Meta Bright secures RM28mil financing from AmBank

KUALA LUMPUR: Meta Bright Group Bhd’s (MBGB) wholly-owned Australian subsidiary, Meta Bright Sdn Bhd, has secured financing facilities totalling RM28mil from AmBank (M) Bhd.

In a statement, MBGB said the funding expands its business operations and solidifies its relationship with the bank. This initiative is a testament to MBGB’s capability to secure significant banking support within just two years, reflecting the company's successful turnaround and robust growth trajectory.

The funds will be channelled to purchasing high-value equipment for Meta Bright Australia Pty Ltd, which has recently entered into the third leasing contract with Mt Cuthbert Resources Pty Ltd (MCR), a move set to solidify MBGB's presence in the international market and ensure a steady stream of recurring income, estimated at A$222,950 (about RM691,657.78) a month.

“Obtaining these facilities from AmBank within such a short period is not only a milestone for Meta Bright but also a strong endorsement of our business model and strategic direction.

“This financial partnership is pivotal as it supports our next phase of growth and strengthens our relationship with AmBank, setting a solid foundation for future collaborative opportunities,” Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim said.