RHB to provide RM31.35mil in financing for PR1MA projects in Kelantan
RHB Islamic Bank Bhd will be providing financing facilities totalling RM31.35 million to part finance two PR1MA projects in Kelantan.
The facilities encompass the financing to property developers, AUEI Teras Holdings Sdn Bhd (AUEI) and Vertex Central Industries Sdn Bhd, for a total amount of RM17.75 million for a PR1MA project in Kubang Kerian, and RM13.6 million for another PR1MA project in Machang, respectively.
The collaboration was announced at an expo hosted by TERAJU entitled ‘Memacu Agenda Bumiputera 2017 – Launching of Bumiputera Economic Transformation Roadmap 2.0 (BETR 2.0)’ at the KL Convention Centre yesterday.
On December 10, 2012, RHB Islamic Bank Bhd entered into a financing collaboration with TERAJU to facilitate access to funding and advisory services to TERAS companies.
RHB Islamic was the first Islamic Commercial Bank to partner with TERAJU in assisting high performing, bankable SMEs with readily available funds of RM1 billion comprising RM400 million in working capital financing and RM600 million in asset acquisition.