Sarawak Energy Expands Support For Vendors Through PUNB, UOB Financial Tie-ups
KUCHING, Nov 20 (Bernama) -- Sarawak Energy Bhd (SEB) has expanded its support for local vendors through new financial collaborations with Perbadanan Usahawan Nasional Berhad (PUNB) and United Overseas Bank (UOB) Malaysia, aiming to enhance vendor capability and strengthen the resilience of its supply chain.
SEB said the collaborations were formalised through two memorandums of understanding (MOUs) signed at Menara Sarawak Energy, here on Nov 12. “The partnerships will enable vendors to secure financing for working capital, equipment procurement, and business expansion, ensuring continuity in project delivery across SEB’s operations,” it said in a statement.
Its group chief executive officer, Datuk Sharbini Suhaili, said the initiative reflects the corporation’s long-term commitment to developing a robust and inclusive vendor ecosystem. He said SEB’s approach to sustainable vendor development is built on strong partnerships that enable local businesses to grow alongside the state-owned company.
“Collaborating with financial institutions and development agencies such as PUNB and UOB allows us to help local vendors build capacity, access funding, and strengthen delivery performance. This reflects our commitment to Sustainable Development Goal 17: Partnerships for the Goals and to advancing a resilient, inclusive supply chain that supports Sarawak’s development,” he said.
The statement said SEB’s Vendor Development Programme (VDP) focuses on enhancing governance, strengthening technical competencies, and establishing clear engagement pathways for its network of suppliers.
It said complementing the initiative is the Vendor Financing Programme, developed in partnership with local banking institutions to improve access to financial support.
According to the company, local vendor participation grew by more than 70 per cent in 2024 compared to the previous year, with most contracts awarded to Sarawak-based businesses.
“This reflects the company’s ongoing efforts to strengthen local supplier capabilities and support inclusive growth within Sarawak’s business community. Over the years, SEB has also established similar arrangements with several financial institutions, including Bank Islam, RHB Bank, SME Bank, and Ikhtiar Factoring,” Sharbini noted.
-- BERNAMA