KTML approves Rs2bn investment in MLCF, MLCL

MG News | September 11, 2023 at 09:12 AM GMT+05:00

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September 11, 2023 (MLN): The Board of Directors of Kohinoor Textile Mills (PSX: KTML) has given the green light to invest up to Rs2 billion in its subsidiaries, Maple Leaf Cement Factory Limited (MLCF) and Maple Leaf Capital Limited (MLCL), to meet their working capital requirements.

A sum of Rs1bn has been sanctioned for MLCF, and a reciprocal facility of loans/advances of Rs1bn for the company's working capital needs has already been recommended by MLCF's board.

KTML's board has also approved Rs1bn for MLCL. Moreover, a reciprocal facility of loans/advances of Rs2bn has already been recommended by the MLCL Board.

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