Thursday 26 Dec 2024
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KUALA LUMPUR (Nov 17): Chemical Company of Malaysia Bhd (CCM) has signed a term loan facility for US$18 million with Sumimoto Mitsui Banking Corp Malaysia Bhd, and has subsequently draw down the funds.

In a filing with Bursa Malaysia today, CCM said the proceeds will be used to finance its capital expenditure in relation to an operational efficiency project undertaken by its subsidiary CCM Chemicals Sdn Bhd for its chemical plant in Pasir Gudang, Johor.

The balance will be used for other general working capital purposes.

CCM said the facility will not have any material effect on the earnings of the group for the financial year ending Dec 31, 2015.

CCM shares closed up 0.99% or one sen at RM1.02 today, bringing a market capitalisation of RM459.2 million.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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