OCBC Bank managing director & head of wholesale banking Jeffrey Teoh (left) and managing director of emerging business programme management Rachel Teoh (right) unveiled how the SMEEA certificate will look at the OCBC booth during the recent IGEM 2024.
KUALA LUMPUR: OCBC Bank (Malaysia) Bhd (OCBC Bank) is introducing the innovative SME Energy Efficiency Assessment (SMEEA) tool to Malaysian SMEs, allowing them to evaluate their property's energy usage as part of their journey towards obtaining a green loan.
In a statement, OCBC Bank said the tool, developed by the Building and Construction Authority of Singapore (BCA), is now used in several markets where the OCBC Group operates. It makes the transition to sustainability simpler with easier access to green loans.
OCBC Bank managing director and head of emerging business Chan Kok Leong said property owners can access the tool via BCA’s Super Low Energy Building (SLEB) Smart Hub to assess how energy-efficient their property operations are.
“SMEs that use the tool to demonstrate their property’s energy efficiency levels and achieve a certain threshold are eligible to obtain a green loan from OCBC Bank. It is free, fast and user-friendly, with no consultants needed for the assessment.
“A key benefit of using SMEEA is that the SME receives a report identifying additional measures that can be implemented to lower the energy consumption of their property. The SMEs will also receive a certificate for their property instantly,” he said.
Chan said that with the SMEEA, SMEs can quickly understand their current position in the sustainability journey and access the solutions they need to start a sustainability plan.
“We are delighted to share that Yongyang Sdn Bhd is the first of our customers to avail themselves to this tool, and their feedback tells the story,” he added.
Yongyang director Regine Choo said OCBC Bank was instrumental in supporting their sustainability efforts by providing tailored financing solutions that made it possible for them to scale their projects.
“OCBC Bank’s expertise in green financing and willingness to start where the customer is – rather than where they hope we are – has helped us manage costs effectively and invest wisely in new technologies,” she said.
