Latest news with #MBSBBankBhd
New Straits Times
16-06-2025
- Business
- New Straits Times
MBSB Bank extends RM180mil financing to MAG for halal aquaculture expansion
KUALA LUMPUR: MBSB Bank Bhd has approved Islamic financing facilities totalling RM180 million for MAG Holdings Bhd to strengthen its operations across the halal aquaculture value chain. 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.
The Star
20-05-2025
- Business
- The Star
MBSB allocates RM1bil financing to support Malaysia's aerospace sector's growth
KUALA LUMPUR: MBSB Bhd has announced a RM1 billion financing facility to accelerate the growth of Malaysia's aerospace sector. The facility will support the national vision outlined in the Malaysia Aerospace Industry Blueprint 2030 (MAIB 2030), which aims to position the country as a leading aerospace hub in Asia, the group said in a statement today. It said the funding, which is made available through MBSB Bank Bhd and MIDF's development finance facility, is tailored for original equipment manufacturer (OEM) suppliers, as well as Tier 1 and Tier 2 manufacturers. The facility also targets maintenance, repair, and operations (MRO) providers and aerospace companies investing in expansion, automation, engineering, research and development, and talent development, said the bank. Group chief executive officer (CEO) Rafe Haneef said aerospace is not only a high-tech (technology) sector but also a high-impact one. "As Malaysia cements its role in the global supply chain and supplies to major OEMs, the returns to our economy are tangible, from skilled job creation to export value. "Our RM1 billion facility is designed to scale that impact by backing players with the ambition to lead in manufacturing, design and innovation. We are here to fund the future of aerospace, which is precisely where Malaysia can lead,' he said. Meanwhile, National Aerospace Industry Corporation Malaysia (Naico) CEO Shamsul Kamar Abu Samah said Malaysia's aerospace industry reached RM25.1 billion in revenue in 2024, driven by strong growth in MRO and manufacturing. He added that MBSB's RM1 billion facility is a timely boost to this momentum, directly supporting Naico Malaysia's mandate under MAIB 2030 and aligning with the Ministry of Investment, Trade and Industry's New Industrial Master Plan 2030. - Bernama
