Fibromat (M) (KLSE:FIBRO) unit MTS Fibromat accepted a revised offer for up to 5 million ringgit in Shariah-compliant financing from debt fundraising platform operator Bursa Malaysia RAM Capital, according to a late Wednesday Malaysian bourse filing.
Shares dropped about 2% in late morning trade on Thursday.
The loan will have a tenure of 18 months from the date of issuance.
MTS Fibromat will use the funds to finance its ongoing project requirements, the erosion control products manufacturer said.
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