KUALA LUMPUR (Oct 3): Financial services firm MBSB Bhd (KL:MBSB) has committed RM1.3 billion to support the expansion of Weststar Aviation Services Sdn Bhd (WASSB) — the aviation arm of The Weststar Group — through a landmark syndicated Islamic financing facility.
The funding will support helicopter acquisitions, working capital, corporate purposes, and foreign exchange (forex) forward contracts facility to manage forex exposure.
MBSB Investment Bank Bhd, the wholesale banking unit of MBSB, is acting as the joint-lead arranger for the syndicated Islamic financing facility.
In a statement, MBSB chairman Datuk Wan Kamaruzaman Wan Ahmad said aerospace and aviation are no longer niche, as they are growth multipliers that link Malaysia to global supply chains, energy corridors, and future industries.
“By financing Weststar’s expansion, MBSB is investing in Malaysia’s competitiveness, positioning the country to lead in sectors that matter most for tomorrow’s economy,” Wan Kamaruzaman said.
Weststar Group managing director Tan Sri Dr Syed Azman Syed Ibrahim said Weststar’s strength lies in its ability to innovate, diversify, and adapt to the changing demands of the global economy.
“While aviation remains our core, we have expanded into multiple industries while maintaining our position as a regional leader in helicopter services.
“This MOU (memorandum of understanding) with MBSB provides a strong strategic framework to unlock new opportunities, supported by innovative financial solutions that are critical to sustaining long-term growth,” Syed Azman added.
According to the statement, both companies had inked an MOU to unlock opportunities across financing solutions, investment ventures, and innovative financial structures designed to support Weststar’s growth trajectory across all industries, while cementing MBSB’s role as a trusted financial partner to Malaysia’s dynamic corporations.
Syed Azman further said by leveraging this partnership, Weststar Group aims to accelerate its expansion both locally and globally, enhance operational resilience, and continue contributing to Malaysia’s competitiveness on the regional stage.
Weststar is a diversified group that is involved in aviation, defence, property and construction, automotive, insurance, energy, as well as food and beverage businesses. – The Edge Malaysia