Agrobank targets outstanding financing of RM1b in Sabah in 2018

KOTA KINABALU, Oct 9 — Agrobank is targeting to achieve a total outstanding balance of RM1 billion in Sabah this year, a 16 per cent increase from that of last year.

Its President and Chief Executive Officer, Syed Alwi Mohamed Sultan said until September this year, the bank recorded a total outstanding financing of about RM960 million in the state.

“Sabah is blessed with a lot of agriculture industries, from fisheries, right to palm oil, while durian is picking up.

“So, we can have a lot of areas where we can actually support our customers (to meet the target),” he told reporters after attending Agrobank’s Agenda Agro, a knowledge-sharing programme, here today.

Syed Alwi said the bank would be introducing new products and initiatives in line with the Agriculture and Agro-based Industry Ministry’s objectives, especially in addressing key issues in the agricultural sector.

He said as the world was confronted by global food insecurity, Malaysia has to work towards food security and self-sufficiency in various segments such as the ruminant industry, rice and dairy products.

“The import bills in Malaysia last year was RM51 billion. So, the ministry is looking at how we can reduce the food import bills so that we can promote agriculture production in Malaysia.

“Agrobank is happy and keen to be part of this entire economic sector and promoting the entire agriculture sustainability agenda,” he said.

More than 100 Agrobank’s clients in Sabah attended the Agenda Agro, which was its seventh location after Perlis, Pahang, Sarawak, Johor, Perak and Penang. — Bernama

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