Thomson Medical secures S$225 million Islamic revolving credit facility

[SINGAPORE] Thomson Medical Group has obtained a S$225 million Islamic revolving credit facility from Maybank in Singapore, the company said on Thursday (Aug 21).

This facility can be converted into a sustainability-linked one within 12 months, subject to the company and Maybank agreeing on sustainability performance targets that underpin the margin adjustment mechanism.

Thomson Medical will use the proceeds to repay the amounts owed under its existing revolving credit facility, as well as related costs, due in October. The proceeds will also fund the company’s working capital needs, capital expenditure and acquisitions.

Dr Melvin Heng, Thomson Medical’s group chief executive and executive director, said that the facility provides “greater flexibility in managing our capital structure, while positioning us to pursue growth opportunities”.

“We are particularly excited about the ‘sustainability-linked-ready’ feature, which offers a forward-looking pathway to integrate sustainability-linked terms into our financing,” he added.

Maybank has mobilised RM125 billion (S$38 billion) in sustainable finance across Asean from 2021 to the first quarter of 2025, surpassing its target of RM80 billion by this year.

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Shares of Thomson Medical ended Thursday at S$0.047, up 2.2 per cent.