The Board of Directors of Kossan Rubber Industries Bhd (48166-W)("Kossan") wishes to announce that Perusahaan Getah Asas Sdn Bhd (89708-V)("PGA"),a 100% owned subsidiary has accepted a hire purchase facility of RM18.72 million from OCBC Al-Amin Bank Berhad ("OCBC") to finance the purchase of new rubber gloves production lines to be used in PGA's business operations.
Kossan will provide a corporate guarantee of RM18.72 million in favour of OCBC in respect of the facility granted to PGA.
This announcement is dated 19 March 2015.