KUALA LUMPUR, 30 August – UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the region’s leading Asset Management and Infrastructure Solutions company has collaborated with HSBC Amanah Malaysia Berhad (“HSBC Amanah”) to develop a Syariah Compliant Supplier Financing Programme (“SFP”) that benefits UEM Edgenta’s suppliers and vendors. This is a landmark transaction as HSBC Amanah is launching the bank’s first Islamic supply chain facility in Asia.
The Edgenta Supplier Financing Programme aims to complement the Malaysian Government’s Bumiputera Vendor Development Programme to nurture SME suppliers to grow to larger companies and obtain hassle-free access to affordable financing without collateral. The SMEs and MSMEs can leverage on UEM Edgenta’s strong balance sheet and the Company's long-term relationship with HSBC Amanah to obtain their working capital financing and enjoy early financing settlements.
The Edgenta Supplier Financing Programme launch event took place on the 30th of August at UEM Edgenta’s Learning Centre and was graced by YB Tan Sri Noh Haji Omar, Minister of Entrepreneur Development and Cooperative.
“Our suppliers and vendors are a fundamental source of our day-to-day operations, this Supplier Financing Programme is a seamless method to accelerate vendors payment and ensure that they have the cash flow that they may need to carry out their contract obligation and deliver the goods and services on time,” said Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta in his keynote address during the launch event.
“As we continue to support the Government’s nation building initiatives and to better the lives of communities we operate in, we are grateful to be able to provide relief and support to assist SME an MSME vendors in maintaining a healthy cash flow and to ensure that they continue to contribute to the national economy, post pandemic. This financing method will help to provide the necessary cash flow and working capital for our partner vendors,” added Syahrunizam.
“The significant partnership between HSBC and UEM Edgenta will be crucial to empowering UEM Edgenta’s supply chain partners and providing them with the requisite cash flow needed to facilitate their growth. HSBC’s involvement on this initiative also reinforces our commitment in supporting the Malaysian government in their efforts to ensure that SMEs have access to financing for their operations”, said YB Dato’ Omar Siddiq, CEO, HSBC Malaysia.
Since this programme’s introduction back in May 2022, over 380 SME and MSME vendors have been offered to onboard this programme. Phase 2 will be implemented in October and we plan to reach out to a further 422 SME and MSME vendors. The new Syariah Compliant Supplier Financing Programme which UEM Edgenta has partnered with HSBC Amanah on, is a further development of UEM Edgenta’s supply chain financing initiative.
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