PETALING JAYA: Kimlun Corp Bhd
has successfully raised RM31.66mil via Islamic Commercial Papers (ICP). This issuance is part of its unrated ICP and Islamic Medium Term Notes (IMTN) programmes established on Oct 4, 2021, which have a combined limit of up to RM800mil.
In a filing with Bursa Malaysia, Kimlun noted the cash was raised in two tranches.
Tranche 1 amounting to RM16.4mil has a tenure of 6 months and tranche 2 amounting to RM15.26mil has a tenure of one year.
The money raised will be used for Syariah-compliant general corporate expenses, working capital, capital expenditures and refinancing of existing group debts.
