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Saturday, 15 August 2026

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Resintech Unit Secures RM41 Million to Fund Selangor Hostel Development

By TLA AI Editor3 min read

Kuala Lumpur, 15 August 2026 – Resintech Berhad’s 55%-owned subsidiary, Johan Panglima (M) Sdn Bhd, has secured RM41 million in commodity murabahah term financing from Alliance Islamic Bank to redeem land and partly finance a hostel and retail development in Selangor.

The facilities will be used to redeem four parcels in Mukim Telok Panglima Garang, Kuala Langat, and fund 80% of the proposed project’s construction cost. The development is planned to contain 158 hostel units, four retail shops, a canteen and supporting facilities. The mix suggests a project centred on worker or institutional accommodation with a small commercial component serving residents and the surrounding area.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.