PETALING JAYA: Sunview Group Bhd’s indirect wholly-owned subsidiary, SAM 2 Sdn Bhd, has secured a banking facility of RM5mil from Bank Kerjasama Rakyat Malaysia Bhd to finance general working capital requirements and short-term liquidity needs.
In a filing with Bursa Malaysia, Sunview said the financing facility has a tenure of five years from the date it is made available, subject to annual review by the bank.
“The facility is not expected to have any effect on the issued share capital of the company as well as the shareholdings of its substantial shareholders as it does not involve any issuance of new ordinary shares in the company.
“The facility is expected to contribute positively to the earnings of the company once the facility is utilised to generate future income to the company and its subsidiaries.”
Sunview said its board is of the opinion that the financing facility is in the best interest of the group.