BUSINESS

SMBCMY GRANTS JPY900 MILLION ECO-LOAN FACILITY TO ISF

16/10/2019 01:06 PM

KUALA LUMPUR, Oct 16  -- Sumitomo Mitsui Banking Corporation Malaysia Bhd (SMBCMY) has granted a JPY900 million Environment Assessment Loan (eco-loan) facility to Intercontinental Specialty Fats Sdn Bhd (ISF). (JPY100 = RM3.86)

ISF is a manufacturer of premium grade specialty fats & oils with strong focus in the chocolate and chocolate confectionery segments, according to a statement.

Eco-loans are offered to corporations that have incorporated sustainable practices into its eco-management framework, whereby successful corporations will be given a rating after assessment by an external auditor.

ISF which obtained a Gold+ rating proactively implements environmental and sustainable initiatives based on company-wide environmental management and has basic understanding of environmental and sustainable issues in relation to its business.

SMBCMY president and chief executive officer, Tetsuya Kainaka said: “The Malaysian Government has been encouraging companies to incorporate sustainable practices into their respective eco-management framework. SMBCMY supports this effort by offering eco-loans to corporations that have made the leap to become eco-friendly.

“In Malaysia, awareness on eco-loans is currently prevalent amongst Japanese companies compared to Malaysian companies. Therefore, we will work closely with the Malaysian Government to create more awareness on eco-loans amongst the latter.”

SMBCMY offered its first eco-loan in 2012 and to date, approximately RM78 million in facilities have been offered to Japanese companies operating in Malaysia.

-- BERNAMA

 


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