Ramly Group secures syndicated financing

KUALA LUMPUR: Ramly Group subsidiary Ramly Food Industries Sdn Bhd on Tuesday signed an agreement with two banks for syndicated financing worth RM274 million to establish a new factory complex in Klang.

The factory, fully equipped with automated machines, is located at the Taman Perindustrian Halal Hub on Pulau Indah, Klang.

The banks are Agrobank and Bank Pembangunan Malaysia Bhd.

Ramly Group managing director Datuk Ramly Mokni said the factory would be built on an 8.5ha site, and comprise a production factory, halal logistics, frozen and dry storage depot, training centre, and research and development department.

"I appreciate the commitment showed by the two banks in assisting a bumiputra company like Ramly's towards progressing in the halal toyibban (clean, good and safe food) processing industry in the national and international market," he added.

Ramly was speaking at the signing ceremony which was witnessed by Agriculture and Agro-based Industry Minister Datuk Seri Ahmad Shabery Cheek.

The new production complex will be built in three phases at a total investment of RM1 billion and is scheduled for completion by end-2017. - Bernama