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Banks still doubtful on green projects’ viability

 

Friday June 24, 2011

By ROSLINA MOHAMAD 

roslina@thestar.com.my

KUANTAN: Banks are still apprehensive about the viability of green technology projects, said the Malaysia Green Technology Corporation(GreenTech Malaysia).

GreenTech representative Haniff Ngadi said the corporation received 116 applications on green technology projects and approved 90 of them but only a handful of projects were implemented.

The agency, under the purview of the Energy, Green Technology and Water Ministry, also issued letters of offer for 20 projects and letters of guarantee to 17 projects.

Haniff said only a handful of projects had been implemented due to banks' apprehensiveness over their viability.

“Generally, many are still unaware or lack understanding of such projects.

“We take note that it is a new sector in the country and it is a learning curve for everyone.

“Efforts are being made to enhance awareness of the projects,” he told reporters after attending a dialogue session with the business and banking community here on Wednesday.

The dialogue, jointly orga- nised by Bank Negara and The Association of Banks in Malaysia (ABM), was attended by more than 90 participants with speakers from SME Corporation Malaysia, Credit Guarantee Corporation Malaysia Bhd and GreenTech.

Bank Negara assistant governor Abu Hassan Alshari Yahaya said a project may be technically certified as using green technology but that did not necessarily make it viable.

“Banks will still take into account other factors like profit and the benefits that can be derived,” he added.

ABM's executive director Chuah Mei Lin said the dialogue was a fruitful session as both the bankers and business community raised a lot of issues.

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