KUALA LUMPUR, April 19 — RHB Islamic Bank Bhd will provide financing facilities totalling RM31.35 million to part finance two Prima Corporation Malaysia (PR1MA) projects in Kelantan.
The facilities encompass the provision of financing to property developers, AUEI Teras Holdings Sdn Bhd (AUEI) and Vertex Central Industries Sdn Bhd for a total amount of RM17.75 million for a PR1MA project in Kubang Kerian, and RM13.6 million for another project in Machang.
The collaboration was announced at an exposition hosted by the Bumiputera Agenda Steering Unit (Teraju) entitled “Steering Bumiputera Agenda 2017 — Launching of Bumiputera Economic Transformation Roadmap 2.0 (BETR 2.0)” here today.
RHB Islamic Managing Director/Chief Executive Officer Datuk Adissadikin Ali said with the scheme in place, more Teras companies would have the opportunity to embark on viable business ventures that would uplift their technical, business and financial capabilities to higher levels.
”The Teras programme led by Teraju is aimed at increasing Bumiputera small and medium enterprise (SME) participation in the Malaysian economy,” he said in statement today.
On Dec 10, 2012, RHB Islamic entered into a financing collaboration with Teraju to facilitate access to funding and advisory services to Teras companies.
RHB Islamic was the first Islamic commercial bank to partner with Teraju in assisting high-performing, bankable SMEs with readily available funds of RM1 billion, comprising RM400 million in working capital financing and RM600 million in asset acquisition. — Bernama