KTM invests Rs1bn in Maple Leaf Cement

MG News | October 27, 2022 at 02:57 PM GMT+05:00

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October 27, 2022 (MLN): The shareholders of Kohinoor Textile Mills Limited (PSX: KTML) resolved to invest up to an aggregate sum of Rs1 billion in the form of loans/advances to Maple Leaf Capital Limited for a period of one year commencing November 01, 2022, to October 31, 2023, the company filing on PSX showed.

The aforementioned amount is to extend at the markup rate of 1% for three months KIBOR or 1% above the average borrowing cost of the company, whichever is higher.

To recall, on September 28, 2021, the company was authorized to extend a facility of similar nature to the extent of Rs1bn which is valid till October 31, 2022.

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