Shariah-compliant financing of Weststar Aviation Services Sdn. Bhd.
Advised a syndicate of financiers in relation to Shariah-complaint facilities of RM4.86 billion based on the Shariah principle of Murabahah (via a Tawarruq arrangement) (“Facilities”) made available to Weststar Aviation Services Sdn. Bhd. (“Customer”), a Malaysian company involved in the aviation industry and one of the largest offshore helicopter transportation service providers in South-east Asia.
The proceeds of the Facilities are to be utilised by the Customer to part finance the acquisition of helicopters to be leased to various governmental agencies pursuant to a long term concession agreement entered into with the Government of Malaysia.
Advising a syndicate of financiers were Partners Syed Rashid bin Rahim Alsree and Vivien Yeow.