RHB plans to allocate RM200m for platform
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