RHB Bank Bhd and PETRONAS Bhd have signed a memorandum of understanding to implement a Sustainable Vendor Financing Programme aimed at strengthening Malaysia’s oil and gas services and equipment (OGSE) ecosystem as it adapts to the energy transition.
The programme, part of PETRONAS’ Supplier Support Programme, is intended to support Malaysian OGSE vendors, particularly small and medium enterprises, in maintaining competitiveness while meeting sustainability requirements under Malaysia’s National Energy Transition Roadmap.
The initiative provides access to tailored sustainable financing for eligible vendors enrolled in the Supplier Support Programme, with funding designed to support operational growth, business continuity and sustainability improvements alongside environmental, social and governance practices.
RHB said the financing approach will be guided by its Sustainable and Transition Finance Framework, aligned with vendors’ transition readiness and focused on emissions reduction, efficiency and long-term value creation.
“Through this collaboration with PETRONAS, RHB aims to provide credible and practical sustainable and transition financing that helps OGSE vendors strengthen resilience, capture emerging opportunities and advance their sustainability pathway in a commercially viable manner,” said Angus Salim Amran, Group Chief Sustainability Officer of RHB Banking Group.
