AmBank funds Worldwide Stainless' RM1.06bil acquisition of Bahru Stainless

AmBank Group managing director, business banking, Christopher Yap, AmBank head of commercial banking 2, business banking, Patrick Chin, Bahru Stainless Sdn Bhd shareholder Ta Wee Dher and CEO of Bahru Stainless, Worldwide Stainless and YK Group of Companies Danny Tan Wei Beoh.

KUALA LUMPUR: AmBank Group has granted financing facilities to Worldwide Stainless Sdn Bhd, an affiliate of Yankong Group, for the acquisition of Bahru Stainless Sdn Bhd from Spain’s Acerinox S.A, for RM1.06bil.

In a statement, the bank said the acquisition was completed in November 2024, with AmBank financing 80% of the deal between Worldwide Stainless Sdn Bhd and Acerinox, S.A.