SME Bank has inked a Memorandum of Understanding (MoU) with Johor Petroleum Development Corporation Berhad (JPDC) to bolster economic development in Johor. The collaboration aims to leverage SME Bank’s financial assistance and advisory services expertise to foster investment and enhance local participation in the Pengerang Integrated Petroleum Complex (PIPC).
Speaking on the partnership, SME Bank Group President/Chief Executive Officer, Datuk Wira (Dr.) Aria Putera Ismail highlighted the bank’s commitment to supporting SMEs, with over RM47 billion in financing approved since its inception. Specifically, RM560.74 million has been allocated to entrepreneurs in Johor, reflecting the bank’s dedication to the region’s economic growth.
Under the MoU, SME Bank and JPDC will collaborate to identify and nurture potential vendors from Pengerang and across Malaysia, providing guidance in business and financial management, access to funding, and other essential support services. The initiative aims to equip local contractors with the necessary skills to thrive in industries such as downstream oil and gas, petrochemicals, and chemicals.
JPDC’s Acting Chief Executive, Izhar Hifnei Ismail, highlighted the Contractor Development Program (CDP) as a continuation of efforts to enhance skills and job competency training in PIPC. The CDP will focus on providing business management skills and competencies to Malaysian contractor companies, enabling them to meet industry demands domestically and internationally.
Through this collaboration, SME Bank and JPDC aim to drive socio-economic development in Pengerang and Johor, aligning with the national agenda of promoting inclusive growth and empowering local communities. The MoU signing signifies a significant step towards nurturing a skilled and competent local workforce to meet the evolving needs of the industry.
The MoU was signed by Datuk Wira (Dr.) Aria Putera Ismail and Izhar Hifnei Ismail, in the presence of SME Bank Group Chief Corporate Strategy Officer, Datuk Dr. Mohammad Hardee Ibrahim. The collaboration is expected to pave the way for impactful capacity-building initiatives tailored to Johor’s specific needs, fostering sustainable economic growth in the region.
