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IWH gets RM371m loan from CIMB for Bandar Malaysia project

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IWH gets RM371m loan from CIMB for Bandar Malaysia project Others


Iskandar Waterfront Holdings Sdn Bhd (IWH) inked a RM371 million facility agreement with CIMB Bank Bhd on 22nd, which will go towards part financing the 60% investment made by IWH-CREC, the consortium between IWH and China Railway Group Limited (CREC), into Bandar Malaysia.
 
The signing of the agreement marks CIMB’s involvement as the first Malaysian bank in the project.
 
“Given the strategic location for Bandar Malaysia Project in Kuala Lumpur, we are highly confident in the national project has the prospects to become the country’s foremost integrated transportation and financial hub.
 
“We are glad that CIMB, as the first local Malaysian bank to provide facility for the Bandar Malaysia project. This indicates clear signal that CIMB is confidence in the prospects of this mega project,” said IWH executive vice chairman Tan Sri Lim Kang Hoo in a statement today.




(Source: The Sundaily)





 
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