Boon Koon gets OK to issue up to RM 100 million notes

By Jennifer Chiou

New York, Oct. 13 - Boon Koon Group Bhd. said its board received approval from the Malaysian Securities Commission to issue up to RM100 million of Islamic commercial papers and/or Islamic medium-term notes.

AmMerchant Bank Bhd. will be the lead arranger and facility agent.

The company said that any commercial paper issues cannot exceed RM 25 million and the proposed issues will have a tenor of no more than seven years.

Boon Koon said proceeds will go towards financing future Shariah-compliant investments as well as working capital requirements.

Based in Pulau Penang, Malaysia, the company is one-stop rebuilt commercial vehicles manufacturer and distributor.

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