CIMB commits RM500 million in financing to accelerate SME growth in Sarawak by 2028 
 

KUCHING, Sarawak, Sept 3 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) launched the SME Community Outreach Programme (“SCOP” or “the Programme”) in Sarawak, in collaboration with the Regional Corridor Development Authority (“RECODA”), with a commitment of RM500 million in financing facilities by 2028. Through SCOP, a flagship commitment aligned to the CIMB SMEBizReady proposition, the Bank aims to support the unique needs and growth opportunities for Sarawak’s small and medium enterprises (“SMEs”), by providing timely market insights and tailored financial solutions while fostering strategic partnerships with government agencies, industry players and technology providers to drive digitalisation and sustainable growth.
 
YB Datuk Amar Haji Awang Tengah Ali Hasan, Deputy Premier of Sarawak and the state’s Minister of International Trade, Industry and Investment (“MINTRED”), alongside Datuk Haji Ismawi Haji Ismuni, Chief Executive Officer of RECODA, and Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic were present at the launch of SCOP. The event gathered 200 SME entrepreneurs, business owners, and industry players based in Sarawak for knowledge sharing, business networking, and capacity building.

In his address, YB Datuk Amar Haji Awang Tengah highlighted the wide range of initiatives spearheaded by MINTRED to strengthen SMEs in Sarawak, ranging from soft loans and micro-credit schemes to digitalisation programmes and international trade expos. He also shared that Sarawak’s approved investments of over RM102 billion since 2021 have opened up significant opportunities for SMEs within supporting industries.

“When SMEs thrive, they form the backbone of our economy by attracting investment, driving exports, and creating high-value jobs. These investments, in turn, transform our economic landscape, spur technological advancement, and ensure that prosperity is shared inclusively across Sarawak.,” he said, urging participants to leverage the programme to forge new partnerships and drive innovation in their businesses.

Through SCOP, CIMB will leverage its SMEBizReady proposition to provide SMEs with end- to-end solutions that facilitate technology adoption, automation, digitalisation and sustainable practices, in line with the National Industrial Master Plan 2030 (“NIMP”). Supported by Bank Negara Malaysia-funded schemes, the value-based financing (“VBF”) offered under SMEBizReady is complemented with access to technology solution partners, enabling Sarawak’s SMEs to enhance their competitiveness, scale sustainably and position the state as a dynamic hub for domestic and regional growth. To date, the proposition has approved a total of RM1.4 billion in financing, benefitting 743 SMEs nationwide.

Ahmad Shahriman said, “CIMB’s long-standing presence in Sarawak underscores our purpose of advancing customers and society, helping SMEs build a resilient and future-ready economy via our SMEBizReady programme. With SCOP and our commitment of RM500 million in financing to accelerate SME growth in Sarawak by 2028, we aim to enable businesses capture opportunities in digitalisation, automation, and sustainability, supported with the right financing for them to grow and thrive. By empowering SMEs to innovate and scale, we are not only enabling their success but also contributing to broader economic resilience, inclusivity, and long-term progress across the state as well as the region. Our commitment goes beyond financing, it is also about equipping businesses with the tools, knowledge and network to adapt to change and create lasting impact for their communities and the economy as a whole.”
 
With over 15 distribution channels, including branches, SME Centres, and a Commercial Business Centre, CIMB provides tailored financing, advisory services, and resources for SMEs to scale. As of June 2025, CIMB has approved RM5.3 billion in financing for more than 1,500 SMEs in Sarawak. Sarawak now ranks among CIMB’s top five SME markets nationwide, reflecting the resilience, innovation, and growth potential of its entrepreneurs, and the Bank’s strategic role in enabling their success.
 
Datuk Haji Ismawi highlighted the shared goals between RECODA and CIMB in empowering entrepreneurs and rural communities. He outlined key initiatives in the SCORE region such as the Inisiatif Pertanian Rakyat (“IPR”), the Socio-Economic Development Plan (“SEDP”), and COMMUNITY@SCORE, which aim to create sustainable livelihoods, strengthen supply chains, and raise household incomes.

Sarawak’s robust economic landscape provides a strong market for growth. As a national leader in hydropower, the state delivers clean and reliable energy that fuels industrial expansion and attracts investment. It is also advancing rapidly in agro-based industries, renewable energy, manufacturing, healthcare and digital transformation, with SMEs at the heart of innovation and economic diversification.
 
The Programme marked the first SME Community Outreach Programme held in East Malaysia, building on CIMB’s previous collaborations with economic corridors such as NCIA and IRDA. The Sarawak edition featured sharing sessions and showcases by MINTRED, Sarawak Economic Development Corporation, Sarawak Digital Economy Corporation Berhad, CIMB Islamic, T-Robot, Akar Indah Engineering, and DHL Malaysia, alongside an exhibition of government agencies, financial institutions, and technology partners offering solutions, grants, and support to help SMEs scale and compete in regional markets.

Moving forward, the Programme will continue to serve as a platform for connection, collaboration, and opportunity, equipping SMEs in Sarawak and beyond to seize their rightful place in the ASEAN growth story.

About CIMB

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM73.0 billion as at 30 June 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines.

Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 571 branches and over 33,000 employees as at 30 June 2025. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.
 
About RECODA

The Regional Corridor Development Authority (RECODA) is the statutory body established by the Sarawak Government to drive the growth of the Sarawak Corridor of Renewable Energy (SCORE). RECODA is mandated to spearhead strategic infrastructure projects, attract investments, and implement socio-economic development programmes that generate opportunities and uplift communities across SCORE.
 
RECODA oversees three regional development agencies, the Upper Rajang Development Agency (URDA), the Highland Development Agency (HDA) and the Northern Region Development Agency (NRDA), covering more than 100,000 square kilometres in central and northern Sarawak. Working in close collaboration with ministries, industry players and local communities, RECODA plays a pivotal role in positioning Sarawak as a competitive, sustainable and inclusive regional economy, in line with the state’s Post-COVID-19 Development Strategy (PCDS) 2030.

SOURCE:  CIMB Bank Berhad
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com 

For more information about RECODA and its initiatives towards transparent governance, visit www.recoda.gov.my
Contact:
Name: Daniella Lupi Balan
Senior Executive, Communications & External Relations
Tel: 013-8021992 

--BERNAMA