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SME Bank Offers Special Financing Package To Support Pan Borneo Sarawak Highway Project

KUCHING : 7 February 2017

KUCHING : 7 February 2017 – SME Bank has introduced a special financing package exclusively for G1 to G7 contractors or vendors who are awarded the Borneo Highway PDP Sdn. Bhd.  and LBU Sdn. Bhd. contracts to ensure their financial needs are secured and able to deliver the projects according to the predetermined schedule.

Among the packages offered to support the Pan Borneo Sarawak Highway Project are the Contract Financing and i-REACH or Rolling Expenditure Advance Cash Scheme. As an added incentive, SME Bank provides an early disbursement of 15% from the total approved financing to ensure the project is executed as early as possible.

Datuk Mohd Radzif Mohd Yunus, SME Bank Group Managing Director during the SME Bank Sarawak Pan Borneo Market Outreach Program said, “The program that we are having today is very special because it focuses on providing financing assistance directly to the contractors or vendors who are awarded with the Pan Borneo Sarawak Highway Project.”

Datuk Mohd Radzif added, “This program is also a part of SME Bank’s nationwide outreach sessions which started in January and were held at two locations in Kuala Lumpur and Batu Pahat, Johor. The outreach sessions will continue nationwide.”

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 accepted as a member of The Montreal Group or TMG.

Based in Canada, TMG is an exclusive global forum for state-owned development banks focused on assisting micro, small and medium-sized enterprises. 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.

The SME Bank Sarawak Pan Borneo Program was officiated by YB. Dato’ Sri Haji Fadillah Haji Yusof, Ministry of Works and also the Member of Parliament for Petrajaya.