Sunview Group Berhad, a company listed on the ACE Market of Bursa Malaysia Securities Berhad, has announced that its wholly-owned subsidiary, Fabulous Sunview Sdn. Bhd., accepted RM30 million in banking facilities from Bank Muamalat Malaysia Berhad.
The facilities comprise RM500,000 under the Muamalat Cashline-i (General) and RM29.5 million in Letter of Credit-i (LC-i) / Muamalat Cashline-i (Invoice) Pre-Financing and Kafalah Bank Guarantee-i (KBG-i). These funds are expected to support the company’s operational needs and future growth initiatives.
Sunview stated that the financing arrangement will not affect its issued share capital or the shareholdings of its substantial shareholders. The facilities are expected to positively impact the company’s earnings once fully utilized to generate additional income for the group. The company’s debt-to-equity ratio is projected to increase from 0.95 to 1.05 following the acceptance and utilization of the facilities.
The Board of Directors, after reviewing all aspects of the deal, concluded that the acceptance of these banking facilities is in the best interest of the company. No directors or major shareholders have any direct or indirect interest in the transaction.
