OTHERS SUNMOW HOLDING BERHAD ("SHB" OR "COMPANY") - BANKING FACILITIES ACCEPTED BY SUNMOW GROUP (COMPRISING SHB AND ITS SUBSIDIARIES)
| SUNMOW HOLDING BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | SUNMOW HOLDING BERHAD ("SHB" OR "COMPANY") - BANKING FACILITIES ACCEPTED BY SUNMOW GROUP (COMPRISING SHB AND ITS SUBSIDIARIES) |
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The Board of Directors of SHB (“Board”) wishes to announce that on 21 November 2024, its wholly-owned subsidiary namely Sunmow Construction Sdn. Bhd. (“SCSB”), has accepted the banking facilities amounting to RM150,000,000 (“Facilities”) offered by Bank of China (Malaysia) Berhad (“Bank” or “BOCM”).
SHB had given its consent to stand as a corporate guarantor and had executed a corporate guarantee for the principal sum of RM150,000,000.00 together with interest and all other monies owing or payable in favour of the Bank as part of the securities for the Facilities.
The Facilities will expose Sunmow Group to interest rate risk and credit risk. Nonetheless, as a mitigating factor, SHB will closely monitor the cash flow of Sunmow Group.
This announcement is dated 2 December 2024. |
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Announcement Info
| Company Name | SUNMOW HOLDING BERHAD |
| Stock Name | SUNMOW |
| Date Announced | 02 Dec 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-02122024-00044 |