InfoSAWIT, SINGAPORE – Bank of East Asia, Limited (BEA) and Wilmar International Limited (Wilmar) recently announced significant collaboration with the goal, to get sustainable practices go forward in financial and agribusiness sectors.
The two companies got a two year - sustainability linked loan (SLL) for about US$ 100 million that signed agreement between the two.
From the memorandum of understanding, loan interest margin would be decreasing based on the particular sustainability performance target by Wilmar. The targets would cover some environmental, social and governance (ESG) metrics. These would reflect internal performance indicator and external comparison standards. One stand out criteria is Wilmar’s sustainability of inclusivity in Index Dow Jones Sustainability (DJSI) World that acknowledged top 10 percent from 2.500 biggest companies in the globe based on ESG criteria.
The consistency of Wilmar in DJSI World index for the past three years in row or since November 2021 emphasized its position as the leader of sustainability in agribusiness sector. The achievement reflected the persistent commitment of the company to get practice of sustainabililty in its operation.
As in the official statement to InfoSAWIT, General Manager of BEA Singapore, Oh Ah Guat told his satisfaction to support Wilmar for the second time through the loan that had something to do with sustainability. He also told BEA would be committed more to help every key client in their sustainable practices by emphasizing the positive impacts for the people from the collaboration.
Meanwhile, Chief Operating Officer and Chief Financial Officer Wilmar, Charles Loo told, the company is committed to always implement sustainable and responsible business progress. He emphasized the double goal of SLL would provide not only financial support but also would be the incentive to escalate ESG performance in Wilmar.
Charles Loo continued the company would try the best to take advantage on the capital to positively create the impacts and good result for the communities where Wilmar operates to deliver better and more sustainable future for every related stakeholder. (T2)
