KUALA LUMPUR: AmBank (M) Bhd plans to expand its green financing facility and aims to reach a target of RM4 billion this year, double the amount provided in 2022.
According to group chief executive officer Datuk Sulaiman Mohd Tahir, the financing facility covers various sectors, including real estate, residential projects, electric vehicles (EVs), and warehouses.
“This low carbon transition finance is relevant to businesses and manufacturers who are looking to invest in machinery and equipment that reduce emissions,” Sulaiman told reporters. “If we can achieve our goal to double it within this year, it would be very beneficial for us.”
He made these comments at the exchange of documents ceremony for a RM130 million green financing with Persada Mentari Sdn Bhd (PMSB). The green financing facility was granted to PMSB, the developer for the Andaman Island project, which recently obtained the provisional GreenRE Platinum Certification for sustainable development.
PMSB is 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).
AmBank believes that its partnership with PMSB will make a real difference not only in terms of positive environmental impact but also in creating a brighter future for generations to come, said Sulaiman.
“Through this collaboration, we can further demonstrate our commitment to promoting and optimizing sustainable financing. We are proud to be part of the growing movement with PMSB in their initiatives towards a sustainable and resilient economy,” he added.
In response, E&O executive chairman Datuk Tee Eng Ho stated that the company aims to integrate sustainability into its business practices by embracing green development and adopting sustainable building features.
“The green financing facility offered by AmBank reflects our dedication to sustainable development and our commitment to green building technology initiatives. We are confident that Arica will be completed by the end of 2026,” Tee said.
Arica is E&O’s second serviced residence project, following the success of their first residential development, The Meg. The project is designed to meet Green Building Certification standards and has already obtained 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
Credit: The Star : Business Feed
