Hengyi Industries forge new USD263 million finance agreement with BIBD, Baiduri Bank and TAIB

The Empire Brunei, 3 August 2022 – Hengyi Industries Sdn Bhd (Hengyi Industries) signed an Islamic Syndicated Term Financing Agreement totalling USD263 million with Bank Islam Brunei Darussalam (BIBD), Baiduri Bank and Perbadanan Tabung Amanah Islam Brunei (TAIB), marking the start of a new collaboration between Hengyi Industries and the local financial institutions.

Present as the Guests of Honour were Mr. Chen Lian Cai, Chief Executive Officer (CEO) of Hengyi Industries; Yang Mulia Tuan Junaidi Masri, BIBD Board of Director; Yang Mulia Dayang Hajah Noraini binti Haji Sulaiman, Deputy Managing Director of BIBD; Mr. Ti Eng Hui, CEO of Baiduri Bank; and Yang Mulia Awang Edzwan Zukri bin Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Awang Haji Adanan, Acting Managing Director (AMD) of TAIB.

The event commenced with the recital of Surah Al-Fatihah and Doa Selamat, followed by opening remarks from Mr. Chen Lian Cai and Yang Mulia Dayang Hajah Noraini binti Haji Sulaiman. During the signing of the Financing Agreement, the CEO of Hengyi Industries signed on behalf of the company while the Deputy Managing Director of BIBD, CEO of Baiduri Bank, and AMD of TAIB signed on behalf of the respective banks. The ceremony concluded with a group photo session and a presentation of token of appreciation from Hengyi Industries to BIBD, Baiduri Bank and TAIB.

The Financing Agreement symbolises the strong commitment and cooperation provided by these financial institutions to support Foreign Direct Investments (FDI) in Brunei Darussalam. This is in line with the Titah by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan
and Yang Di-Pertuan of Brunei Darussalam during His Majesty’s 76th birthday, where His Majesty calls to focus on the economic development in the nation towards achieving the goals of Wawasan Brunei 2035.

The agreement also aligns with Hengyi Industries’ aspiration to become the leading petrochemical plant in the region, allowing the company to further develop and contribute towards Brunei Darussalam’s downstream sector and long-term economic growth.

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