3 days ago
Potential Kota Kinabalu Chinese Chamber of Commerce - Malaysian Industrial Development Finance Berhad collaboration
Published on: Monday, July 21, 2025
Published on: Mon, Jul 21, 2025 Text Size: Lui (third left) in a group photo with MIDF VP Yip Weng Seng and others. Kota Kinabalu: The Kota Kinabalu Chinese Chamber of Commerce & Industry (KKCCCI) is open to forging a strategic partnership with Malaysian Industrial Development Finance Berhad (MIDF) to better support local entrepreneurs in the face of economic challenges and climate-related disruptions. KKCCCI President Datuk Michael Lui Yen Sang expressed strong support for the collaboration during a courtesy visit by MIDF Vice President Yip Weng Seng and senior Sabah branch officers at Wisma KKCCCI on Friday.
Advertisement Lui said the Chamber welcomed MIDF's financing offerings, especially its low-interest loans and tailored moratorium facilities, which provide crucial relief for local businesses often impacted by natural disasters. 'Generally, businesses welcome low interest rates, and MIDF's initiatives come as timely support. The moratorium facility is a great sigh of relief for many local business owners,' Lui said. He also expressed interest in working closely with MIDF to organise joint activities and seminars to raise awareness of the agency's financing schemes among KKCCCI members and the wider business community. MIDF, a wholly owned subsidiary of MBSB Berhad, offers services in investment banking, development finance, and asset management. According to Yip, who also oversees MIDF operations in East Malaysia (Sabah and Sarawak), the agency currently provides one of the most competitive interest rates in the market. Yip added that MIDF's green financing schemes are available for solar panel installation, eco-friendly machinery, and electric vehicle (EV) charging stations, aligning with global sustainability goals. Also present during the visit were MIDF Sabah Branch Head Sudirman Mohd Alwi and Relationship Managers Wong Siew Wan and Caroline Fredrick. Both parties agreed to continue discussions on future collaborations that could benefit Sabah's business ecosystem. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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