KUALA LUMPUR: Weststar Group's aviation arm Weststar Aviation Services Sdn Bhd has inked a RM2 billion financing deal with AMMB Holdings Bhd
(AmBank Group) to accelerate its expansion.
Weststar Aviation Services executive director Syed Muhammad Azni Syed Azman said the financing is part of a syndicated financing facility to support Weststar's fleet expansion, strengthen working capital, and facilitate the management of foreign exchange requirements.
He said that under this partnership, it will continue to expand its helicopter fleet, strengthen its operations and support industries that are critical to the country.
"Our helicopters support offshore oil and gas, defence, emergency response, and many other sectors that keep Malaysia moving.
"So this is not only about growing a business. It is about strengthening our ability to serve the country," he said during the signing ceremony of Ambank Group and Weststar Aviation Services for the financing facility today.
Hence, Muhammad Azni said that with the secured financing, the company aimed to expand its fleet from 32 to 64 aircraft within two years.
Meanwhile, AmBank managing director (wholesale banking) Datuk Jamzidi Khalid said the RM2 billion financing marks the next chapter in Weststar's journey, enabling it to accelerate fleet expansion, enhance operational capabilities, and scale its presence both regionally and globally.
"We are proud to play a role as a trusted financial partner in this transformation. Through AmBank Islamic Bhd and AmInvestment Bank Bhd, we bring together strong structuring capabilities and expertise to deliver financial solutions.
"More importantly, this mandate opens the door for deeper collaboration in the future from potential super issuances and initial public offering opportunities as Weststar continues to expand its global partnerships," he said.
The financing facility documents were signed by Weststar Group chief financial officer Datuk Mohd Wazeer Nawawi, AmBank head of wholesale banking coverage, large corporate 5 Datuk William Koh and AmBank head of debt markets Yeoh Teik Leng.
AmBank Group has built a strong strategic partnership with Weststar over the past 15 years, a period marked by significant growth and transformation for both organisations.
AmInvestment Bank is the lead coordinator and one of the joint mandated lead arrangers, while AmBank Islamic is one of the financiers.
In such capacities, AmInvestment Bank was instrumental in coordinating the syndicated financing, structuring the facility, and aligning participating financial institutions to meet Weststar Aviation Services' funding requirements. - Bernama
