Australia's export credit agency, EFIC, has provided a Bt300 million export finance guarantee to DBS Thai Danu Bank to support Australian operator Oceanis Holdings in its project to build the Bt1 billion Siam Ocean World Aquarium in Bangkok.
The deal is a sign of EFIC's increased involvement in Asian projects being undertaken by Australian companies. EFIC provides export finance and insurance for the projects.
Craig Scullin, director of EFIC, says the agency was keen to work with DBS Thai Danu Bank. Working with them enabled the finance to be provided in Thai baht, matching the project's revenue stream and thereby eliminating the foreign currency risk.