Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of SunCon wishes to announce that Sunway Concrete Products (S) Pte Ltd (“SCPS”), a wholly-owned subsidiary of SunCon, has secured the Commodity Murabaha Term Financing facilities (CMTF1 & 2) totaling up to S$47 million from Malayan Banking Berhad, Singapore Branch (“Maybank”) to refinance SCPS’s existing outstanding loan and the construction costs of the Integrated Construction and Prefabrication Hub (ICPH) under HL-Sunway JV Pte Ltd.

Apart from the CMTF1 & 2, SCPS has also secured a Revolving Credit Facility of S$3 million on Commodity Murabaha basis and a Trade Facility of S$3 million from Maybank for working capital purpose. 

SCPS has an issued share capital of S$12 million, comprising 12 million ordinary shares. The principal activity of SCPS is manufacturing and sale of precast concrete building components.

This announcement is dated 22 November 2021.