KUALA LUMPUR: Maxim Global Bhd
’s 70%-owned indirect subsidiary, F3 Cheras Development Sdn Bhd, has accepted Islamic banking facilities worth RM54mil from AmBank Islamic Bhd.
The company said in a filing with Bursa Malaysia that the facilities will be used to partly finance the development cost for the decommissioning and upgrading of sewerage treatment plants in Alam Dami, Cheras, Kuala Lumpur.
It said the facilities will result in the Maxim group incurring interest and financing expenses, which will be charged to profit or loss, thereby directly impacting its earnings.
However, these costs are expected to be fully covered by future earnings from the development of the land after the completion of the project. — Bernama
