OCBC continues to support sustainable investments in Sarawak

KUCHING (Nov 22): OCBC Bank (Malaysia) Bhd (OCBC Bank) has reaffirmed its commitment to supporting sustainable investments in Sarawak following a visit to the Premier of Sarawak’s office recently.

OCBC chairman Tan Ngiap Joo led a delegation of senior representatives from OCBC Malaysia’s Board of Directors and Management to pay a courtesy visit to the Premier Datuk Patinggi Tan Sri  Abang Johari Tun Openg to reaffirm the group’s commitment to the state.

Also present at the visit at the Sarawak Legislative Assembly (DUN) building were the state’s senior officials along with OCBC Group chairman Andrew Lee, OCBC Group chairman Helen Wong, CEO  Tan Chor Sen, OCBC Bank Board member George Lee, and head of Investment Banking and senior banker Tan Ai Chin.

During the visit, OCBC Bank reaffirmed its commitment to continue supporting investments in projects that benefit the environment and community and promote the economic growth of Sarawak.

Tan Ngiap Joo said OCBC has a long history in Sarawak, being the first foreign bank to set foot in the State when its first branch was established in Kuching 75 years ago.

“Leveraging on the OCBC Group’s strong franchise, we are dedicated to supporting our customers in the region and encouraging them to consider investment into Sarawak.

“This is a testament to our commitment and resolute support of the Sarawak state government’s aspirations and goals to lead the green economy agenda in the region.

“We would like to reaffirm OCBC Malaysia’s long-term commitment to Sarawak as the first and longest serving foreign bank here, having been part of the local community since 1948,” he said.

He added, Sarawak remains a vitally important part of OCBC Malaysia’s strategic thrust in contributing to the economic growth of Malaysia, which is an important key market to the OCBC Group.

The bank’s commitment and resolute support of Sarawak’s aspirations is seen in its lead arranger role in the Sarawak government’s RM15 billion Sukuk Programme and patronage and sponsorship towards sustainable related conferences that the Sarawak government oversees.

“OCBC Malaysia is encouraged in knowing that Sarawak has taken a pioneering role in the realm of sustainability, being a catalyst and leading the charge in the ESG agenda. As a key financial partner to the Sarawak State government and market leader in sustainable finance, we shall continue providing the essential financial support towards initiatives that create positive impact on both our stakeholders and valued customers for a greener and more sustainable future.”

OCBC Malaysia is a strong advocate of sustainability and financial inclusion with several pioneering efforts and initiatives towards the development of the sustainable finance markets in Malaysia. As a Group, OCBC had, earlier this year, unveiled its ambitious decarbonization targets for six sectors to achieve Net Zero in its financed emissions by 2050. The Group also announced recently that it has surpassed the S$50 billion mark in committed sustainable finance in 2023 with current total loan commitments at S$52.1 billion, two years ahead of its target to reach S$50 billion by 2025.

OCBC Malaysia comprises OCBC Bank (Malaysia) Berhad (OCBC Bank) and its wholly owned subsidiary OCBC Al-Amin Bank Berhad (OCBC Al-Amin). Of OCBC Malaysia’s 38 branches nationwide, three are located in Sarawak – in Kuching (since 1948), Miri (since 2006) and Sibu (since 2015).