OCBC Bank (Malaysia) Berhad (OCBC Bank) is availing the game-changing SME Energy Efficiency Assessment (SMEEA) tool to Malaysian SMEs, enabling them to assess the energy usage of their property in the journey to a green loan.

The tool, developed by the Building and Construction Authority of Singapore (BCA), is now used in several markets where the OCBC Group operates. It makes the transition to sustainability simpler with easier access to green loans.

OCBC Bank, the only bank in the country using the SMEEA tool to assess the energy performance of a property, has seen significant success in supporting SMEs with green commercial property loans since the tool was soft launched in the country earlier this year.

Explaining how the tool works, OCBC Bank Managing Director and Head of Emerging Business Mr Chan Kok Leong said property owners can access the tool via BCA’s Super Low Energy Building (SLEB) Smart Hub to assess how energy-efficient their property operations are.

“SMEs that use the tool to demonstrate their property’s energy efficiency levels and achieve a certain threshold are eligible to obtain a green loan from OCBC Bank. It is free, fast and user-friendly, with no consultants needed for the assessment. A key benefit of using SMEEA is that the SME receives a report identifying additional measures that can be implemented to lower the energy consumption of their property. The SMEs will also receive a certificate for their property instantly,” he said.

He added that the SMEEA calculator provides SMEs with the perfect place to start from before moving confidently into the journey proper.

“With the SMEEA, SMEs will, in a few simple steps, be able to gain a sense of where exactly they are in the sustainability journey before availing themselves to the necessary solutions to embark on a sustainability plan. We are delighted to share that Yongyang Sdn Bhd is the first of our customers to avail themselves to this tool, and their feedback tells the story,” he said.

According to Director of Yongyang Sdn Bhd, Ms Regine Choo, OCBC Bank was instrumental in supporting their sustainability efforts by providing tailored financing solutions that made it possible for them to scale their projects.

“OCBC Bank’s expertise in green financing and willingness to start where the customer is – rather than where they hope we are – has helped us manage costs effectively and invest wisely in new technologies,” she said.

According to Mr Chan the provision of the SMEEA tool is part of a larger plan to bring SMEs deeper into the sustainability conversation, bearing in mind they form the bulk of companies in the country and can collectively make a telling difference.

“We are excited about the journey ahead and invite all SMEs to take full advantage of the tool, whatever their current standing in ESG practices,” he said.

As part of its strategic plan to promote sustainable financing, OCBC Bank Managing Director and Head of Wholesale Banking Mr Jeffrey Teoh highlighted the Bank’s active engagement of SMEs at the recent International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) where he said many SMEs quickly warmed up to the SMEEA tool.

“We are always on the lookout for opportunities to accelerate the transition to a net-zero future. As a responsible financial institution and a connector of capital, we recognise the critical enabling role that we play in the journey towards a net-zero future. Our aim is to enable our clients’ transition through strategic advisory and innovative financial solutions. This is why we promoted the use of the SMEEA tool to the many SMEs that attended IGEM. We are proud to be the first bank in the country to introduce this tool and are confident of gaining a significant increase in applications for green commercial property loans as a result of SMEs using the SMEEA tool,” he said.

At IGEM, OCBC Bank also hosted a group of students from Dwi Emas International School, Malaysia’s First Entrepreneurial International School. Apart from cultivating an entrepreneurial mindset and academic excellence among their students, Dwi Emas offers the ACE EdVenture Biosphere programme, a NatureTech focused learning curriculum designed to grow Green Heroes who can propose innovative solutions to actively help to restore the planet and regenerate the future.

For further details on OCBC Bank’s sustainability-related programmes for SMEs, please visit https://www.ocbc.com.my/group/sustainability