EVERGREEN Max Cash Capital Bhd (EMCC) has taken a RM60 million short-term revolving credit facility of RM60 million from a local banking group to finance the cash capital of its pawnbroking business of selected subsidiaries.

The facility entails an interest rate of cost of funds plus 1.75% and with repayment on demand condition.

 The loan is secured by several terms, including a debenture over the selected subsidiaries’ pawned loans and interest receivables on pawned loans, the company said in an exchange filing today.

 Evergreen is involved in the pawnbroking industry, retail and trading of gold and luxury products as well as provisions of pawnbroking consultancy and IT solutions services.

Its stock closed 0.5 sen lower at 32.5 sen, giving it a market capitalisation of RM362.3 million. — TMR