SILKHLD

It has secured a RM220 million loan facility from Bank Pembangunan Malaysia Bhd to part finance the construction of two anchor handling tug supply (AHTS) vessels.

The Islamic Bai' Istisna' facility with Bank Pembangunan was signed by JM Global 3 (Labuan) Plc and JM Global 4 (Labuan) Plc.

The two vessels are expected to be ready and operational by end 2012.

JM Global 3 (Labuan) Plc and JM Global 4 (Labuan) Plc are ship operating companies jointly owned by Jasa Merin (51%), a member of the SILK Holdings Group and GMV-Jasa Sdn Bhd (49%), a unit of Global Maritime Ventures Bhd.

Global Maritime Ventures, a venture capital company, is part of the Bank Pembangunan Group.