KUALA LUMPUR (Sept 30): Zecon Bhd (KL:ZECON) has entered into an RM852 million Tawarruq asset financing facility agreement with Bank Pembangunan Malaysia Bhd for the development of Hospital Pakar Kanak-Kanak Universiti Kebangsaan Malaysia in Kuala Lumpur.

The project aims to expand healthcare services for children in Malaysia and support Zecon’s operations, the bank said in a statement on Monday.

The facility underwent assessment through Bank Pembangunan’s Measuring Impact on National Development (MIND) framework, ensuring alignment with environmental, social, and governance (ESG) standards and the government’s 12th Malaysia Plan (RMK12) objectives, it noted. 

Bank Pembangunan group chief executive officer Roni Abdulwahab said the financing aligns with the bank's "counter-cyclical role" in supporting sustainable long-term infrastructure investments, in line with the government's infrastructure development agenda.

“As a Bumiputera-controlled company with Pribumi roots in Sarawak, Zecon significantly advances Malaysia’s broader national development agenda,” Roni said.

Meanwhile, Zecon group managing director Datuk Zainal Abidin Ahmad said the partnership strengthens the group’s financial position, enabling it to focus on delivering critical infrastructure projects.

Shares in Zecon were last traded at 48 sen, giving the company a market value of RM70.9 million.