The RM100 million revolving credit facility is the first SLL for an East Malaysian company and the first SLL for a utility sector company in Malaysia, reaffirming Sarawak Energy’s commitment to keep its grid emission intensity in alignment with the Paris Agreement and light up 100% of Sarawak by 2025 as the implementing agency of the Ministry of Utilities Sarawak.
KUALA LUMPUR, Oct 22 (Bernama) — Sarawak Energy Berhad (“Sarawak Energy”) has secured an RM100 million sustainability-linked loan (“SLL”) in the form of a revolving credit facility from CIMB Bank Berhad (“CIMB” or “the Bank”), making Sarawak Energy the first East Malaysian company, and the first utility company in Malaysia, to secure a loan linked to measurable sustainability performance targets (“SPTs”). The announcement was made via a virtual SLL acceptance ceremony during a Fireside Chat session with Sarawak Energy on “Creating a Sustainable Business Model that Works”, in conjunction with CIMB’s The Cooler Earth Sustainability Summit 2020.
Datuk Amar Abdul Hamed Sepawi, Chairman of Sarawak Energy, said, “Sarawak Energy plays an important role as the State’s primary energy developer and power utility, and as a key implementer of the Sarawak Government’s vision and strategic initiatives in the provision of clean, renewable, reliable and affordable energy to our communities. We strive to incorporate sustainability into our businesses, operations and interactions with the community. Through a more strategic approach to sustainability, we are creating value for all our stakeholders by managing long-term risks and opportunities. This sustainability-linked loan, validates our efforts in sustainability – not only is it good for the environment, it is also good for business.”