AmBank grants RM300mil financing facilities to Uzma

KUALA LUMPUR: AmBank Group has granted RM300mil financing facilities to Uzma Bhd’s wholly owned subsidiary, Uzma Engineering Sdn Bhd (UESB).

In a joint statement, it said the purpose of the financing is to support key contracts awarded by PETRONAS Carigali Sdn Bhd (PCSB) which is the oil and gas exploration and production subsidiary of Petroliam Nasional Bhd (PETRONAS).

Uzma stands as a key beneficiary of PETRONAS Activity Outlook 2024-26 report. With anticipated increased upstream activities by PETRONAS, the outlook remains positive for upstream service providers like Uzma.

Uzma has positioned itself as a competitive solutions provider, leveraging ongoing energy transition efforts to drive sustainable growth.

“We are very pleased to be supporting Uzma Group, a key service provider to PCSB and PETRONAS in their climate change transition towards generating sustainable energy which strategically aligns with the National Energy Transition Roadmap.

“This strategic collaboration is aimed at supporting essential operating expenditures for contracts that not only drive efficiency and innovation in our national oil and gas sector but also align with our shared vision for a more sustainable future,” AmBank group chief executive officer Jamie Ling said.

Meanwhile, Uzma group chief executive officer Datuk Kamarul Redzuan Muhamed said this financing agreement underscores AmBank’s confidence in Uzma’s capabilities and its strategic position in the industry.

“With this financing in place, we are poised to deliver on our promises, driving sustainable solutions with low carbon footprint and contributing to the nation’s energy security.”