Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) and Persada Mentari Sdn Bhd (“PMSB”) yesterday signed a Memorandum of Understanding (“MoU”) to encourage sustainable development and living through the ownership of green-certified properties.

PMSB, a special purpose vehicle formed by Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern & Oriental Berhad and KWEST Sdn Bhd, a wholly-owned subsidiary of Kumpulan Wang Persaraan (Diperbadankan), is the developer for the Andaman Island project, a unique conception of sustainable living, excellent connectivity, and lush landscaping. The project was recently awarded the provisional GreenRE Platinum Certification this year.

This partnership provides homeowners with fast access to Alliance Bank’s Green Mortgage Financing Package, a competitive financing package with a simple and convenient application process to purchase properties within E&O’s Andaman Island.

“In our aspiration to be a bank for the community and ESG-focused organisation, we continue to innovate and develop customer-centric solutions to meet our customers’ evolving needs. Our collaboration with like-minded partners such as E&O reinforces our commitment to fostering sustainable community and environment. We are enlarging our footprint in the consumer segment and offering end-to-end property financing through collaborations such as this, which facilitates homeowners’ access to our Green Mortgage Financing Package. In addition, this collaboration opens a new avenue for us to expand the Bank’s green propositions in the Northern region, one of our key target markets identified under the Bank’s Acceler8 refreshed strategy,” said Mr Kellee Kam, Group Chief Executive Officer of Alliance Bank.

In line with Alliance Bank’s sustainability goals, the Bank aims to achieve RM10 billion in new sustainable banking business by FY2025 while reducing our greenhouse gas emissions. The Bank is on track towards achieving its target, having recorded RM8.1 billion in new sustainable banking business as at 31 March 2023.
Mr Kok Tuck Cheong, Managing Director of Eastern & Oriental Berhad said, “Our role at E&O as a developer and operator of premium lifestyle developments does not stop at creating economic value and maintaining an excellent track record of delivering products with exceptional value. We also prioritise the importance of preserving the environment and enhancing the well-being of the communities we operate in with a purpose of building a better place for our future generation. The principle of sustainability is clearly at the core of our business as we thrive to integrate sustainability goals, strategies and policies across our group to achieve the right balance between economic success and an ecologically sustainable environment.”

He further added, “The partnership with Alliance Bank to offer the Green Mortgage Financing Package is beneficial for everyone to move towards building a greener future. It represents an initiative to empower home buyers to invest or to live-in in sustainable and eco-friendly homes.”

Adding to the list of the Bank’s green propositions in the consumer segment is the launch of Malaysia’s first in-app Dynamic Card Number feature in the Alliance Bank Visa Virtual Credit Card in April 2023. It enhances customers’ overall experience when they transact online as it is a safer and more secure payment solution. It also provides an ESG-friendly option for customers as it eliminates the need of a physical card, reducing resources used.