AmBank Group has provided RM2 billion in financial aid to Weststar Aviation Services Sdn Bhd, with the aim of facilitating the growth of its helicopter fleet.
This initiative will bolster Malaysia’s aviation transportation system and assist vital sectors such as oil and gas, defence and emergency services.
The financing, provided through AmBank Group via AmBank Islamic Bhd, forms part of a syndicated financing facility that will also be used to strengthen Weststar’s working capital and manage its foreign exchange requirements.
According to the press release, the expanded fleet is expected to support offshore transportation services for Malaysia’s energy sector, while also boosting Weststar’s role in defence and emergency response services.
AmInvestment Bank Bhd is acting as the lead coordinator and one of the joint mandated lead arrangers for the financing exercise, with the bank saying the deal reflects its structuring and capital markets capabilities in handling complex financing arrangements.
Group Chief Executive Officer Jamie Ling said, “We are pleased to support Weststar in scaling its operations and reinforcing its global footprint. As the company continues to lead the way in aviation innovation and reliability, its expanded capabilities will contribute to supporting commercial oil & gas operations vital to the nation’s energy security and also further enhance Malaysia’s defence and emergency response readiness, which is another service track offered by Weststar to the Malaysian Government.”
Meanwhile, Group Managing Director Tan Sri Dr Syed Azman Syed Ibrahim said, “Weststar’s strength lies in our ability to innovate, diversify and remain agile in an increasingly complex global landscape.”
He added that the collaboration would accelerate fleet expansion and strengthen the company’s domestic and international operational capabilities.
