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UOB MALAYSIA, SEDCE SIGN MOU TO SUPPORT NEW ENERGY DEVELOPMENT IN SARAWAK

08/06/2024 05:54 PM

KUCHING, June 7 (Bernama) -- UOB Malaysia and SEDC Energy Sdn Bhd (SEDCE), a subsidiary of Sarawak Economic Development Corporation (SEDC), has signed a memorandum of understanding (MoU) to strengthen their collaboration in supporting businesses in Sarawak, particularly in its new energy sector.

The MoU will see UOB Malaysia empowering SEDCE's supply chain ecosystem of suppliers, vendors and contractors with greater access to financing.

“Through the (UOB Malaysia) bank's Financial Supply Chain Management (FSCM) Programme, these local enterprises will be able to access a suite of banking services to grow their businesses,” UOB Malaysia and SEDCE said in a joint statement today.

UOB Malaysia would leverage its comprehensive sustainable financial framework to support SEDCE's green transition projects, signifying a joint commitment to sustainability that goes beyond financing, while collaborating with SEDCE and other relevant state agencies to enable businesses to transition towards low carbon and sustainable practices in Sarawak.

Sarawak Premier Tan Sri Abang Johari Tun Openg was present to witness the exchange of MoU documents between SEDCE chief executive officer (CEO) Robert Hardin and UOB Malaysia CEO Ng Wei Wei.

Hardin said the partnership with UOB Malaysia solidified SEDCE's stand as one of the hydrogen players in the region, supporting Sarawak's clean energy initiatives.

“We are proud to be moving forward as one in this new business, which will be an investment for a cleaner future,” he said.

Meanwhile, Ng said the MoU represents the beginning of a significant collaboration between the two entities to support Sarawak's economic development and green agenda.

“Our comprehensive financing solution will not only assist SEDCE in implementing green transition projects but also extend critical financial resources to its entire supply chain, helping local businesses to grow and enhance their competitiveness,” she added.

-- BERNAMA

 

 


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