The Board of Directors of Chemical Company of Malaysia Berhad announced that the company, through its wholly-owned subsidiary, CCM Chemicals Sdn Bhd ("CCMC") has entered into an agreement to accept the Islamic Financing Facility from OCBC Al-Amin Bank Berhad ("OCBC") for an amount of MYR 28.0 million ("Facility"), to finance CCMC's Combined Heat and Power Plant ("COGEN") project, upon the terms and conditions as contained in the Bank's offer letter. On 29 November 2019, the Company had announced to Bursa Malaysia Securities Berhad that it had awarded a contract to Sime Darby Energy Solutions Sdn Bhd, a wholly-owned subsidiary of Sime Darby Berhad to engineer, procure, construct and commission the COGEN project at a contract price of MYR 27.9 million at CCMC's Pasir Gudang chlor alkali plant in Johor. The Facility shall be used to finance the cost incurred in relation to the COGEN project. The principal shall be paid within seven years by twenty-four equal instalments. The first instalment is to commence within three months from the expiry of the Availability Period (12 months from the first utilisation/disbursement). Profit is to be paid quarterly in arrears on the day following the end of the profit period until the Facility is fully settled.