Country View Obtains MYR 31 Million Shariah-Compliant Facility from AmBank Islamic

Malaysia-based property development company, Country View (CV) has secured a MYR 31 million Murabahah Tawarruq Revolving Credit-I (RC-i) facility from AmBank Islamic.

According to CV, MYR 22 million of this revolving Murabahah facility will be absorbed by its fully-owned subsidiary, Country View Resources (CVR) for working capital requirements.

Meanwhile, there will also be a bank guarantee of MYR 9 million according to a stock exchange filing by CV.

CV added that the financing facility obtained from Ambank Islamic will be secured against an Open All Monies Facilities Agreement to be entered into between CVR and AmBank Islamic and CVR’s co...