ANNOUNCEMENT 15 Mar 2016

In March 2016, the government of Malaysia announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Export-Import Bank of Malaysia Berhad, press release of 15 March 2016, EXIM BANK FINANCED AN OFFSHORE SUBSEA CONSTRUCTION VESSEL (OSCV) WORTH USD84 MILLION: http://www.exim.com.my/index.php/en/media-centre/press-release/item/exim-bank-financed-an-offshore-subsea-construction-vessel-oscv-worth-usd84-million

Export-Import Bank of Malaysia Berhad, OVERSEAS PROJECT / CONTRACT / INVESTMENT FINANCING: http://www.exim.com.my/index.php/en/conventional-banking/conventional-banking-cross-border-financing/overseas-project-contract-investment-financing

Daya Materials Berhad, About Daya Materials Berhad: http://dayagroup.com.my/


Inception date: 15 Mar 2016 | Removal date: open ended
Still in force

State loan

On 15 March 2016, Export-Import Bank of Malaysia Berhad (EXIM Bank) announced signing a USD 84 million Facility Agreement under its Overseas Investment Financing with Malaysian Daya Materials Berhad. Such loans are offered on favourable terms and solely eligible for Malaysian- or Malaysian controlled companies.
 
The loan finances the company's acquisition of a specifically designed Offshore Subsea Construction Vessel. This purchase will reduce the Malaysian company's operating cost by approximately 40%. Hereto the loan finances the company's business in the area of oil and gas services including offshore pipe-laying and cable-laying, automated welding, subsea installation, marine services etc.
 
In this context the Bank stated: "EXIM Bank is committed to continue its drive to support Malaysian exporters and investors to expand their international businesses by providing both Conventional and Islamic banking facilities and credit insurance coverage for the extension and growth of Malaysia's export volume and markets."

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AFFECTED PRODUCTS

 
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