Maxim Global 51% owned subsidiary, Prominent Maxim Sdn Bhd has accepted the letter of offer from Maybank for a Commodity Murahabah Term Financing is which an Islamic banking facility for RM20.5 million.
The loan amount is to be used for the leasehold land acquisition in Setapak the group inked back in October 2021. Maybank has placed conditions for the execution of the facility including for the Master Facility Agreement to be executed, Asset Sale Agreement with Shariah-compliant, and Corporate Guarantee for the total sum.
Apart from incidentals, the group does not see the loan bearing any impact on its finances except for the interest cost that will be capitalised or charged out as profit and loss.
