Daya Materials said the failure to pay was due to cash-flow constraints of its subsidiaries that resulted in it not being able to meet its payment obligations to the banks in a timely manner.
PETALING JAYA: Oil and gas services firm Daya Materials Bhd has defaulted on loan facility payments with two more banks - Hong Leong Bank Bhd
(HLBB) and Al-Rajhi Banking & Investment Corp (M) Bhd - amounting to RM98.05mil and RM97,788.30, respectively.
In a Bursa Malaysia filing yesterday, Daya Materials said the failure to pay was due to cash-flow constraints of its subsidiaries that resulted in it not being able to meet its payment obligations to the banks in a timely manner.
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