Puncak Niaga's sub-subsidiary executes agreement on RM290 mln Islamic banking facility

Puncak Niaga Holdings Bhd's (PNHB) sub-subsidiary, Danum Sinar Sdn Bhd (DSSB), has executed the agreement relating to the acceptance of a RM290 million Islamic banking facilities from Affin Islamic Bank Bhd.

In a filing to Bursa Malaysia today, PNHB said, the facilities would enable DSSB to refinance its existing outstanding banking facilities and to be used for its plantation development and the working capital for its day-to-day requirements.

"The facilities are not expected to have any material effect on the earnings, net assets and gearing of the PNHB Group for the financial year ending Dec 31, 2017," it said.

-- BERNAMA