Bintai Kinden gets notice of facility cancellation

PETALING JAYA: Four of Bintai Kinden Corp Bhd’s existing Malayan Banking Bhd (Maybank) financing facilities totalling RM188mil have been either cancelled or suspended.

In a filing with Bursa Malaysia, Bintai Kinden said Maybank had notified its wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd of the cancellation/ suspension.

“The suspension will have a negative impact on the company’s financial standing and or the company’s ongoing projects and the company is in the midst of sourcing for a new financier in financing the ongoing projects of the group.”