Thursday, 27 May 2021 07:21 PM MYT
In a statement, the company said 94 per cent of the proceeds will be utilised to upgrade its existing production lines and to construct four new production lines, which are estimated to cost RM45.6 million. “After deliberation with the management team, we have decided to embark on this funding option as it enables the company to raise funds without incurring high interest costs as in the case of borrowing from financial institutions, where the 0.1 per cent annual coupon payment on the nominal value of the ICULS is much lower than the base lending rate,” he said.
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