KUALA LUMPUR, June 24 (Bernama) -- Recron (M) Sdn Bhd, an integrated polyester and textile company, has signed an agreement for US$190 million (RM570 million) syndicated term loan with six banks, including Citibank Bhd and HSBC Bank Malaysia Bhd.
The rest are Barclays Bank plc, Bank of Tokyo-Mitsubishi UFJ Ltd, Sumitomo Mitsui Banking Corp and Mizuho Corporate Bank Ltd, according to a statement from the company.
Recron is part of the Reliance Group, India's largest private sector enterprise, with businesses in the energy and materials value chain.
The Malaysian unit has state-of-the-art manufacturing sites in Nilai and Melaka, with 90 per cent of its products exported to more than 60 countries.
It has a turnover of RM3.2 billion last year, and earned foreign exchange to the tune of US$895 million for the country, the statement said.
-- BERNAMA
