KUCHING: Sarawak Energy is stepping up efforts to strengthen its supply chain by securing new financing support for local vendors through partnerships with Perbadanan Usahawan Nasional Berhad (PUNB) and United Overseas Bank (UOB) Malaysia.
Sarawak Energy said the two Memoranda of Understanding will give vendors easier access to working capital, equipment financing and expansion funding, which are essential to delivery across its projects.
Sarawak Energy Group chief executive officer Datuk Sharbini Suhaili said partnerships with financial institutions are a key part of its vendor development plan.
“Our approach to sustainable vendor development is built on strong partnerships that enable local businesses to grow alongside us.
“Collaborating with financial institutions and development agencies such as PUNB and UOB allows us to help local vendors build capacity, access funding and strengthen delivery performance.
“This reflects our commitment to Sustainable Development Goal 17 and to advancing a resilient, inclusive supply chain that supports Sarawak’s development,” he said.
In light of this, the company said the collaborations build on its Vendor Development Programme and Vendor Financing Programme, which focus on governance, training and structured engagement.
It added that local vendor participation rose by more than 70 per cent in 2024, with most contracts awarded to Sarawakbased suppliers.
Moreover, the company also works with Bank Islam, RHB Bank, SME Bank and Ikhtiar Factoring, and said the new partnerships further widen financing options for vendors. For the record, the MoUs were signed at Menara Sarawak Energy on Nov 12, with Sharbini signing for the company. PUNB was represented by chief executive officer Izwan Zainuddin, while UOB Malaysia was represented by Country Head of Transaction Banking Lucas Chew.
