KUALA LUMPUR: Nextgreen Global Bhd (NGGB) today accepted a working capital financing-i (WCF-i) of RM50 million from Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat).
In a filing with Bursa Malaysia, NGGB said the WCF-i, which is under the shariah principle of tawarruq , would be used to finance general working capital requirements related to the group’s business activities.
“The tenure for each disbursement is 12 months (on a revolving basis), with an overall facility tenure of up to five years from the date the facility is made available or the date of first disbursement, subject to the bank’s discretion and its right to review and reassess the facility,” it said.
The loan facility would not have any effect on the issued and paid-up capital of the company or the shareholdings of the company’s substantial shareholders.
It is also not expected to have any immediate impact on the net assets and earnings per share of the company. – BERNAMA
