AmBank extends RM450mil financing facility for development of Andaman Island, Penang

From left: Datuk Tee Eng Ho, Executive Chairman of E&O; Kok Tuck Cheong, Managing Director of E&O; Christopher Yap, Managing Director of Business Banking, AmBank Group; and Datuk Sulaiman Mohd Tahir, Group Chief Executive Officer of AmBank Group

KUALA LUMPUR: AmBank Group has granted a RM450mil financing facility to Tanjung Pinang Development (TPD), a wholly-owned subsidiary of Eastern & Oriental Bhd (E&O) to facilitate the sustainable development project in Andaman Island, Penang.

In a joint statement, the bank said it is on track with its financing volume with a total disbursement of RM1.3bil following its support in key projects such as Andaman Island.