MBSB inks RM1.3b financing pact to fuel Cypark's renewable energy growth
The landmark facility, which combines refinancing and working capital solutions, is designed to strengthen Cypark's capital structure, improve cash flow management, and create capacity for future growth.
As part of the arrangement, Cypark will also place funds into MBSB's Sustainable Term Deposit-i, a product that channels deposits into environmentally and socially responsible projects.
The partnership not only bolsters Cypark's role in Malaysia's fast-expanding clean energy sector but also underscores MBSB's growing leadership in financing the nation's transition towards a low-carbon economy.
MBSB group chairman Datuk Wan Kamaruzaman Wan Ahmad said the facility marked "a milestone in our own transformation as we align Islamic finance with national energy goals.
"By matching capital to long-term renewable assets, we are also shaping Malaysia's clean energy future.
"Cypark is Malaysia's integrated renewable energy and environmental solutions provider. The company is recognised for its pioneering projects in solar, biogas and waste-to-energy, including the country's first SMART Waste-to-Energy facility.
"With an installed renewable energy capacity of 400 megawatts, Cypark plays a critical role in Malaysia's decarbonisation pathway and in reducing national carbon emissions," he said in a statement.
Wan Kamaruzaman added that the exercise represented another significant milestone in the group's Cypark 2.0 transformation journey, a strategy to strengthen its financial foundation, enhance operational delivery and accelerate clean energy growth.
Through this financing, he said, MBSB will refinance Cypark's established renewable energy assets in solar and waste-to-energy initiatives.
Meanwhile, Cypark chairman Tan Sri Abdul Wahid Omar said the refinancing of the group's debt eases a key financial burden and positions the company to pursue sustainable growth while maximising returns to shareholders.
"We value MBSB Bank not only as a financier but also as a strategic partner who shares our vision for a low-carbon economy for Malaysia.
"Their confidence in our capabilities and commitment to the nation's energy transition have been instrumental in achieving this milestone.
"We look forward to working closely with MBSB Bank to deliver robust solutions for a firm renewable energy supply to the grid."
As Malaysia accelerates towards its renewable energy goals, MBSB said this facility sets a benchmark for how financial innovation and sustainability can converge.
For MBSB and Cypark, the partnership is not just about financing but about powering progress, securing a low-carbon energy future and creating a lasting positive impact for generations to come.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
6 hours ago
- New Straits Times
Citaglobal secures RM169mil JKR contract to upgrade FT3 highway
KUALA LUMPUR: Citaglobal Bhd has secured a RM168.88 million contract from the Public Works Department (JKR) to upgrade part of the FT3 federal highway, boosting its orderbook to RM1.3 billion. The contract, awarded to its unit Citaglobal Land Sdn Bhd, involves upgrading existing roads including six bridges and five junctions. It also covers earthworks, drainage, road pavement, traffic management, lighting and other ancillary works. It forms part of the wider FT3 federal road upgrade, which involves expanding Jalan Kota Bharu–Kuala Terengganu from a two-lane single carriageway to a four-lane dual carriageway built to JKR standards. The FT3 highway spans 739 kilometres from Rantau Panjang, Kelantan, at the Thai border, to Johor Bahru. The contract is expected to be completed within 42 months from the date of site possession. Executive chairman and president Tan Sri Mohamad Norza Zakaria said the award underscored the group's track record in infrastructure delivery. "Securing this contract is a testament to Citaglobal's reputation as one of Malaysia's leading civil engineering and construction players and deepens our involvement in nation-building infrastructure projects," he said in a statement. Norza added that while the group is diversifying into renewable energy and technology, civil engineering and construction remain its core and stable earnings driver. "We thank the Works Ministry and JKR for this opportunity and look forward to another successful project," he said.
The Sun
6 hours ago
- The Sun
Evergreen Max Cash Q2 FY25 profit jumps 66% as revenue doubles
KUALA LUMPUR: Pawnbroking service provider Evergreen Max Cash Capital Bhd (EMCC) continued to deliver strong growth for Q2 FY25, ending June 30, 2025, with revenue growing 100.8% year-on-year (YoY) to RM48.8 million from RM24.3 million in Q2 FY24. Net profit for Q2 surged 65.8% YoY to RM9.3 million compared to RM5.6 million in Q2 FY24. The strong performance was underpinned by growth across all key business segments, namely, conventional pawnbroking, retail and trading of gold and luxury products, as well as the Tawarruq products segment. The strong growth was mainly fueled by the availability of cash capital from internally generated funds, the strategic utilisation of borrowings to support pawn loan deployment, and favourable gold prices, which averaged US$3,272/oz in Q2 FY25 versus US$2,327/oz in Q2 FY24. For the cumulative six-month period, EMCC recorded revenue of RM94.7 million in 1H FY25, which represents an increase of 84.7% from RM51.3 million in 1H FY24. Net profit rose 58.5% YoY to RM16.3 million compared to RM10.3 million a year earlier. In 1H FY25, the conventional pawnbroking segment recorded revenue of RM25.8 million, a 30.9% YoY increase, driven by higher pawn loans disbursed, which rose RM72.7 million or 28.6% YoY. The gold and luxury retail and trading segment also delivered a significant 97.0% YoY increase in revenue to RM59.6 million, supported by higher sales volume of unredeemed pledged gold and pre-owned gold items. Meanwhile, the Tawarruq products segment continued to gain traction, with 1H FY25 revenue increasing more than six-fold to RM9.3 million. This reflects the group's successful expansion into Islamic pawnbroking under the Tawarruq concept. Pawn loans disbursed under this segment increased by RM131.3 million, representing a 670.8% YoY growth. As of July 31, 2025, EMCC operated a total of 91 outlets, comprising 29 conventional pawnshops and 62 Islamic pawnshop branches across Kuala Lumpur, Selangor, Negeri Sembilan, Pahang, Perak and Terengganu. Commenting on the group's financial achievements, executive director and group managing director Datuk Low Kok Chuan said, 'Our strong first half financial performance underscores the resilience of the group's business model. 'We remain on track to achieve the target of 100 outlets by the end of 2025, while the strategic emphasis on Islamic pawnbroking is already showing promising results, with the segment growing rapidly and becoming an increasingly pivotal part of the business. 'Through ongoing engagement with financial institutions, we have further strengthened awareness and understanding of the pawnbroking industry, which in turn has translated into greater confidence in extending financing. 'This was reflected in the RM40.0 million revolving credit facility secured with CIMB Bank in May 2025, as well as the completion of the Islamic Redeemable Convertible Preference Shares (RCPS-i) subscription with DPK Private Equity in August 2025, which raised another RM40.0 million. 'Looking ahead, we are optimistic about EMCC's growth prospects. Backed by our expanding loan book, swift rollout of pawnshop outlets, and improved funding capacity, the group is hence well-positioned to capture the market further,' Low concluded. The board has declared an interim single-tier dividend of 0.3 sen per ordinary share, amounting to approximately RM3.3 million, for the current quarter under review. This represents a 20.2% payout based on 1H FY25 net profit of RM16.3 million.
Malaysian Reserve
13 hours ago
- Malaysian Reserve
MBSB: Malaysia's consumer sector to stay resilient on strong fundamentals
MALAYSIA'S consumer sector is expected to remain resilient, supported by strong macroeconomic fundamentals, policy measures and structural growth drivers, MBSB Investment Bank said. In a research note, the investment bank said measures under the 13th Malaysia Plan, including higher minimum wages, cash aid and fuel subsidies, would help sustain household incomes. Together with the recent 25-basis-point cut in the overnight policy rate, these initiatives are expected to boost disposable incomes and support household spending power. 'This is further supported by stable labour market conditions, a benign inflation outlook and a firm recovery in tourism, with stronger ASEAN and Chinese arrivals fuelling retail, food and beverages, and discretionary demand. 'On the cost side, a firmer ringgit and easing input costs should improve margins, enhancing earnings visibility,' MBSB said. Coupled with the sector's defensive tilt, where staples continue to provide resilience, the consumer sector remains well positioned to outperform in a volatile market, it added. MBSB also said the consumer sector is well positioned to benefit from tourism-driven consumption, as the rebound in tourist arrivals provides a structural uplift for consumer-oriented businesses, particularly across fast-moving consumer goods, convenience retail and discretionary segments. It said increased foot traffic in airports, malls and tourist hotspots is expected to translate into stronger demand for bottled beverages, ready-to-eat snacks and casual dining. — BERNAMA
