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PETALING JAYA: AmBank Group has granted a RM130 million green financing facility to Persada Mentari Sdn Bhd (PMSB) to facilitate the development of Arica @ Andaman Island as well as future projects there.
PMSB, a special purpose vehicle formed by Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern & Oriental Bhd, and KWEST Sdn Bhd, a wholly owned subsidiary of Kumpulan Wang Persaraan (Diperbadankan), is the developer of the Andaman Island project. The project was recently awarded the provisional GreenRE Platinum Certification.
AmBank Group CEO Datuk Sulaiman Mohd Tahir said they are pleased to support Persada Mentari in providing green financing facilities for the environmentally-friendly project and believed that through this partnership they can make a real difference not only about making a positive impact on the environment but also to create a brighter future for generations to come.
“This effort will further demonstrate our commitment in promoting and optimising sustainable financing and we are proud to be part of growing movement with PMSB in their initiatives towards a sustainable and resilient economy,” he added
In congratulating PMSB for its recent win in the provisional GreenRE Platinum Certification, AmBank Group, business banking managing director Christopher Yap said they are honoured to support PMSB’s vision towards building a township designed with a strong foundation on sustainable principles and practices.
Eastern & Oriental executive chairman Datuk Tee Eng Ho said: “Arica is E&O’s second serviced residence project, which is developed after the success of our first residential development, known as The Meg. Designed to meet Green Building Certification standards, the development is in line with our sustainability principles and has recently received the GreenRE Platinum Provisional Certification under the residential category from Malaysia’s Real Estate and Housing Developers Association.
“With that said, the green financing facility offered by AmBank is a testament to our commitment towards sustainable developments, as well as doing our part in embracing green building technology initiatives to achieve construction quality and environmental sustainability. This facility came at an opportune time and we are confident that Arica will be on track for completion by end of 2026.”
In addition to financing the project, AmBank will also be providing RM77 million worth of end-financing for the residential units.
