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CCM gets US$20m financing facility

June 7, 2018 1:31 PM
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PETALING JAYA: CCM Duopharma Biotech Bhd has secured US$20 million (RM79.4 million) financing from Oversea-Chinese Banking Corporation (Labuan Branch).

It told Bursa Malaysia that the revolving credit-i Murabahah will be used to fund the RM59.16 million acquisition of an 8.39% stake in PanGen Biotech Inc from Chemical Company of Malaysia Bhd.

“Apart from that, the facility will be utilised for general working capital requirement and other investments.”

CCM shares gained 2 sen or 0.6% to close at RM3.40 today on some 307,100 shares done.

Also read: Short selling of HSS Engineering and Gabungan AQRS suspended

Source: thesundaily.my

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