KUALA LUMPUR, Tuesday (15 March 2016) – Export-Import Bank of Malaysia Berhad (EXIM Bank) signed a USD84 million Facility Agreement under its Overseas Investment Financing-i Facility with Daya Materials Berhad to finance an Offshore Subsea Construction Vessel (OSCV) named Siem Daya 1 (SD1).
The SD1 was designed and equipped with dynamic positioning technology and used for subsea operational duties including construction, installation, inspection, repairs and maintenance works. With this acquisition, it would enable Daya Materials Berhad to own and operate the vessel which will reduce its daily operating cost by 40% approximately.
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.
While the Bank recognizes that 2016 will be a more challenging year due to the continued global economic uncertainties, EXIM Bank continues to provide support to its existing and potential Malaysians who are willing to take the challenge and participate in the still-significant global trade and investments.