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

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.

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.

“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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