The lender is WG Data Hub Sdn Bhd, a wholly owned subsidiary of DayOne Data Centers Singapore Pte Ltd. It will use the loans to develop a data center that has received a gold certificate in Energy and Environmental Design (LEED).

Khairussaleh Ramli, President and Group CEO of Bank of Malaya, said: "This landmark transaction represents Bank of Malaya's largest Islamic financing commitment to the data center field. It highlights our unique position and global leadership in building and promoting Islamic finance."

Headquartered in Singapore, DayOne is a global digital infrastructure platform that continues to expand its business in front-tier and emerging markets, including Singapore, Johor, Batam, Greater Bangkok, Hong Kong and Tokyo. Its flagship data center park will be located in Nusajaya and Kempas Technology Park in the Rhodes-Singapore Special Administrative Region, and is expected to account for a majority of its ASEAN and Japanese data center planned capacity.

Maybank announced the underwriting of RM2.5 billion (approximately S$760 million) in financing to support a green data center project by Singaporean company DayOne in the Johor-Singapore Special Economic Zone (JS-SEZ).

Bank Malaya said in a statement on Wednesday (June 11) that it underwritten a third of the amount of syndicated loans for the data center project and accounted for the largest share.

This syndicated loan is the largest of the Islamic financing provided for data center projects in the Asia-Pacific region. It consists of a RM700 million onshore Islamic financing part and an equivalent offshore dollar traditional financing part, forming a five-year dual-currency green financing package with a total of RM15 billion.