EXIM BANK MALAYSIA, PERTAMA FERROALLOYS SEAL US$20 MLN FINANCING AGREEMENT

KUCHING, April 16 (Bernama) -- EXIM Bank Malaysia and Pertama Ferroalloys Sdn Bhd have sealed a US$20 million (US$1=RM4.41) supply financing agreement at the EXPO 2025 Osaka in Japan.

Pertama Ferroalloys operates Malaysia’s first manganese alloys and ferrosilicon smelting plant at the Samalaju Industrial Park in Bintulu, Sarawak.

“This strategic agreement is a notable achievement for Samalaju's foreign investors and is anticipated to contribute significantly to Malaysia's overall economic expansion,” they said in a joint statement today.

Pertama Ferroalloys Sdn Bhd chairman Hirotaka Suzuki and EXIM Bank Malaysia president and chief executive officer Nurbayu Kasim Chang inked the agreement at the Malaysia Pavilion on Monday.

The signing ceremony was witnessed by Ministry of Investment, Trade and Industry Malaysia secretary general Datuk Hairil Yahri Yaacob and Pertama Ferroalloys director and general manager Yuki Nakamura.

Suzuki said the significant investment will empower Pertama Ferroalloys to revolutionise its production processes, paving the way for vital infrastructure development, a surge in capital flow within Sarawak, and the creation of meaningful employment opportunities for Malaysians, especially the people of Sarawak.

He said this directly supports the goals outlined in Sarawak's Post COVID-19 Development Strategy (PCDS) 2030.

Meanwhile, Nurbayu said the supplier financing facility represents a decisive stride towards fortifying trade relationships and significantly expanding Malaysia’s global economic footprint.

“At EXIM Bank, we are immensely proud to stand alongside Pertama Ferroalloys, supporting its drive to optimise production and enhance their operational excellence.

“This collaboration vividly demonstrates EXIM Bank's unwavering commitment to fuelling sustainable trade growth and reinforcing Malaysia's pivotal role in the interconnected global economy,” she added.

-- BERNAMA