SMBCMY grants 900 million yen eco-loan facility to ISF

KUALA LUMPUR: Sumitomo Mitsui Banking Corporation Malaysia Bhd (SMBCMY) has granted a 900 million yen Environment Assessment Loan (eco-loan) facility to Intercontinental Specialty Fats Sdn Bhd (ISF). (JPY100 = RM3.86)

ISF is a manufacturer of premium grade specialty fats & oils with strong focus in the chocolate and chocolate confectionery segments, according to a statement.

Eco-loans are offered to corporations that have incorporated sustainable practices into its ecomanagement framework, whereby successful corporations will be given a rating after assessment by an external auditor.

ISF which obtained a Gold+ rating proactively implements environmental and sustainable initiatives based on company-wide environmental management and has basic understanding of environmental and sustainable issues in relation to its business.

SMBCMY president and chief executive officer, Tetsuya Kainaka said: “The Malaysian Government has been encouraging companies to incorporate sustainable practices into their respective eco-management framework. SMBCMY supports this effort by offering eco-loans to corporations that have made the leap to become eco-friendly.

“In Malaysia, awareness on eco-loans is currently prevalent amongst Japanese companies compared to Malaysian companies. Therefore, we will work closely with the Malaysian Government to create more awareness on ecoloans amongst the latter.”

SMBCMY offered its first eco-loan in 2012 and to date, approximately RM78 million in facilities have been offered to Japanese companies operating in Malaysia. — Bernama