Alliance Bank Malaysia Berhad and Persada Mentari Sdn Bhd (PMSB) have formally entered into a Memorandum of Understanding (MoU) with the shared objective of promoting sustainable development and environmentally conscious living through the acquisition of green-certified properties.

PMSB, acting as a specialised entity established by Tanjung Pinang Development Sdn Bhd (TPD) – a subsidiary of Eastern & Oriental Berhad – along with KWEST Sdn Bhd, a fully owned subsidiary of Kumpulan Wang Persaraan (Diperbadankan), has taken the lead in the development of the Andaman Island project.

This visionary project embodies the essence of sustainable living, seamlessly blending exceptional connectivity and verdant landscaping. The recent accolade of provisional GreenRE Platinum Certification for this project marks a significant achievement this year.

This strategic alliance extends homeowners the privilege of swift access to Alliance Bank’s Green Mortgage Financing Package, a competitive financial offering characterised by a user-friendly application process. This financing package caters to those seeking to acquire properties within Eastern & Oriental Berhad's Andaman Island development.

Mr. Kellee Kam, Group Chief Executive Officer of Alliance Bank, expressed, "Guided by our commitment to community engagement and ESG-focused initiatives, we remain at the forefront of innovation, consistently designing solutions that resonate with our customers' evolving requirements. Collaborations with like-minded partners such as Eastern & Oriental Berhad underscore our unwavering dedication to nurturing sustainable communities and environments.

"This partnership amplifies our presence in the consumer realm, delivering end-to-end property financing solutions. It simplifies homeowners' access to our Green Mortgage Financing Package. Additionally, this collaboration opens up fresh avenues for us to expand our green initiatives in the Northern region, a pivotal market as identified in Alliance Bank's Acceler8 refreshed strategy."

Aligned with Alliance Bank's sustainability aspirations, the bank is striving to achieve RM10 billion in new sustainable banking endeavours by FY2025 while concurrently curbing greenhouse gas emissions. Progressing steadily towards this target, the bank has already achieved RM8.1 billion in new sustainable banking ventures as of March 31, 2023.

Mr. Kok Tuck Cheong, Managing Director of Eastern & Oriental Berhad, emphasised, "At E&O, our role as a developer and curator of upscale lifestyle communities extends beyond the mere creation of economic value and the consistent delivery of exceptional products.

"We hold in high regard the preservation of the environment and the enhancement of community well-being, with a steadfast commitment to building a better world for future generations.

"Sustainability is unequivocally the cornerstone of our business ethos, as we endeavor to seamlessly weave sustainability goals, strategies, and policies throughout our group operations. This balance between economic success and ecological sustainability remains our driving force."

He further added, "The collaboration with Alliance Bank to introduce the Green Mortgage Financing Package is a shared stride towards a greener future. This initiative empowers prospective homeowners to invest in or reside within sustainable, eco-friendly residences."

Augmenting its portfolio of environmentally-conscious offerings within the consumer sector, Alliance Bank proudly unveiled Malaysia's pioneering in-app Dynamic Card Number feature in the Alliance Bank Visa Virtual Credit Card in April 2023.

This groundbreaking feature augments the overall online transaction experience, prioritising security and reliability. Moreover, it provides an ESG-aligned alternative for customers, eliminating the necessity for a physical card and subsequently reducing resource consumption.

For more comprehensive insights into this collaborative endeavour or to explore the diverse range of products and services offered by the bank, please visit the official website at https://www.alliancebank.com.my.

For more environmental news

To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.

Source: Alliance Bank