Kelington Secures US$14 Million Loan For China Project From EXIM Bank

KUALA LUMPUR, Jan 7  -- High-technology engineering solutions provider Kelington Group Bhd has secured a US$14 million (about RM45 million) loan from Export-Import Bank of Malaysia Bhd (EXIM Bank).

The company said in a statement today that the loan would be used as working capital for its latest project to provide ultra-high purity (UHP) mechanical and electrical services and medical systems to Kang Hui Maternity Centre Services (Shanghai) Co Ltd.

Kelington was earlier awarded the contract worth US$46 million from Kang Hui.

Chairman Raymond Gan said the company had completed several other UHP-related projects in China since it established a presence there in 2004.

"We aim to expand into new sectors outside the semiconductor industry which has been our core clientele for many years," he added.

The latest contract with Kang Hui marked its foothold in the healthcare industry, he said.

Kang Hui is a Singapore-owned company specialising in providing maternity care and its asset located at Holland Village Shanghai, which houses specialist medical services and medical suites.

-- BERNAMA