MULTIFIELD INTL (00898) intends to provide guarantee for 49% repayment obligation of Torus Development Sdn. Bhd under the loan agreement.

MULTIFIELD INTL (00898) announces that on November 11, 2024, the company entered into a company guarantee as a lender beneficiary for the borrower (Torus Development Sdn. Bhd., an indirect non-wholly owned subsidiary of Oriental Prosperity with indirect ownership of 49%) to provide a guarantee for 49% repayment obligation under the loan agreement. The total principal amount of the loan is up to RM 141 million, which will be used by the borrower for the acquisition and development of the land.