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CCMD Signs Islamic Financing, Multi-trade Facilities With AmBank Islamic Worth RM280 Million
Last update: 20/06/2017

KUALA LUMPUR, June 20 (Bernama) -- CCM Duopharma Biotech Bhd (CCMD) has signed Islamic financing and multi-trade facilities worth RM280 million with Ambank Islamic Bhd.

In a filing to Bursa Malaysia today, the medicine and pharmaceutical products manufacturer said, the facilities were the Murabahah Tawarruq Term Financing Facilit, worth RM250 million (TF-i) and a RM30 million Islamic Multi-Trade Facilities (MTF-i).

"The TF-i will be used to finance the capital expenditure/ expansion / construction of new plants and purchase of machinery to be undertaken by the company's wholly-owned units.

"The tenure shall be up to a period of 10 years from the date of its first disbursement," it said.

On MTF-i, CCMD said, the facility would be used to support its project and business operations.

"The facilities are expected to increase the gearing of the company to 0.87:1 from 0.25:1," it said, adding that neither would have any material effect on the earnings of the company for the financial year ending Dec 31, 2017.

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