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BANK PEMBANGUNAN MALAYSIA BERHAD INKS STRATEGIC COLLABORATION WITH MALAYSIA DIGITAL ECONOMY CORPORATION TO CATALYSE THE GROWTH OF MALAYSIA’S DIGITAL ECONOMY

 

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Wednesday, 27 October 2021, Kuala Lumpur – Bank Pembangunan Malaysia Berhad (BPMB) today announced its strategic collaboration with Malaysia Digital Economy Corporation (MDEC) – aimed at supporting the development and adoption of digitalisation in businesses to catalyse the country’s economic recovery.

 

This collaboration leverages on MDEC’s network in the digital technology community and BPMB’s funding support to accelerate the country’s digital transformation. Such funding access will assist the businesses to scale-up and automate its operations to meet market demand, and to adapt to the new normal in the growing need for digitalisation and automation of business operations.

 

In efforts to advance Malaysia’s digitalisation initiatives, the collaboration will feature funding support from BPMB geared towards amplifying MDEC’s Digital Agtech Programme – targeted at the farming community. As a start, BPMB’s support targets the chilli farming community, beginning with the Pertubuhan Peladang Kawasan Kuala Langat (PPKKL) group. Under this initiative, BPMB has allocated RM10 million to fund the chilli farmers’ adoption of the smart farming system. The funding will be deployed through a peer-to-peer financing platform operated by microLEAP PLT.

 

The exchange of the Memorandum of Understanding (MOU) was held recently at the AI & Data Week 2021 (AIDW 2021), organised by MDEC from 25 October to 29 October 2021. BPMB was represented by the Bank’s President/Group Chief Executive Officer, Arshad Ismail and MDEC was represented by its Chief Executive Officer, Mahadhir Aziz at the virtual signing ceremony. The AIDW 2021 is a week-long curation of virtual events focussing on the Internet of Things Data, and Artificial Intelligence (AI) – featuring a host of talks and panel discussions by the captains of the digital economy.

 

Commenting on this strategic collaboration, Arshad said, “Guided by our mission of providing – ‘Impactful Delivery with Strategic Outcomes,’ we continue to play a strategic role to help businesses recover, and to revitalise and reform the economy through our various products and financing solutions with an emphasis on Digitalisation, Inclusivity and Sustainability. As one of Malaysia’s oldest development financial institutions, we are committed to facilitating greater automation and digitalisation across all sectors and businesses in the country especially since the pandemic has accelerated the shift to digital technologies.

 

“As such, we are happy to have formed this strategic partnership with MDEC as this collaboration is a strong testament of BPMB’s commitment as Malaysia’s leading sustainable development finance provider – complementing MDEC, who has been at the forefront of championing and accelerating ICT and digital economy growth in Malaysia. I am confident that this collaboration with MDEC will yield positive results. There is much more we can and should do together. I therefore look forward to leveraging on our collective strengths and expertise to form the ideal partnership in our journey to catalyse the growth of Malaysia’s Digital Economy,” Arshad elaborated.

 

“As Malaysia’s lead digital economy agency, MDEC is committed towards driving the digitalisation of Malaysian businesses. This is aligned towards the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL) and the Twelfth Malaysia Plan (12MP), which place emphasis on the importance of the digital economy in the nation’s short-term economic recovery and its long-term goals of being a Prosperous, Inclusive and Sustainable Malaysia. 

 

“We are privileged to have formed this strategic collaboration with BPMB, which will be a significant step towards accelerating our Digital Agtech Programme and driving deeper, wider adoption of Fourth Industrial Revolution (4IR) technologies nationwide. MDEC has been driving further collaboration amongst all digital economy stakeholders, and this partnership with BPMB is testament to the power of collaboration in elevating Malaysia as the Heart of Digital ASEAN,” said Mahadhir.

 

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Photo Caption

 

PIC 1 – BPMB inks strategic collaboration with MDEC to Catalyse the Growth of Malaysia’s Digital Economy

 

 

 

 

 

 

 

 

 

 

ABOUT BANK PEMBANGUNAN MALAYSIA

Bank Pembangunan Malaysia Berhad (BPMB) was incorporated on 28 November 1973 as a development financial institution. BPMB’s role includes the provision of various corporate financing facilities and training and advisory services, particularly to Bumiputera entrepreneurs. Today, BPMB is focused on medium to long-term financing in sectors deemed strategic to national economic development.

 

Owned by Minister of Finance (Incorporated), BPMB has been accorded the highest rating of ‘AAA’ by both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad. It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002.

 

BPMB is strongly capitalised and positioned for growth. As at 31st December 2020, BPMB Group has Total Assets valued at RM23.5 billion and shareholders’ funds of RM7.9 billion.

 

For more information, please contact: 

 

Shazrina Othman

Head, Corporate Communications

Bank Pembangunan Malaysia Berhad

Tel: (019) 336 7274

Email: shazrina@bpmb.com.my  

 

 

Izzat Ratna

Senior Executive, Corporate Communications

Bank Pembangunan Malaysia Berhad

Tel: (012) 642 1889

Email: izzat@bpmb.com.my



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