Latest news with #EximBank
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
The Star
26-05-2025
- Business
- The Star
BPMB, EXIM Bank provide joint financing for offshore oil and gas milestone
From left: Faizah Mustapa, chief business officer of EXIM Bank Malaysia, Mahyudden Abdul Wahab, director and shareholder of Duta Marine and Mohamed Nazri Omar, managing director, group corporate and investment banking of BPMB after the signing of the FSO Permata Dulang financing agreement 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 (US$1=RM4.21) 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
The Sun
21-05-2025
- Business
- The Sun
Exim Bank seals strategic aerospace partnerships with Naico and PWN Excellence
KUALA LUMPUR: Export-Import Bank of Malaysia Bhd (Exim Bank) has forged strategic partnerships with the National Aerospace Industry Corporation Malaysia (Naico) and PWN Excellence Sdn Bhd (PWNE). The alliance aims to boost innovation, financing accessibility and global competitiveness in Malaysia's aerospace sector. The partnerships were formalised with the inking of a memorandum of understanding (MoU) with Naico and an Islamic term financing facility agreement worth RM30.23 million with PWNE at the LIMA 2025, witnessed by Deputy Investment, Trade and Industry Minister Liew Chin Tong. In a statement, Exim Bank said the MoU with Naico provides a collaborative framework to strengthen the aerospace sector, a key industry under the New Industrial Master Plan 2030. Under the agreement, Exim Bank will offer tailored financial solutions, including trade and project financing, export credit takaful and collaboration with equity financing partners to address financing gaps and empower aerospace businesses. 'The Islamic term financing facility agreement with PWNE will support the acquisition of a full flight simulator, expanding Malaysia's aviation training capacity. 'This facility brings Exim Bank's total financing for PWNE to over RM107 million,' it added. Exim Bank president and CEO Nurbayu Kasim Chang said Malaysia's aerospace sector holds immense potential to drive innovation, create high-income jobs and boost global competitiveness. 'Through our partnerships with Naico and PWNE, Exim Bank is delivering the strategic financing and support needed to build world-class capabilities, expand training infrastructure, and position Malaysia as a regional hub for aerospace excellence,' she said. According to Exim Bank, Malaysia's aerospace industry is experiencing rapid growth, backed by RM1.5 billion in approved investments in 2024, with a strong inflow of foreign direct investments. 'As the global aerospace market heads toward US$3 trillion (RM12.8 trillion) by 2035, Malaysia is emerging as a high-value aerospace hub, attracting top players like Boeing, Airbus, Safran, and Rolls-Royce into its thriving aerospace supply chain. 'As such, Malaysia is poised to support the comprehensive supply chain ecosystem, from aeromanufacturing, maintenance, repair and overhaul and engineering, to research and development,' it said. – Bernama
The Star
19-05-2025
- Business
- The Star
Muzaffar is Bank Pembangunan's new group CEO
PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) has appointed Datuk Muzaffar Hisham as its new group chief executive officer (GCEO), effective May 18, 2025. Formerly the GCEO of Maybank Islamic Bhd, Muzaffar brings with him over 20 years of regional banking experience, the development financial institution said in a statement. 'Muzaffar has a proven track record in driving business growth and regionalisation strategies across various sectors, including wholesale and retail banking, investment banking, treasury, asset management and client coverage,' BPMB said. He takes charge shortly after BPMB completed its acquisition and merger with Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) and Export-Import Bank of Malaysia Bhd (Exim Bank). Effective May 1, both Exim Bank and SME Bank became subsidiaries of BPMB, creating a combined asset base of about RM50bil. 'It is an honour to join BPMB at this important juncture. 'I look forward to working closely with the board, management and stakeholders to build on the bank's strong foundation,' Muzaffar said.
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Business Standard
07-05-2025
- Business
- Business Standard
Exim Bank withdraws planned 10-yr bond issuance over high yield demands
Exim Bank on Wednesday withdrew its planned 10-year bond issuance as investors were demanding higher-than-expected yields for the issuance, according to multiple sources. The bank had planned to raise ₹2,500 crore through 10 year bonds. The base issue size was ₹500 crore and the green shoe option was ₹2,000 crore. According to market insiders, Exim Bank expected tighter levels for their up to ₹2,500 crore issue since they are a very infrequent issuer in the 10-year segment. Additionally, sources indicated that Exim Bank received bids with a cut-off yield of 6.86 per cent for ₹1,655 crore, 6.87 per cent for ₹1,955 crore, and 6.88 per cent for ₹2,705 crore. From the issuer point of view, these levels were slightly higher and also slightly higher than NTPC's cut off, which raised Rs 4,000 crore at 6.84 per cent on Wednesday through 10 year bonds, sources said. 'Exim bank withdrew because of high levels. For the broader picture, even though the levels are the same today, there could be some impact moving forward on some issuances, however, it depends on how it goes,' said a market participant. State-owned Exim Bank promotes, finances, and facilitates India's international trade. It offers financial assistance to exporters and importers, supporting them in identifying business opportunities, enhancing global competitiveness, and managing trade-related risks.
