Strong commitment towards FDIs in Brunei

Izah Azahari

Hengyi Industries Sdn Bhd (Hengyi Industries) signed an Islamic Syndicated Time period Financing Settlement totalling USD263 million with Financial institution Islam Brunei Darussalam (BIBD), Baiduri Financial institution and Perbadanan Tabung Amanah Islam Brunei (Perbadanan TAIB), marking the beginning of a brand new collaboration between Hengyi Industries and the native monetary establishments.

The signing ceremony was held at The Empire Resort Brunei yesterday.

Hengyi Industries Chief Government Officer (CEO) Chen Lian Cai, BIBD Board of Director Junaidi bin Haji Masri, BIBD Appearing Managing Director and CEO Hajah Noraini binti Haji Sulaiman, Baiduri Financial institution CEO Ti Eng Hui and Perbadanan TAIB Appearing Managing Director Edzwan Zukri bin Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Haji Adanan have been the visitors of honour.

The occasion commenced with the recitation of Surah Al-Fatihah and Doa Selamat, adopted by remarks from the Hengyi Industries CEO.

Chen highlighted 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’s titah throughout His Majesty’s 76th birthday calling for give attention to the financial improvement within the nation in direction of reaching the objectives of Brunei Imaginative and prescient 2035.

“The financing cooperation with BIBD, Baiduri Financial institution and Perbadanan TAIB is in keeping with the initiatives of His Majesty, and in addition symbolises the sturdy dedication and help by the native monetary establishments,” he mentioned.

He added that it additionally demonstrates Hengyi’s dedication and efforts in supporting the event of the native monetary sector.

“Hengyi will proceed to work in direction of our aspiration to change into the main petrochemical plant within the area,” Chen mentioned, noting the corporate’s honest hope that BIBD, Baiduri Financial institution and Perbadanan TAIB will proceed to help and assist Hengyi develop and be sustainable.

“Collectively, we will develop and contribute in direction of the Sultanate’s downstream sector, native employment and long-term financial development.”

“Regardless of the worldwide financial downturn brought on by the Covid-19 pandemic, Alhamdulillah the downstream sub-sector has continued to gas Brunei’s financial development. This displays the abundance of alternatives which can be current within the sub-sector for establishments like BIBD to play our half because the nation’s Accomplice in Progress and facilitate alternatives for our companions to upscale their operations and in the end assist to attain the nation’s financial diversification objectives in keeping with the Brunei Imaginative and prescient 2035,” mentioned BIBD’s Appearing Managing Director and CEO Hajah Noraini.

“We’re grateful to have established a long-term and wholesome working relationship with Hengyi Industries and BIBD, as a Accomplice in Progress, and proceed to strengthen this relationship with Hengyi as we share the identical philosophy in growing the human capital in Brunei with a robust sense of accountability in nationwide tasks of this scale and nature.”

As a Accomplice in Progress, BIBD will proceed to help Brunei’s financial diversification efforts whereas strengthening the nation’s place as a regional hub for financial exercise and commerce.

The occasion then noticed the signing of a financing settlement with the CEO of Hengyi Industries signing on behalf of the corporate, whereas the BIBD Appearing Managing Director and CEO, Baiduri Financial institution CEO and Perbadanan TAIB Appearing Managing Director signed on behalf of their respective banks.

The occasion concluded with a gaggle photograph session and a presentation of token of appreciation from Hengyi Industries to BIBD, Baiduri Financial institution and Perbadanan TAIB.

The settlement, signed together with two different native monetary establishments particularly Baiduri Financial institution and Perbadanan Tabung Amanah Islam Brunei (TAIB), reinforces BIBD’s long-standing working relationship with Hengyi Industries, and showcases BIBD’s capabilities to facilitate international direct investments (FDIs) and ship on giant Syariah-compliant transactions.

The settlement additionally highlights the significance of in-country liquidity mobilisation to additional help the nation’s financial actions.

Additionally current on the ceremony have been senior administration and officers from BIBD, Hengyi, Baiduri and Perbadanan TAIB.