Kinergy Advancement Berhad (KAB), a leading One-Stop Energy and Engineering Solutions Provider, and Alliance Bank Malaysia Berhad (ABMB) have formalized a Memorandum of Understanding (MoU) at the International Greentech Eco Products Exhibition Conference Malaysia (iGEM). This strategic partnership sets the stage for promoting green technology financing and clean energy initiatives in Malaysia.
iGEM, Southeast Asia’s largest trade event for green technologies and eco solutions, provided the backdrop for this significant announcement. The MoU builds on a prior collaboration involving KAB, ABMB, and Mah Sing Group Berhad, and outlines their joint commitment to progress in several critical areas, including sustainable, green, and clean energy projects, technology innovation, green financing, and sustainability development within the realms of ESG (Environmental, Social, and Governance).
As part of the agreement, KAB will play a central role by providing sustainable energy engineering services to promote green and clean energy solutions within Malaysia. These services include specialized engineering consultancy for ABMB, participation in green project financing discussions, and support for ABMB’s initiatives in SES (Sustainable Energy Solutions), ESG, and sustainability development.
ABMB, in return, will offer preferential financial solutions tailored to KAB’s SES projects, facilitate strategic connections, serve as the primary banking institution for green project financing, and support KAB in accelerating its ESG and sustainability efforts within its supply chain.
The initial term of the MoU is two years, with the possibility of extension through mutual written consent. This partnership exemplifies the commitment of KAB and ABMB to work together towards a sustainable and prosperous future.
Dato’ Lai Keng Onn, Executive Deputy Chairman cum Group Managing Director of KAB, expressed their commitment to advancing environmental sustainability and fostering innovation. He emphasized the importance of forward-looking collaborations to achieve a just and responsible energy transition and a carbon-neutral economy. This partnership positions KAB as a trusted technical partner in the sustainable energy solutions sector.
KAB, with its expertise in sustainable energy technologies, aims to leverage its resources to assist other businesses in managing their carbon emissions, thus contributing to a more sustainable future.
Mr Raymond Chui Keng Leng, Group Chief SME & Commercial Banking Officer at ABMB, underscored the bank’s dedication to promoting sustainable financial practices and supporting green initiatives. This collaboration represents the beginning of a dynamic partnership that will encourage innovation and sustainability in Malaysia.
The collaboration between KAB and ABMB positions both organizations to capitalize on the growing ASEAN market, fostering sustainable development and showcasing innovative solutions to policymakers, government organizations, investors, and the public.