AmBank sees more demand for green financing in FY23

• AmBank entered into a RM100 million green financing facility with Kerjaya Prospek Property for the development of the Courtyard by Marriot Hotel in Bloomsvale, an upcoming mixed development along Old Klang Road.

KUALA LUMPUR (Sept 7): AMMB Holdings Bhd (AmBank) is seeing more demand in green financing this year, according to chief executive officer Datuk Sulaiman Mohd Tahir (pictured).

"Last year, [a total of] RM3.7 billion loan was disbursed. But this year, we are starting to see more [demand]. In the first quarter [ended June 30, 2022 (1QFY23)], we gave RM400 million in loans.

"And with Malaysia's commitment to moving towards zero carbon emissions by 2050, I want to make sure that the companies we lend to can reduce their carbon emissions. We encourage all our developers to build green," Sulaiman told the media after the signing ceremony between AmBank and Kerjaya Prospek Property Sdn Bhd on Wednesday (Sept 7).

AmBank on Wednesday entered into a RM100 million green financing facility with Kerjaya Prospek Property for the development of the Courtyard by Marriot Hotel in Bloomsvale, an upcoming mixed development along Old Klang Road.

It is part of AmBank's efforts to offer its customers with green financing options as it furthers its goal in driving the group's environmental, social and governance (ESG) sustainability initiative.

Bloomsvale is a mixed development which comprises a hotel, serviced apartments, office suites, and a shopping mall. The projects will be certified with GreenRE's platinum rating for its residential area, and gold rating for its commercial buildings.

"We are proud of Kerjaya Prospek Property's milestone in making greener decisions for their upcoming project, Bloomsvale. This initiative is in line with AmBank Group's efforts to enhance and optimise our financing facilities to positively impact our stakeholders and continuously improve customers' experience under our broader ESG agenda. We are pleased to support Kerjaya Prospek Property in the green endeavours and we look forward to the endless possibilities that this partnership might bring in the future," added Sulaiman.

Meanwhile, Kerjaya Prospek Property executive chairperson Datin Toh Siew Chuon said this green loan is a testament to the group's commitment to including more sustainable projects in its portfolio and to being more responsible in its development and construction.

"We are optimistic about embracing green initiatives and we will be launching more green developments in the near future," she added.

AmBank shares closed up 0.25% to RM4.05 on Wednesday, with a market value of RM13.42 billion.

Kerjaya Prospek Property Bhd's share price finished 0.5 sen or 0.79% higher at 64 sen, giving it a market capitalisation of RM1.48 billion.