CCM shares up on news of financing facility from OCBC Al-Amin

by BERNAMA / pic credit: ccmberhad.com

CHEMICAL Company of Malaysia Bhd’s (CCM) shares on Bursa Malaysia went up in the early trading session today following news of its receipt of a RM28 million Islamic financing facility from OCBC Al-Amin Bank last week.

As at 11.31 am, the counter rose seven sen to to RM2.47 with 1.69 million shares changing hands.

In a filing with Bursa Malaysia on Friday, CMM said the facility, received via its wholly-owned subsidiary CMM Chemicals Sdn Bhd, will be used to finance its combined heat and power (COGEN) plant project in Pasir Gudang, Johor.

On Nov 29, 2019, CCM announced it had awarded Sime Darby Bhd the RM27.9 million contract to construct the COGEN plant.

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