MBSB Bank extends RM180mil financing to MAG for halal aquaculture expansion
The bank said the facilities, structured through term financing-i and trade line facilities-i, will support MAG's working capital and capital expenditure needs.
This will particularly help in scaling its cold chain logistics, farming and hatchery infrastructure, and halal seafood export capacity.
"We are proud to support MAG's next phase with Shariah-compliant, development-focused financing," MBSB Bank group chief commercial banking officer Che Nazari Che Azid said in a statement today.
"This partnership reflects our confidence in their business model and our commitment to sectors like aquaculture and halal food where food security, exports and sustainability intersect."
MAG executive chairman Stephen Ng said this facility comes at a pivotal time as the company expands production and strengthens its infrastructure.
"With MBSB Bank's support, we're better positioned to advance halal traceability and sustainable aquaculture and to lead with both purpose and resilience," said Ng.
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