Tuesday, August 3, 2010

SILK Holdings' Jasa Merin secures RM220m loan from Bank Pembangunan

KUALA LUMPUR: SILK Holdings Bhd's subsidiary has secured a RM220 million loan facility from Bank Pembangunan Malaysia Bhd to part finance the CONSTRUCTION [] of two anchor handling tug supply (AHTS) vessels.

SILK said on Tuesday, Aug 3 the Islamic Bai' Istisna' facility with Bank Pembangunan was signed by JM Global 3 (Labuan) Plc and JM Global 4 (Labuan) Plc.

The two vessels are'' expected to be ready and operational by end 2012.

JM Global 3 (Labuan) Plc and JM Global 4 (Labuan) Plc are ship operating companies jointly owned by Jasa Merin (51%), a member of the SILK Holdings Group and GMV-Jasa Sdn Bhd (49%), a unit of Global Maritime Ventures Bhd.

Global Maritime Ventures, a venture capital company, is part of the Bank Pembangunan Group.

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