Ahmad Zaki gets RM100m loan facility for Tok Bali

Ahmad Zaki Resources Bhd has accepted a RM100 million banking facilities from Affin Bank Bhd for its Tok Bali Supply Base in Kelantan.

In a filing with Bursa Malaysia on Friday, the construction group noted its 51%-owned subsidiary Matrix Reservoir Sdn Bhd (MRSB) has signed a facilities agreement with Affin Bank to supplement the general capital expenditure and working capital requirements in relations to its operations at the Tok Bali oil and gas supply base and industrial cluster.

Ahmad Zaki will provide a corporate guarantee for the loan facility, a debenture and third party debenture incorporating fixed and floating charge over all present and future assets of MRSB and its wholly-owned subsidiaries will be credited in favour of the bank.

Ahmad Zaki shares closed one sen or 1.37% lower on Friday, giving it a market capitalisation of RM382.78 million.