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PETALING JAYA: Malaysia’s largest banking group, Malayan Banking Bhd (Maybank), has clarified that its exposure to the US$600mil (RM1.84bil) unsecured funding facility on which Vietnam Shipbuilding Industry Group (Vinashin) has recently defaulted is minimal and insignificant.
PETALING JAYA: It is unclear at this point how Malayan Banking Bhd (Maybank), which participated in state-owned Vietnam Shipbuilding Industry Group's (Vinashin) US$600mil eight-year funding facility three years ago, would be affected by the latter's failure to make the first loan repayment, which became due on Dec 20.
SYDNEY: Australia’s central bank has unexpectedly expanded its low-cost funding scheme for lenders as the economy looked set to post its worst contraction since the Great Depression due to the coronavirus pandemic.
SYDNEY: Westpac Banking Group has reopened Australia’s big banks bond-market taps for the first time in more than a year, with a US$2.75bil (RM11.4bil) deal that also marked their first use of a non-US dollar London Interbank Offered Rate (Libor) benchmark rate to price the debt.
Maybank Islamic is one of the four participating Islamic banks, which have been selected to participate in this programme, making early payments to the companies based on the government’s creditworthiness.
KUALA LUMPUR: Fajarbaru Builder Group Bhd, Beulah International and KHK Group, the developers behind luxury apartment project Paragon, have obtained funding facility from Malayan Banking Bhd (Maybank) amounting to about A$100mil (RM300mil).
PETALING JAYA: There may be a silver lining to the Vietnamese government's refusal to support troubled Vietnam Shipbuilding Industry Group (Vinashin), which has amassed debt of US$4.4bil and defaulted on an initial payment of US$60mil to a consortium of foreign creditors that funded the state-owned enterprise's US$600mil eight-year funding facility three years ago.
KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV) has announced that the first round of applications for the RM100mil relief funding facility for technology start-ups will take place from May 18 to 31.