KUALA LUMPUR: Undersea cable solutions provider OMS Group has secured US$292.5 million (RM1.35 billion) worth of loans from a group of financial institutions to expand its fleet and build its expertise in subsea telecommunications.
The institutions involved include HSBC Bank, Affin Bank Bhd, Affin Hwang Investment Bank Bhd, BDO Capital & Investment Corporation, E-Sun Commercial Bank Ltd, and SinoPac Co Ltd, with KKR Capital Markets facilitating the deal.
According to OMS, the financing facilities will enhance the company's global capabilities and solidify its position as a key player in the subsea telecommunications industry.
The facilities is also expected to enable OMS to expand its fleet and continue building its expertise in subsea telecommunications, meeting the increasing global demand for robust and reliable underwater communications infrastructure.
OMS chairman Datuk Lim Soon Foo said the agreement marks a monumental step for the company as it continues to scale its operations globally.
"We are proud to work with such esteemed financial institutions, this will undoubtedly reinforce our position in the industry. It's a testament to our commitment to excellence and innovation in the subseatelecommunications industry," he said in a statement.
Meanwhile, chief executive officer Ronnie Lim said this deal not only enhances the company's capability to serve a global clientele but also positions Malaysia as a central hub in subsea digital infrastructure.
"We are excited about the opportunities this will bring, and we are dedicated to leveraging these resources to deliver cutting-edge solutions to our customers," he added.