From left: Eastern & Oriental Bhd executive chairman Datuk Tee Eng Ho, KWEST Sdn Bhd chairman Datuk Maznah Abdul Jalil, Persada Mentari Sdn Bhd director Michael Tan, AmBank Group managing director of business banking Christopher Yap and AmBank group chief executive officer Datuk Sulaiman Mohd Tahir.
KUALA LUMPUR: AmBank (M) Bhd targets to double its green financing facility for this year from RM2 billion in 2022.
Group chief executive officer Datuk Sulaiman Mohd Tahir said the financing facility included real estate, residential projects, electric vehicles (EV) and warehouse sectors.
"This low carbon transition finance is relevant to businesses and manufacturers who want to invest in machinery and equipment that reduce emissions retention.
"Hence, if we can double it within this year, it is something that is very good for us,” he told reporters after witnessing the official exchange of documents for RM130 million in green financing with Persada Mentari Sdn Bhd (PMSB).
The green financing facility was granted to PMSB, the developer for the Andaman Island project, which was recently awarded the provisional GreenRE Platinum Certification, to facilitate the development of Arica@Andaman Island and future projects on the island.
PMSB, a special purpose vehicle formed by Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern and Oriental Bhd
(E&O), and KWEST Sdn Bhd, a wholly-owned subsidiary of the Retirement Fund (Incorporated).
Sulaiman said the bank believed that through the partnership, they could make a real difference not only in making a positive impact on the environment but also creating a brighter future for generations to come.
"This effort will further demonstrate our commitment in promoting and optimising sustainable financing and we are proud to be part of the growing movement with PMSB in their initiatives towards a sustainable and resilient economy,” he said.
Meanwhile, E&O executive chairman Datuk Tee Eng Ho said the company aimed to instil the concept of sustainability in its business practices by fostering green development with the adoption of sustainable building features such as low carbon operation and transportation, energy and water efficiency and utilisation of sustainable building materials.
"The green financing facility offered by AmBank is a testament to our commitment towards sustainable developments as well as doing our part in embracing green building technology initiatives to achieve construction quality and environmental sustainability.
"This facility came at an opportune time and we are confident that Arica will be on track for completion by the end of 2026,” he said.
Arica is E&O’s second serviced residence project, which is developed after the success of the first residential development known as The Meg.
Designed to meet Green Building Certification standards, the development is in line with the company’s sustainability principles and has recently received the GreenRE Platinum Provisional Certification under the residential category from Malaysia’s Real Estate and Housing Developers Association (REHDA).
In addition to financing the project, AmBank will also provide a total limit of RM77 million worth of end financing for the residential units. - Bernama
