EXIM BANK ENTERS INTO MEMORANDUM OF COLLABORATIVE ARRANGEMENT (MOCA) WITH MIGHT TECHNOLOGY NURTURING SDN BHD (MTN).
Kuala Lumpur (6 October 2016) – In conjunction with International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2016), Export–Import Bank of Malaysia Berhad (EXIM Bank) and MIGHT Technology Nurturing Sdn Bhd (MTN) has signed a Memorandum of Collaborative Arrangement (MOCA).
The signing was conducted between the President/CEO of EXIM Bank, Puan Norzilah Mohammed and the Managing Director of MTN, Y.Bhg. Datuk Nik Ahmad Faizul and witnessed by the Minister of KeTTHA, YB Datuk Seri Panglima Dr. Maximus Johnity Ongkili, Chairman of EXIM Bank, Y.Bhg. Datuk Mat Noor Nawi and the Chairman of MTN, Y.Bhg. Datuk Dr. Mohd Yusoff Sulaiman. Also in attendance were the CEO of NCIA, YBhg. Dato' Redza Rafiq, and the President/CEO of CGC, En. Mohd Zamree Mohd Ishak.
This arrangement portrays the commitment from both EXIM Bank and MTN to facilitate the sharing of information on the industry players in order to achieve the common objective in strengthening and assisting the industry players for the export market. It also highlights the efforts to jointly establish a mutually beneficial relationship and areas of mutual interest so as to promote synergy on expert advice and consultation, create opportunities to develop programmes in the areas of training, information, research and development (R&D) and other knowledge-based activities related to the development of the industry players.
Pursuant to the MOCA, EXIM Bank also signed an Islamic Facility Agreement amounting to USD10.0 million with Evergreen Corporate Sdn Bhd (ECSB) for the development of the first Thermal Recovery Unit (TRU). The Facility Agreement was signed by President/CEO of EXIM Bank, Puan Norzilah Mohammed and Encik Wan Afif Azizul, Managing Director of Evergreen Corporate Sdn Bhd.
The TRU technology, which is the first in the ASEAN region, will be able to convert waste into high value end products through the adoption of the Advanced Continuous (Air-lock System) Pyrolysis technology. This technology will be able to convert waste such as waste tires and plastics to produce high value and quality products, namely Euro 2 diesel, refined carbon black N330, N550, N660 and N774, hard pressed steel wires and syngas in an environmental friendly way.
This effort is in line with the Government’s aspiration to reduce the Country’s carbon emission and the Cost of Living of the “Rakyat” via the “Waste to Energy” initiative. From a National Agenda standpoint, this initiative is coherent with:-
1. Government’s “National Green Technology Policy Strategic Thrusts” under Thrust II – Provide Conducive Environment for Green Technology Development
2. 11th Malaysia Plan under Strategic Thrust IV – Pursuing Green Growth for Sustainability and Resilience, and
3. The National Sustainable Consumption and Production (SCP) Blueprint 2016-2030 under Pathway IV – Towards a Circular Economy Waste System.
This technology will facilitate the growth of the Green Technology Industry and enhance its contribution to the national economy by helping to transform the “Waste to Energy” Industry in Malaysia.