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pay debt then after listing no more debt this company. the gearing ratio very healthy.. aim to be main cons TNB and many more project to come also with almost 300 milion ongoing project with secured in order book.
The repayment of bank borrowing will save them interest cost in long run. Also, that amt of RM7mil is still reasonable i.e only 3% of their unbilled orders of RM233.25mil.
Yes, it's true that the 7 million is 30% of the IPO proceeds. However, the payment is used to settle their bank trade line facility, such as BA and LC. These lines are revolving and can be re-utilized to support new projects. It's a positive move right?