KUALA LUMPUR (Oct 12): SAM Engineering & Equipment (M) Bhd plans to inject another RM200 million into its equipment business in Thailand in its current financial year ending March 31, 2024 (FY2024) and the following year.
According to the minutes of the group’s annual general meeting conducted on a virtual basis on Sept 27, SAM said that as it continues to win more projects, it may require additional investment. The minutes were filed with Bursa Malaysia on Thursday.
“We have several options to fund our investment, including from internal funds, bank borrowings and raising funds from the public market,” the group had said in response to a shareholder’s question during the meeting.
According to its 2023 annual report, SAM’s capital expenditure in FY2023 stood at RM222.9 million, which it noted was “mainly for capacity expansion of its equipment business in…
