KUALA LUMPUR (Sept 20): Pos Malaysia Bhd has accepted Commodity Murabahah Term Financing facilities of RM500 million from Maybank Islamic Bhd.

In a filing with Bursa Malaysia, Pos Malaysia said the money would be used to finance the group’s investment in capital expansion programmes.

“The principal of the facilities shall be paid by 22 equal quarterly payments and one final payment for the remaining balance, to commence 18 months from the date of disbursement of the facilities,” the group said.

Pos Malaysia said the facilities are expected to increase the gearing of the group from 0.24 times to 0.59 times.

The group said the facilities will be used to fund income generating investments, and as such the investments are expected to generate positively to its earnings.

Shares of Pos Malaysia fell four sen or 1.1% to close at RM3.59, giving it a market capitalisation of RM2.81 billion.