MREM - Press Releases

KUALA LUMPUR, Nov 20 (Bernama) -- CIMB Bank Berhad (“CIMB”) through its Hong Kong branch recently onboarded Hong Kong’s Shangri-La Asia Limited (“Shangri-La Asia”) and Kerry Properties Limited (“Kerry Properties”) as clients for its sustainability linked loan (“SLL”), embedding environmental, social and governance (“ESG”) aspirations into their funding/borrowing. 
 
The SLL requires ongoing commitments from both Shangri-La Asia and Kerry Properties to deliver their sustainability performance in order to receive sustainability-linked rebates/incentives, which are tied to pre-agreed Sustainability Performance Targets (“SPTs”) that are unique for each client’s business profile and subjected to stringent independent third-party verification. 
 
Shangri-La Asia’s SLL is a five-year bilateral term loan of CNH500 million and while the SLL extended to Kerry Properties is a five-year agreement totaling HKD500 million consisting of a term loan and revolving credit facility. 
 
Shangri-La Asia’s sustainability targets include annual reductions, covering the areas of energy intensity, carbon intensity, water intensity, single-use plastics usage and employee work injury rate. Meanwhile, the sustainability targets for Kerry Properties include maintaining inclusion in the Hang Seng Corporate Sustainability Benchmark Index, targets for new investment properties achieving “Green Certification” according to pre-agreed conditions, and reduction in the Group’s greenhouse gas emissions intensity. 
 
Chu Kok Wei, Chief Executive Officer of Group Wholesale Banking, CIMB Group said, “We are pleased to support Shangri-La Asia and Kerry Properties in their sustainability journeys. We take our commitment to sustainability with utmost priority, recognising our role as a financial institution in fostering sustainable development alongside our stakeholders. The SLL advances our dedication towards sustainable finance by integrating environmental and social considerations into financing terms, which encourages and drives sustainable corporate practices in the region and beyond. We look forward to continuing to partner our clients across all sectors as they progress along the path of their ESG aspirations.” 
 
The SLL is set to spur greater commitment to sustainability on the part of both organisations and at the same time contribute to CIMB Group’s commitment to providing its clients with a diverse range of sustainable finance solutions as guided by the Group’s Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework.

About CIMB 
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM72.7 billion as at 30 June 2024. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar and Philippines). 
 
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 594 branches and over 33,000 employees as at 30 June 2024. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

SOURCE : CIMB Group

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications 
CIMB Group Holdings Berhad
Email : anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com

--BERNAMA