TWL Holdings secures RM42.5mil banking facility from UOB Malaysia


KUALA LUMPUR: TWL Holdings Bhd's wholly-owned subsidiary, TWL USJ Heights Sdn Bhd, has accepted a banking facility of up to RM42.5 million from United Overseas Bank(UOB) (Malaysia) Bhd.

In a filing with Bursa Malaysia, TWL Holdings said the banking facility includes Term Loan 1 of RM7 million, Term Loan 2 of RM5 million, a bridging loan of RM30 million (comprising Tranche 1 of RM15 million and Tranche 2 of RM15 million) and a performance and financial guarantee of RM500,000.

It said Term Loan 1 is to be used to part finance project land acquisition in Mukim Damansara, Daerah Petaling, Selangor, and the bridging loan is intended to be used to part finance the project's construction cost.

In addition, Term Loan 2 is to finance the purchase of the keyman insurance, while the performance and financial guarantee is to guarantee developer licence, utilities, and other requirements related to the project.

The Bursa filing did not provide any additional details on the project.

"The banking facility is not expected to have any effect on the net assets and earnings per share of the company," TWL Holdings added. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Bank of England cuts rates but sees higher inflation after Reeves' budget
Tengku Zafrul: Malaysia secures potential exports to China worth RM3.2bil
Malaysia ready for new investment era with clear economic vision - MoF
Microlink wins RM83.5mil project from Home Affairs Ministry
Ringgit marginally lower against US dollar at the close
Ekovest's Lim is said to consider sale of toll roads for RM5bil
Sunway Malls projects 5% growth for 2024
Pentamaster 3Q net profit halves to RM11.8mil
Metro Healthcare’s 156.63 mln IPO shares for public oversubscribed by 38.60 times
Bursa Malaysia snaps 4-day winning streak

Others Also Read