HONG LEONG PLEDGES RM350m TO TERAS

PETALING JAYA: Hong Leong Islamic Bank Bhd (HLISB) has pledged RM350 million for the Bumiputera Agenda Steering Unit (Teraju) via its high-performing Bumiputera companies (Teras) programme.

Of the total amount pledged, RM225 million is for working capital funding and the balance for asset acquisition financing.

Teraju Bumiputera Corp has entered into a cooperation agreement with HLISB, bringing the total available funds for Bumiputera firms to RM2.89 billion.

HLISB chief executive officer Jasani Abdullah said the bank would be able to access potential businesses among the current 1,060 registered Teras firms as well as future firms while promoting the Teras programme to the bank’s existing Bumiputera firms.

“HLISB targets to provide financing facilities to between 20 and 30 Teras registered companies annually.”

Jasani said HLISB would be focusing on industries such as construction and infrastructure, telecommunications, agriculture, manufacturing and green technology. Ayisy Yusof