OMS Group Signs $292.5M Agreement for Global Expansion

OMS Group Press Release
June 20, 2024

Kuala Lumpur, Malaysia – 20 June, 2024 – OMS Group, a leading provider of undersea cable solutions, is pleased to announce the signing of syndicated facilities valued at US$292.5M (“facilities”) with a consortium of prestigious financial institutions comprising HSBC, Affin Bank Berhad, Affin Hwang Investment Bank Berhad, BDO Capital & Investment Corporation, E-Sun Commercial Bank Ltd., and SinoPac Co. Ltd, with KKR Capital Markets facilitating this exercise. The facilities will enhance OMS Group’s global capabilities, solidifying its position as a key player in the subsea telecommunications industry.

The facilities will enable OMS Group to expand its fleet and continue building its expertise in subsea telecommunications, meeting the increasing global demand for robust and reliable underwater communications infrastructure.

Datuk Lim Soon Foo, Chairman of OMS Group, commented, “This agreement marks a monumental step for OMS Group as we continue to scale our operations globally. We are proud to work with such esteemed financial institutions, this will undoubtedly reinforce our position in the industry. It’s a testament to our commitment to excellence and innovation in the subsea telecommunications industry.”

Ronnie Lim, CEO of OMS Group, added, “The support we have received is crucial for our growth strategy. This deal not only enhances our capability to serve a global clientele but also positions Malaysia as a central hub in subsea digital infrastructure. We are excited about the opportunities this will bring, and we are dedicated to leveraging these resources to deliver cutting-edge solutions to our customers.”

Christina Cheah, Head of Global Banking, HSBC Malaysia said, “The deal recently executed in Singapore to support the growth of OMS Group's fleet of vessels represents a natural extension of a strong relationship that we already have with the client in Malaysia. Through the cross-border collaboration between our offices in Singapore and Malaysia, the transaction demonstrates how we can support clients with their expansion efforts by leveraging the strength of our international network and connecting them to greater opportunities.”

Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of Affin Bank Berhad said, “We are delighted to embark on this journey with OMS Group to support their expansion plans. The syndicated facilities underscore our dedication to fostering growth and innovation, aligning with our aspiration to become the Most Creative and Innovative Financial Company.”

OMS Group’s expansion is set to create numerous opportunities within the industry, fostering economic growth and technological advancement. The company remains committed to delivering high-quality subsea digital infrastructure solutions that meet the evolving needs of the global market.

Media Contacts:

Ellerique Shamsuddin
OMS Group
+603 5569 3881
[email protected]

Liz Asri
FGS Global
+65 9109 1527
[email protected]

About Optic Marine Group:

OMS Group is a global, neutral and integrated telecommunications infrastructure company with a wide range of services covering subsea telecommunications installation and maintenance, digital infrastructure ownership, and digital infrastructure engineering, procurement, maintenance, and construction under our interconnect managed services division. Our capabilities in submarine fiber-optic cable systems include installation and repair of deep and shallow water subsea fiber-optic cable systems, permitting in principle acquisitions, project management, direct shore ends, engineering, and subsea surveys. We have a strong track record in constructing and owning cable landing stations and terrestrial dark fiber in Southeast Asia.

About HSBC Malaysia:

HSBC's presence in Malaysia dates back to 1884 when the Hongkong and Shanghai Banking Corporation Limited established its first office in the country on the island of Penang, with the permission to issue currency notes. HSBC Bank Malaysia Berhad was locally incorporated in 1984 and is a wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, founding member of the HSBC Group. In 2007, HSBC Bank Malaysia was the first foreign bank to be awarded an Islamic banking subsidiary license in Malaysia, namely HSBC Amanah Malaysia Berhad. HSBC Malaysia offers a comprehensive range of banking and financial services including Islamic financial solutions. HSBC Malaysia has also led innovation in Malaysia by introducing Malaysia’s first ATM and Electronic Touch Banking in the early 1980s. Today, HSBC Malaysia has launched innovative solutions such as HSBCnet for secure banking for businesses, Trade Transaction Tracker, and Facial Recognition on supported mobile phones.

About AFFIN Group:

Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad, Affin Moneybrokers Sdn Bhd. Generali Insurance Malaysia Berhad and Generali Life Insurance Malaysia Berhad are affiliated companies of Affin Bank Berhad. AFFIN Group provides an array of financial products and services catering to individual, enterprise, commercial, and corporate clients. The focus market segments are categorized under essential business units such as Community Banking, Enterprise Banking, Corporate Banking, Treasury, and Investment Banking. For more information, please visit www.affingroup.com.

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