KUALA LUMPUR: Nextgreen Global Bhd
’s wholly-owned subsidiary Ultimate Ivory Sdn Bhd has secured RM180 million in Islamic banking financing from AmBank Islamic Bhd.
In a filing with Bursa Malaysia today, Nextgreen stated that the funds will be used to part finance earthworks, and infrastructure, facilities and utility works, and land-related costs such as premiums, statutory payments, and levy for its Green Technology Park in Pekan, Pahang.
Additionally, it said the facility will be utilised for reducing term takaful, level term takaful, and keyman takaful contribution to cover the life of key persons.
The company said the loan facility comprises Murabahah Tawarruq Revolving Credit-i, with a tenure of up to 120 months, including a 36-month grace period and a profit period of one, three, or six months, and Murabahah Tawarruq Term Financing-i, which extends up to 120 months from the first business day of the following month from the date of first disbursement.
"The loan facility will not have any effect on the issued and paid-up capital of the company or the shareholdings of the company’s substantial shareholders, (and it) is not expected to have any immediate impact on its net assets or earnings per share of the company,” it added. - Bernama
