Weststar, MBSB In RM4.8 Bln Collaboration To Drive Aviation Expansion

SUBANG, Oct 3 (Bernama) -- The Weststar Group and MBSB Bank Bhd (MBSB) have formalised a RM4.8 billion syndicated Islamic financing facility, with MBSB committing RM1.3 billion to drive Weststar’s aviation expansion.

The memorandum of understanding (MoU), signed here today, paves the way for financing solutions, investment ventures and innovative financial structures to support Weststar’s diversified growth and cements MBSB’s role as a financial partner.

The syndicated financing facility was jointly arranged by MBSB Investment Bank Bhd (MBSB IB) with the backing of four banks with MBSB IB as the joint lead arranger.

Weststar Group managing director Tan Sri Dr Syed Azman Syed Ibrahim said the group’s strength lies in its ability to innovate, diversify and adapt to global economic demands.

“While aviation remains our core, we have expanded into multiple industries while maintaining our position as a regional leader in helicopter services. This MoU with MBSB provides a strong framework to unlock new opportunities supported by innovative financial solutions critical for long-term growth,” he said at the signing ceremony.

MBSB chairman Datuk Wan Kamaruzaman Wan Ahmad said aerospace and aviation are growth multipliers linking Malaysia to global supply chains, energy corridors and future industries.

“By financing Weststar’s expansion, MBSB is investing in Malaysia’s competitiveness and positioning the country to lead in sectors that matter most for tomorrow’s economy,” he added.

Weststar’s business interests span aviation, automotive, defence, construction, property, insurance, information and communication technology, food and beverage, and renewable energy.

-- BERNAMA