RHB plans to al­lo­cate RM200m for plat­form

New Straits Times - - Business | News -

KUALA LUMPUR: RHB Bank Bhd plans to al­lo­cate about RM200 mil­lion un­der the RHB fi­nan­cial sup­ply chain plat­form this year.

RHB Bank­ing Group man­ag­ing di­rec­tor Datuk Khairus­saleh Ramli said since the first quar­ter of 2015, RHB Bank had granted more than RM100 mil­lion fi­nanc­ing un­der the plat­form to var­i­ous in­dus­tries.

“RHB con­tin­ues with our com­mit­ment to pro­vide sim­pli­fied fi­nan­cial so­lu­tions to our cus­tomers,” he said at the sign­ing of a RM60 mil­lion agree­ment with Brunsfield In­ter­na­tional Group to pro­vide a con­ve­nient and seam­less on­line plat­form for fi­nanc­ing and pay­ment so­lu­tion, here, yes­ter­day.

“The RHB fi­nan­cial sup­ply chain plat­form not only al­lows op­ti­mi­sa­tion of work­ing cap­i­tal for Brunsfield and its sup­pli­ers and sub-con­trac­tors but also strength­ens the buyer-sup­plier re­la­tion­ship in the sup­ply chain.”

Khairus­saleh said sup­pli­ers and sub-con­trac­tors would ben­e­fit from more pre­dictable cash flow.

They could also mit­i­gate risks while im­prov­ing pay­ment bal­ance sheet, as well as re­duce op­er­a­tional cost through sim­ple stream­lined pro­cess­ing via the RHB fi­nan­cial sup­ply chain plat­form.

Brunsfield’s sup­pli­ers and subcontractors will have ac­cess to ac­cel­er­ated pay­ment with­out the need for col­lat­eral and re­course ba­sis. The so­lu­tion en­ables sup­pli­ers and sub-con­trac­tors to con­vert re­ceiv­ables to cash and trans­fer col­lec­tion risk to the bank.

Brunsfield and its sup­pli­ers and sub-con­trac­tors will be con­nected via the se­cured and in­te­grated web-based fi­nan­cial plat­form for all fi­nanc­ing re­quests.

The RHB fi­nan­cial sup­ply chain plat­form pro­vides full vis­i­bil­ity of trans­ac­tions done on­line at real time. Farah Adilla

RHB Bank­ing Group cor­po­rate bank­ing head Wendy Ting Wei Ling (left) ex­chang­ing doc­u­ments with Brunsfield In­ter­na­tional Group ex­ec­u­tive di­rec­tor Mo­hamad Has­san Zakaria at the sign­ing of the agree­ment for the RHB fi­nan­cial sup­ply chain plat­form in Kuala Lumpur yes­ter­day. With them are RHB Bank­ing Group man­ag­ing di­rec­tor Datuk Khairus­saleh Ramli (sec­ond from left) and Brunsfield man­ag­ing di­rec­tor Tan Sri Dr Gan Thian Leong.

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