Kuala Lumpur: CIMB Bank Berhad (“CIMB” or “the Bank”) has entered into a RM270 million durable loan agreement with Malaren International Sdn. Bhd., a subsidiary of StarHub Group (“StarHub”), a leading provider of communication, information and entertainment services in Singapore. This is the bank`s (“SLL”) first sustainable loan since the announcement of its SLL offering in January 2020, with a commitment of RM3 billion to SLL for corporate borrowers. SLL also marks StarHub`s first loan linked to sustainable development goals. For a full suite of Business Solutions, you will receive up to RM10 million in business financing and access to SME partners to strengthen your business. StarHub`s commitment and transformation into a more responsible and sustainable company began in 2008. Since then, he has implemented many sustainable and environmentally friendly practices throughout the company, including combating electrical waste (electrical waste), reducing energy and water consumption and promoting measures to combat climate change, while providing first-class communication, entertainment and digital solutions to consumers, to businesses and government customers. CIMB is the founding signatory of the Principles for Responsible Banking of the United Nations Nations Environment Programme Finance Initiative (UNP FI), the first ASEAN banking group to be a signatory and signatory to the Climate Action Collective. In 2019, CIMB introduced its Group Sustainable Management Policy and Positive Impact Framework (“PIPS”). In line with these, CIMB was also one of the first Malaysian banks to announce the SLL incentive, with RM3 billion earmarked for corporate borrowers. To encourage transparency and environmental performance, CIMB will provide a debt interest discount based on StarHub`s performance in its annual CDP climate change scores from GJ 2021 to GJ 2023. StarHub is entitled to interest savings each year if it is able to meet the agreed annual targets in advance for CDP Climate Change Scores.
CDP, formerly known as the Carbon Disclosure Project, is a leading global benchmark for managing climate-related effects to assess respondents` progress on environmental responsibility. Sustainability is an integral part of CIMB and StarHub`s strategy and operations. As an organization that can influence sustainability best practices within its network, CIMB aims to steer customers towards the introduction of responsible business practices by mitigating negative effects while enabling and stimulating positive business behaviors. The availability of these LLS is part of this sustainability approach that allows corporate borrowers to improve their sustainability performance in line with one or more of the 17 Sustainable Development Goals (SDGs). Sdra Mohamad Nazir Mahajal Abidin – or better known as Abang Nazir, an extremely jovial member of NUBE, joined the bank in 1989 in Bumiputra Malaysia Berhad Bank (now CIMB Bank Bhd). He has been a beacon of hope for many members of nuBE KLSP Branch, because during the 20 years he has been active at NUBE, the member has had his unchalled attention at any time of the day. . . .