KUALA LUMPUR, Dec 2 — Titijaya Land Bhd has signed a framework agreement (FA) with Stone Master Corp Bhd (SMCB) for the products and services provided by SMCB at competitive prices on selected development projects.
In a filing to Bursa Malaysia Wednesday, Titijaya said SMCB agreed to offer the products and services, coupled with interest-free vendor financing services to the company, over 18 months from the date thereof in the FA.
Titijay would accept the dual offers subject to all the salient terms and conditions as stated therein in the FA, it said.
“Under the FA agreement, payments will only be made after the completion with favourable deffered payments terms of 60 months with no interest charges.
“This will contribute positively towards the company’s operating cash flow,” it said.
It said the FA was not expected to have any material effect on the earnings, gearings and net assets of Titijaya for the financial year ending June 30, 2016.