2 weeks Ago
KUALA LUMPUR: Meta Bright Group Bhd ’s subsidiaries, Expogaya Sdn Bhd (EXPO) and Jesselton Concrete Sdn Bhd, have secured a total of RM43.85mil in banking facilities from Hong Leong Bank Bhd . Meta Bright said these facilities are set to fuel operational scalability for both EXPO and Jesselton, facilitating the procurement of advanced machinery, ensuring consistent working capital, and supporting project expansions to meet Sabah’s escalating demand for construction materials.
“Securing these facilities reflects a solid endorsement from Hong Leong Bank, underscoring the financial community’s confidence in our growth trajectory and operational resilience. “This added financial support enables us to meet the escalating demand for concrete in Sabah, fueled by large-scale infrastructure projects outlined in Budget 2025. With these facilities, we are well-prepared to reinforce our role as the region’s primary concrete supplier, providing materials essential for Sabah’s development,” Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said in a statement.
The facilities allocated to EXPO, a 70%-owned subsidiary of Meta Bright, include RM5mil in industrial hire purchase, RM2.5mil Forward Exchange Contract Facility and RM23.35mil in various banking facilities, totalling RM33.
35mil. Jesselton, a wholly-owned subsidiary of EXPO, has also accepted RM1mil in industrial hire purchases alongside RM12mil in additional banking facilities..
