lets see how the going...Repayment of bank borrowings
The Company has been classified as an affected listed issuer pursuant to PN17 of the
Listing Requirements since 29 March 2023 following a default in payment by OPM, a
wholly-owned subsidiary of the Company, for Islamic banking facilities granted by
MBSB for an amount of RM109 million (“Islamic Banking Facilities”).
Since then, the Group’s other banking facilities have either been cancelled or
suspended, thus putting the Group’s cash flow under severe strain. As at 31 December
2023, the total outstanding amount of the Group’s borrowings stood at RM147.5 million.

as of 31st Dec 2023, term loan with MBSB was RM118.5 mil and KTIMB owing OPM RM58.6 mil. Concessions period remaining around 17 years with annual fee of around RM13.1 mil, subject to 5 years review of not less than 13% adjustment to the annual fee. As per 31st Dec 2023, concession receivables value at RM114.3 mil. Any offered below rm290 mil for 100% stake in OPM would result in losses to Bintai.

29 Jan 24. Terms of the ISP are as follows:

Immediate payment of RM 1.5 million to OPM (“First Payment”) by 30 January 2024.

6 monthly installment of RM 250,000 per month from January to June 2024. (“Second to Seventh Payment”)

That KTIMB agrees to conclude with OPM by 31 May 2024 with one of the three following solutions:

- the termination of the CA, or
- KTIMB or designate, to the takeover OPM at an agreed valuation, or
- the restructuring of the concession debts outstanding as well as the

25/3..updated...Are they Bintai in a good financial position?

They have sufficient cash for at least 1 year of operations

simplywall.st analysis