Boustead Plantations Berhad (BPB) today enters into a RM45 million green financing agreement with China Construction Bank (Malaysia) Berhad (CCBM) to facilitate its sustainable replanting exercise.
BPB seeks to leverage on the financing to maximise the ongoing accelerated sustainable replanting programme, particularly for its plantation assets in Sabah, from this year until 2024.
The signing also marks a significant milestone for CCBM as it was the bank’s first green plantation financing in Malaysia.
The financing agreement was signed by BPB Director Ahmad Shahredzuan Mohd Shariff and Company Secretary Affendi Mohd Yob, while CCBM was represented by its Executive Vice President Wang Shaoqiang.
Present to witness the ceremony, held at Royale Chulan Damansara, were BPB Chief Executive Officer Zainal Abidin Shariff and CCBM Chief Executive Officer Wang QiJie.
BPB is always on the lookout for collaborative financing exercise in the financial and debt market that emphasises on the principles of environmental, social and governance, in line with its long-standing sustainability stance.