Kumpulan Perangsang Selangor to see higher gearing with RM120 million facility

PETALING JAYA: Kumpulan Perangsang Selangor Bhd's (KPS) gearing is expected to rise from 0.2 to 0.52 times with the acceptance of RM120 million facility from Bank Islam Malaysia Bhd.
It told Bursa Malaysia that its 51%-owned subsidiary KPS-HCM Sdn Bhd had on March 2 accepted a Business Cash Line-I (Tawarruq) facility of RM120 million for a period of one year, subject to yearly review.
The facility is intended to be used to part finance KPS-HCM's infrastructure works for the development of Phase 3C of the Pulau Indah Industrial Park, which was awarded by Central Spectrum (M) Sdn Bhd in June last year.
KPS shares were unchanged at RM1.28, with some 110,700 shares changing hands.