Sunview secures US$5.5m facilities for solar imports

Sunview Group Bhd has received banking facilities from Export-Import Bank of Malaysia Bhd to its wholly-owned subsidiary, Fabulous Sunview Sdn Bhd.

The facilities include an Islamic financing facility under Import Financing-i and Forward Foreign Exchange-i, totaling US$5 million and US$500,000, respectively, aimed at financing working capital requirements for solar PV module importation and hedging against foreign exchange rate fluctuations.

The acceptance of these facilities is expected to positively contribute to the Group’s earnings and does not affect the company’s issued share capital or substantial shareholders’ holdings. –TMR