Vendor Financing – PETRONAS
Background
A strategic collaboration between Bank Islam Malaysia Berhad, PETRONAS and Syarikat Jaminan Pembiayaan Perniagaan (SJPP) to support PETRONAS Vendor growth.
The collaboration offers structured financing facilities to PETRONAS’ vendors in order to suit the requirements in completion of contracts awarded by PETRONAS.
Benefits
- Competitive financing rate
- Simplified approval process
- Customized facility structure in accordance with the contract requirements by PETRONAS
- Collaboration with SJPP as credit guarantee provider
Eligibility
- Local business entities
- Vendors licensed and registered with PETRONAS or its subsidiaries
- The main contractor who has directly obtained a contract/ work order from PETRONAS or its subsidiaries
- Meet minimum ratings by PETRONAS as follows:
- Contractors Performance Evaluation (CPE) of Class A, B and C; or
- Supplier Tracking Assessments Rating (STAR) of 4 Star, 3 Star and 2 Star.
Facilities Offered
- Business Cash Line-i
- Ijarah Thumma Bai’-i (AITAB-i) (based on contract requirement)
- Multi Trade Facilities
Facilities Limit
Up to RM 10 million
Purpose of Financing
- Working Capital
- Capital Expenditure (specific to the contract financed by the Bank)
Financing Rate
Base Financing Rate / Cost of Funds + minimum 1.00% per annum
Type of contract
- Direct supply or trading;
- Supply, installation and commissioning, testing, commissioning, training, etc.;
- Business Services including provision of service and maintenance;
- Any other contracts as approved by the Bank
Guarantee Provider
Syarikat Jaminan Pembiayaan Perniagaan (SJPP)
(Only applicable for SMEs)
How to apply
