KUALA LUMPUR: Sarawak Energy Bhd has inked a memorandum of understanding with RHB Islamic Bank Bhd, Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) and Ikhtiar Factoring Sdn Bhd to provide financing solutions for local contractors under the energy developer and power utility’s Vendor Financing Programme.
It said in a statement the collaboration will focus on boosting local contractors' financial capacity by providing better access to financing facilities as well as strengthening the vendor ecosystem and accelerating vendor transformation.
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