurant and two levels of basement car park.

The construction, which started in March this year, is expected for completion by June 2014.

She said RHB had an acceptance loans for business banking sector for small and medium enterprises of RM1.3bil up to May 2013. The bank recorded an acceptance loans of RM2.96bil last year.

Asked on the bank's loan growth outlook, Amy Ooi Swee Lian, Executive Vice President and Director of Business Banking of RHB Bank said: "We are not affected by the latest Bank Negara Malaysia regulation as it focused more on the consumer banking sector." - Bernama


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