Maybank Islamic Provides MYR 700 Million Five-Year Islamic Credit Facility to Sapura Energy
March 01, 2021
Email Maybank Islamic has signed an MYR 700 million Shariah-compliant credit facility with Sapura Energy in Malaysia, an integrated oil and gas services and solutions provider. According to a statement filed with the Bourse, the new funding facility has a tenure of up to five years and comprises a Murabahah revolving credit facility as well as invoice-financing facilities.
Why it matters?
According to the statement, the new facility is set to boost the financial strength of Sapura Energy group of companies, allowing the Group to undertake existing projects a well as execute future contracts on a global scale. With the gradual recovery in the energy sector, the funds will be used to finance working capital requirements.
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