Sabah Ports Signing Ceremony |
| Monday,24 February 2020 ----------------------------------------------------------------------------------------------------------------------------------------- KUALA LUMPUR, 24 February 2020 - A signing ceremony was held in Kota Kinabalu, Sabah on 21 February 2020 for the signing of a Tawarruq Financing Facility of RM80.0 million between Bank Pembangunan Malaysia Berhad (“BPMB”) and Sabah Ports Sdn Bhd (“Sabah Ports”). The financing facility under the Maritime Fund 2.0 managed by BPMB will be utilised for Sabah Ports’ jetty extension project for the Sapangar Bay Oil Terminal (“SBOT”) which is set to be the region’s oil and gas terminal hub. “Bank Pembangunan will continue to support the developmental agenda whilst promoting sectors of strategic importance to the overall socio-economic development of the country,” BPMB President/Group Chief Executive Officer Arshad Mohamed Ismail stated in his speech. “We are very proud of Sabah Ports’ success and we are indeed honoured to be a part of their journey. This jetty extension project will contribute in bringing many positive changes to the port area and to the state itself.” The Bank was mandated to be a catalyst for national development and to serve the unserved and underserved. Bank Pembangunan has grown and contributed towards national development through the financing of key infrastructure projects, and it will continue the effort. Sabah Ports Managing Director, Madam Ng Kiat Min in her speech said, “We are looking forward to undertaking a more significant role in promoting the oil and gas activities including the L&G business as well as the maritime services in the State.” She also thanked Bank Pembangunan for facilitating the issuance of the facility as investing in infrastructure, machineries and technologies is vital in their business. In addition to the Maritime Fund 2.0, BPMB also offers financing at subsidised rates under its other funds such as the Industry Digitalisation Transformation Fund, Sustainable Development Financing Fund, Public Transport Fund and Tourism Infrastructure Fund. About Bank Pembangunan Bank Pembangunan Malaysia Berhad (BPMB) was incorporated on 28 November 1973 with a role in the development of the Malaysian economy by assisting entrepreneurs involved in small and medium-sized industries through the provision of various financing facilities, training and advisory services, particularly to the Bumiputera entrepreneurs. Today, BPMB is mandated to provide medium to long-term financing to the strategic sectors of the economy. Through its wholly-owned subsidiary Pembangunan Leasing Corporation Sdn. Bhd. (PLC), BPMB also provides financing to small and medium-sized businesses including those involved in manufacturing, construction, supply, transportation, agriculture, hospitality and information technology. Owned by Minister of Finance Incorporated, BPMB has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002. With a combined asset value of about RM24.7 billion (as at 31 December 2018), the BPMB Group is well-positioned to meet the financing and business development needs of Malaysian businesses in the priority sectors. For more information, please contact: |
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