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21 SEPTEMBER 2017 AL CIRCLE

Malaysia’s aluminium can producer secures $60m loan for new plants in Myanmar

EDITED BY : HEENA IQBAL 1MINS READ

Kian Joo Can Factory, aluminium can manufacturer in Malaysia, said that the company secured $60 million as debt investment in order to support its manufacturing facilities in the Thilawa Special Economic Zone near Yangon, Myanmar.

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The two plants will manufacture aluminium and tin cans for paints and beverage industry. The company had invested $23.5 million to build the manufacturing facilities. The remaining amount of the $100 million total investment is expected to come from internal financing.

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“We work closely with international banks and for Myanmar, we work with Singapore and Japanese banks. Officially, the letter of offer (from the banks for Myanmar) was received a few months back,” said Ooi Teik Huat, group chief financial officer of Kian Joo Can (Myanmar) to DEALSTREETASIA.


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EDITED BY : HEENA IQBAL 1MINS READ

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