SME BANK OFFERS FINANCING PACKAGE TO SUPPORT
PAN BORNEO SABAH HIGHWAY PROJECT
KOTA KINABALU, SABAH: Feb 28 – Vendors and contractors of class G1 to G7 who are awarded contracts by the Borneo Highway PDP Sdn. Bhd. will get a special financing package from SME Bank to ensure their financial needs are secured and able to deliver the project according to the predetermined schedule.
Among the packages offered to support the Pan Borneo Sabah Highway Project are the Contract Financing, i-REACH or Rolling Expenditure Advance Cash Scheme and few other financing programmes. The financing package is special because it allows the contractors or vendors to start the project in advance through a 15% early disbursement from their overall financing amount.
SME Bank Group Managing Director Datuk Mohd Radzif Mohd Yunus during the SME Bank Sabah Pan Borneo Market Outreach Programme said, “The main objective for SME Bank to organize this programme today is to provide direct financing or capacity development to all the contractors or vendors who are involved with the Pan Borneo Sabah Highway Project.”
Datuk Mohd Radzif added, “This programme is also a part of SME Bank’s nationwide engagement sessions which was launched in January and were previously held at four locations in Kuala Lumpur, Batu Pahat, Kuching and Kota Bharu.”
In the effort to improve its customer service delivery, SME Bank has recently launched the “Book Your Banker” facility in its Mobile Application enabling entrepreneurs who are interested to apply for financing to register online, set the date of the appointment and choose the branch of their choice. In addition, SME Bank has also introduced an online screening gateway that functions as a screening process to determine the eligibility of the Pan Borneo Sabah contractors and vendors before the submission of their financing applications.
SME Bank’s commitment in assisting the SMEs to grow and remain competitive have been recognized internationally when the Bank became the first Development Finance Institution in Malaysia and ASEAN to be a member of The Montreal Group or TMG. As a member of TMG, SME Bank will have access to best practices on multiple areas such as governance, risk management, human capital development, delivery channels, product and service innovations, and other international standards for potential adoption. In addition, it is also an opportunity for the Bank to leverage on TMG’s forward looking research.
The SME Bank Sabah Pan Borneo Market Outreach Programme was officiated by YB. Datuk Seri Panglima Michael Asang, Assistant to the Sabah Minister of Finance cum ADUN for Labuk, Sabah.