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Thriven Global obtains RM15m credit facility to finance working capital needs

TheEdge Tue, Sep 03, 2019 08:11pm - 1 year ago

KUALA LUMPUR (Sept 3): Thriven Global Bhd has accepted a RM15 million credit facility from Bank Islam Malaysia Bhd to finance its working capital requirements.

In a bourse filing, the group said the one-year credit facility will also be used to help defray expenses from its Klang Valley development projects.

In addition, the credit facility will be used to settle subsidiary Bakat Stabil Sdn Bhd’s business financing facility with the bank.

As security, the group has pledged bungalow lots and a commercial land in Kulim, Kedah, owned by subsidiary Golden Cignet Sdn Bhd (GCSB).

Also pledged is an industrial land in Section 13, Petaling Jaya, owned by Bakat Stabil.

Thriven Global’s share price closed one sen or 4.88% lower at 19.5 sen today, giving it a market capitalisation of RM106.65 million.

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