A Signing Ceremony in relation to EOGF and Syndicated Facilities between Affin Investment Bank Bhd, M-10 Builders Sdn Bhd, AFFINBANK Bhd and EXIM Bank Malaysia Bhd

KUALA LUMPUR: Affin Investment Bank Bhd has signed an agreement with M-IO Builders Sdn Bhd (MIOB) in relation to EXIM Overseas Guarantee Facility (EOGF) and Syndicated Facilities totalling RM72mil for the Dubai Metro contract.

In a statement, the bank said the facilities had two currencies and it comprised performance bonds, advance payment bonds, letter of credit and term-loan facility. 

It said MIOB had secured a 122.8million dirham sub-contract for the civil works and steel fabrication. The main contractor is JT Metro JV. 

Managing director Maimoonah Hussian said Affin Investment Bank had arranged the financing from Affin Bank Bhd and Export-Import Bank Malaysia Bhd (EXIM Bank).  

EXIM Bank’s participation in the facilities would be in the form of a standby letter of credit and also the EOGF, which was introduced by Bank Negara to facilitate Malaysian contractors undertaking contracts overseas. 

From left: Maimoonah Hussain, M-10 Builders Sdn Bhd chief executive officer Mohd Mydin Mohd Nordin and EXPORT-IMPORT Bank Malaysia Bhd MD and CEO Datuk Kamal Mohd Ali.

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