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SECOS Group Ltd ( (AU:MCO) ) just unveiled an update.
MyEco Group Ltd has secured a $1.0 million secured debt facility with Tradeplus24 to fund its working capital needs for anticipated sales growth in the second half of FY25. This non-dilutive financial move is secured against the trade receivables of its subsidiary, Cardia Bioplastics Australia, and is expected to support the company’s strategic growth in the sustainable packaging industry.
More about SECOS Group Ltd
MyEco Group Ltd (ASX: MCO) is a leading developer and manufacturer of sustainable packaging and materials. The company supplies biodegradable and compostable resins and films to a global customer base, and is integrated from resin production to the creation of bags and films. MyEco Group is headquartered in Melbourne, Australia, with additional facilities in China and Malaysia, and sales offices in several countries, supported by a network of distributors across the Americas, Europe, and Asia.
YTD Price Performance: -15.00%
Average Trading Volume: 193,281
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$10.14M
See more insights into MCO stock on TipRanks’ Stock Analysis page.
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