Friday, October 12, 2012

Peter Chin to talk to Bank Negara about easier terms for green loans

KUALA LUMPUR: Talks will be held will with Bank Negara to ease the loan regulations for companies that wish to develop green technology, said said Energy, Water and Green Technology Minister Datuk Seri Peter Chin.
Chin said financial institutions should take a more positive attitude to supporting small and medium enterprises (SMEs) that require funds to embark on greentech projects.
“What banks should think is “how much businesses can I create” instead of “how much bad debts I will make” when evaluating loans by SMEs who want to develop green technology,” said Chin at the 3rd International Greentech and Eco Products Exhibition & Conference Malaysia (IGEM 2012) on Friday.
Chin was speaking at a ministerial dialogue held at the conference, which was entitled “Green Technology for Growth”, and among the issues touched on were funding for research and development of green technology.
Prime Minister Datuk Seri Najib Tun Razak, when unveiling Budget 2013 recently, had announced that businesses would soon be able to use intellectual property (IP) rights as a form of collateral to obtain financing from financial institutions.
“This is an innovative method of getting funding, instead of the traditional way where land, assets or capital is used by banks to evaluate loans. IPs have high value.
“Companies like Microsoft are among the biggest corporations in the world because of their IPs. I will be speaking to the Bank Negara governor about this,” Chin told reporters after the dialogue.
Other speakers at the dialogue session were Janusz Zaleski, Under-secretary of State, Environment Ministry of Poland, Brunei Energy Minister Datuk Seri Awang Mohammad Yasmin Umar and High Commissioner of Singapore Ong Keng Yong.

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