Latest news with #BankPembangunanMalaysiaBhd
The Sun
26-05-2025
- Business
- The Sun
Bank Pembangunan, Exim Bank jointly provide financing for Duta Marine FSO project
KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) and Export-Import Bank of Malaysia Bhd (Exim Bank), both part of the BPMB group, today formalised a milestone financing deal with Duta Marine Sdn Bhd for the FSO Permata Dulang Project. In a joint statement, the two banks said this marked their first joint transaction following the merger, reflecting the strengthened synergy and unified strategic direction within the group. They said the financing supports the conversion of an oil tanker into a floating storage and offloading (FSO) vessel. 'The new vessel would replace the ageing FSO Puteri Dulang and ensure continued offshore storage and offloading capabilities for the Dulang Field, an oil production site that has been operational for over 40 years,' they said. The facility structure saw BPMB extending RM555 million while Exim Bank contributing US$37 million (RM156 million) in Islamic facilities, to support the oil tanker's purchase, modification, refurbishment, and mobilisation. 'By ensuring continuity of offshore energy operations, the transaction plays a vital role in maintaining infrastructure reliability and supporting long-term national energy resilience,' they said. Exim Bank was appointed as the exclusive arranger to support Duta Marine's charter contract with Petronas Carigali Sdn Bhd, reflecting confidence in Exim Bank's capabilities in structuring and coordinating complex financing transactions in strategic sectors. 'The project is expected to create jobs during both the conversion and operation phases while ensuring the uninterrupted supply chain for Malaysia's oil and gas exports. 'This will subsequently generate economic spillover effects to key growth regions such as Terengganu and reinforce Malaysia's standing in the global energy sector,' they added. – Bernama
New Straits Times
18-05-2025
- Business
- New Straits Times
Bank Pembangunan names former Maybank Islamic boss as new group CEO
KUALA LUMPUR: Former Maybank Islamic Banking group chief executive officer (GCEO) Datuk Muzaffar Hisham has been appointed as Bank Pembangunan Malaysia Bhd's new GCEO effective immediately. He succeeded Roni Abdul Wahab, who had served as GCEO for three years since April 2022. Muzaffar has more than 20 years of regional banking experience, with proven track record in driving business growth and regionalisation strategies across various sectors. This included wholesale and retail banking, investment banking, treasury, asset management and client coverage. In Maybank Islamic Banking, he successfully expanded the scale and reach of Islamic banking, advanced global leadership in Islamic wealth management, and pioneered innovative digital solutions within the group. Bank Pembangunan chairman Datuk Sulaiman Mohd Tahir said Muzaffar's proven leadership and deep understanding of the financial services landscape, both locally and regionally, will be instrumental in driving the bank's strategic direction. "We are confident that under his stewardship, Bank Pembangunan will continue to play a pivotal role in driving Malaysia's national development agenda and delivering long- term value for our stakeholders," he said in a statement. Muzaffar said he looks forward to working closely with the board, management and stakeholders to build on the bank's strong foundation. "Together, we will strengthen BPMB's role as a key development financial institution, dedicated to supporting Malaysia's socio-economic progress and sustainability ambitions. "I am committed to leading our efforts in delivering impact capital for national development," he added.
The Sun
14-05-2025
- Business
- The Sun
BPMB provides financing facility for second phase of Lundu Beach Resort
KUCHING: Bank Pembangunan Malaysia Bhd (BPMB) has formalised a strategic financing partnership with Pangolin Resort Sdn Bhd (PRSB) to support the development of the Lundu Beach Resort in Sarawak. The initiative underscores BPMB's continued commitment in support of the tourism industry to promote Malaysia as a world-class destination and to enhance the country's competitiveness in the global tourism market. Under this partnership, BPMB is extending a RM33.87 million Tawarruq Asset Financing Facility for Phase 2 of the Lundu Beach Resort, which will include the construction of 72 hotel units and 28 villas, along with a banquet hall, outdoor dining space, and restaurant. The project is expected to elevate Sarawak's hospitality offerings and contribute to regional economic development. The resort, strategically located in Lundu, is expected to deliver meaningful socio-economic impact to the area, including the creation of 69 employment opportunities—49 during construction and 20 during operations—as well as generating spillover economic effects to nearby towns and small local businesses. The development may benefit up to 300 people in the community, according to estimates. The financing facility was assessed using BPMB's internal MIND framework (Measuring Impact on National Development), which evaluates alignment with the 12th Malaysia Plan and broader environmental, social and governance (ESG) considerations. The project scored highly under the Development Impact Index, particularly for its potential to stimulate job creation, promote sustainable tourism, and uplift the local community. BPMB head of corporate banking and advisory Wee Yee Tat said, 'This project aligns with our mandate, and more importantly, it addresses key socio-economic goals by creating jobs, supporting local businesses, and enhancing the standard of living in Lundu.' PRSB director Datuk Seri Thomas Lau said, 'We are honoured to work alongside BPMB in bringing this vision to life. 'The Lundu Beach Resort will not only showcase the beauty of Sarawak's coastline, but also serve as a catalyst to boost tourism, stimulate local economic activity, and create meaningful opportunities for the surrounding communities.' With this collaboration, BPMB continues to deliver impact capital into projects that not only generate economic value but also uplift local communities and strengthen the nation's tourism ecosystem. The Lundu Beach Resort stands as a testament to what purposeful financing can achieve when aligned with national priorities and local aspirations.
