MBSB, MBSB Investment ink RM1.02bil loan deal with Ekovest

KUALA LUMPUR: MBSB Bank Bhd and MBSB Investment Bank Bhd (MBSB IB) have entered into a RM1.02 billion loan agreement with Ekovest Holdings Sdn Bhd. The loan is intended to support Ekovest's corporate activities and infrastructure and property development projects. Ekovest Holdings, wholly owned by Tan Sri Lim Kang Hoo and the executive chairman of Ekovest Bhd, is a client of MBSB Group.

This is the latest in a series of financial collaborations between the two firms. In 2021, MBSB IB played a role in launching Ekovest Bhd's sukuk program with a potential value of up to RM1.3 billion. Under the terms of the new agreement, MBSB Bank will serve as the primary lender, while MBSB IB will assume the roles of lead arranger, facility agent, and security agent.

MBSB Group CEO Rafe Haneef stated that the financing facility will bolster Tan Sri Lim Kang Hoo's growth objectives and facilitate the completion of essential infrastructure and development projects. He attributed this to the collective capabilities of MBSB Bank and MBSB IB. In a separate statement, Lim echoed Haneef's sentiment, noting that the loan will provide the financial foundation necessary for executing various corporate initiatives to bolster the financial standing of investee companies. He also highlighted its role in backing key infrastructure and property development undertakings.