MBSB Bank has formalised Islamic financing facilities worth RM1.3 billion for Cypark Resources Berhad, making the bank its principal banking partner and supporting Malaysia’s clean energy transition.
The financing package, which combines refinancing and working capital facilities, is aimed at strengthening Cypark’s capital structure, optimising cash flow and supporting growth.
As part of the agreement, Cypark will also place funds into MBSB Bank’s first Sustainable Term Deposit-i, which channels capital directly into environmentally and socially responsible projects.
Cypark, an integrated renewable energy and environmental solutions provider, is involved in solar, biogas and waste-to-energy projects, including Malaysia’s first SMART Waste-to-Energy facility.
With an installed renewable energy capacity of 400 megawatts, the company plays a role in the nation’s decarbonisation pathway.
The latest financing marks another step in its Cypark 2.0 transformation plan, which focuses on strengthening finances, enhancing operational delivery and expanding clean energy initiatives.
Through the facility, MBSB Bank will refinance Cypark’s established renewable energy assets in solar and waste-to-energy.
Dato’ Wan Kamaruzaman Wan Ahmad, Group Chairman of MBSB, said,
“This facility is a milestone in our own transformation as we align Islamic finance with national energy goals.
By matching capital to long-term renewable assets, we are also shaping Malaysia’s clean energy future.”
Tan Sri Abdul Wahid Omar, Chairman of Cypark Resources Berhad, said,
“The refinancing of our group-wide debt alleviates one of the group’s key financial exposures and positions us to deliver sustainable growth while optimizing returns to shareholders. We value MBSB Bank not only as a financier but as a strategic partner who shares our vision for a low-carbon economy for Malaysia.
Their confidence in our capabilities and commitment to the nation’s energy transition have been instrumental in achieving this milestone. We look forward to working closely with MBSB Bank to deliver robust solutions for firm renewable energy supply to the grid.”
