KUALA LUMPUR: Evergreen Max Cash Capital Bhd
’s (EMCC) wholly owned subsidiary Evergreen Cahaya Holdings Sdn Bhd (ECH) has secured a RM50 million short-term revolving credit facility from Bank Islam Malaysia Bhd.
EMCC said in a filing with Bursa Malaysia that the purpose of the fund is to finance the cash capital of ECH’s Islamic pawnbroking business.
Evergreen Max said the RM50 million facility will be secured by a debenture incorporating fixed and floating charge over the selected subsidiary’s pawned loans receivables and interest receivables on pawned loans, and assignment and charge over designated accounts
It will also be secured by an undertaking from the controlling shareholders to remain as the controlling shareholders of the company. - Bernama
