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SILK HOLDINGS SECURES RM220 MILLION FUNDING.

BERNAMA The Malaysian National News Agency

| August 03, 2010 | COPYRIGHT 1999 Bernama - Malaysian National Agency. (Hide copyright information)Copyright

from BERNAMA, The Malaysian National News Agency KUALA LUMPUR, Aug 3 (Bernama) -- Silk Holdings Bhd has secured a RM220 million Islamic Bai' Istisna' facility with Bank Pembangunan Malaysia Bhd.

The company's Executive Chairman, Datuk Mohd Azlan bin Hashim, said the funding reflected the significant potential the company's oil and gas division had.

It will be utilised to finance the construction of two Anchor Handling Tug Supply (AHTS) vessels, which will be equipped with the latest specifications, he said in a statement here today.

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

JM Global 3 (Labuan) Plc and JM Global 4 (Labuan) …

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