Pantas and AmBank embark on a strategic partnership to incentivise and support Malaysian SMEs in pursuing impactful green practices under auspices of Bank Negara Malaysia’s Greening Value Chain Programme​

(From Left) Evelyn Chye, Managing Director of BSI Malaysia, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Max Lee, Chief Executive Officer of Pantas Software Sdn. Bhd, Tan Sri Dato’ Lim Kuang Sia, Group Managing Director and Chief Executive Officer of Kossan Rubber Industries Bhd, Lawrence Lim, Chairman of the KOSSAN Sustainability Committee, Azman Taufik, Senior Vice President, Business Development and Product of Credit Guarantee Corporation and Shamsul Bahar bin Mohd Nor, Group Chief Executive Officer of Malaysian Green Technology and Climate Change Corporation   

KUALA LUMPUR, 23 MARCH 2023 - Pantas, a leading KL-based climate tech provider, and AmBank, have signed a MOU to collaborate on the Greening Value Chain (GVC) programme to incentivise and assist Malaysian SMEs in implementing impactful, long-term change to green their operations.

The GVC programme was successfully rolled out by Pantas and AmBank on March 7, 2023 at Sasana Kijang and was held in attendance of En Suhaimi Ali (Assistant Governor of Bank Negara Malaysia), Max Lee (Chief Executive Officer, Pantas Software Sdn. Bhd.) and Dato’ Sulaiman Mohd Tahir (Group Chief Executive Officer of AmBank Group).

AmBank is Pantas’s official banking partner for the GVC programme and will be providing relevant sustainability-linked financing products to small and medium-sized enterprises (SMEs). The partnership aims to provide innovative financing solutions to SMEs that promote climate resilience, reduce greenhouse gas emissions and contribute to a more sustainable future.

The collaboration between Pantas and AmBank will see developments of new financial products that link SME financing to sustainability performance. Pantas’ carbon accounting software will be offered for free to selected clients of AmBank and GVC participants to measure and track their climate and sustainability KPIs. This will enable SMEs to demonstrate their commitment to tackle climate change, while also benefiting from innovative financing solutions and BNM's Low Carbon Transition Facility (LCTF) of RM2 billion, to support their growth and development.

In addition to that, Pantas and AmBank will work with other service provider partners with the support from Joint Committee on Climate Change (“JC3”) which is co-chaired by BNM and Securities Commission Malaysia, to provide free training, carbon accounting software and technical expertise to help SMEs meet sustainability KPIs. The first GVC training session was held on March 21st, 2023 in Lanai Kijang, Kuala Lumpur. SMEs received training on climate change, carbon accounting, and how to start measuring, reducing, and reporting their emissions through Pantas software solutions. In addition, representatives from AmBank guided the SMEs on how to seamlessly access the LCTF and the first sustainability-linked financing for SMEs in Malaysia through AmBank-Pantas solutions.

SMEs are vital to the Malaysian economy, and they play a crucial role in creating jobs and driving innovation. In his speech, Mr. Suhaimi Ali, Assistant Governor of BNM said that, “As an exporting nation, Malaysia must also prepare for tightening of climate-related regulations that may be imposed by our trading partners. Small and medium enterprises (SMEs) that form 37.4% of Malaysia’s economy are the most susceptible. According to report findings by the Sustainable Finance Institute Asia 2022, SMEs stand to lose RM292 billion in revenue due to non-ESG compliance.”

"We are excited to be partnering with AmBank for the GVC programme to promote sustainability-linked financing for SMEs," said Max Lee, CEO of Pantas. "SMEs are the backbone of the global economy, and they have a critical role to play in promoting sustainability and climate resilience. Through this collaboration, we aim to provide SMEs with access to innovative and easy to use carbon accounting tools coupled with financing solutions that enable them to invest in sustainable projects that benefit both their businesses and the environment."

"As a responsible financial institution resolute in championing sustainable growth that combines both financial and ESG considerations, we are highly committed to supporting SMEs that promote sustainability and climate resilience," said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer of AmBank Group. "By partnering with Pantas, we can provide SMEs with access to innovative financing solutions that link their financing to their climate performance. This will enable SMEs to demonstrate their commitment to sustainability and access the financing they need to grow and thrive. The Pantas accounting software will also provide the pivotal green measurement solutions which is imperative in providing credible data for our collective reporting obligations under the broader ESG agenda.”