StarHub’s subsidiary Malaren International has entered into a RM270 million ($88.8 million) sustainability-linked term loan facility agreement with CIMB Bank Berhad on September 17.

The sustainability-linked loan is the first for both companies.

CIMB will grant a rebate against the loan interest if the telco is able to achieve the pre-agreed annual targets in its CDP Climate Change Scores from FY2021 to FY2023. CDP, which is the leading global benchmark on the management of climate-related impacts, used to be known as the Carbon Disclosure Project.

“As we are driving our business to support the growth and development of new services, we are pleased to underpin our commitment in our sustainability strategy by taking up our very first sustainability-linked loan with CIMB,” says Dennis Chia, StarHub’s CFO.

“We are cognisant of the risks and opportunities associated with climate change, as well as our multifaceted role as a financial institution in working with stakeholders to advance sustainability principles,” says Gurdip Singh Sidhu, group chief strategy and design officer at CIMB Group.

“Our aim is to encourage and enable positive developments such as climate risk mitigation and adaption, as well as financial inclusion,” Gurdip adds.

As at 10.26am, shares in StarHub are trading 1 cent higher, or 0.8% up, at $1.19.

StarHub subsidiary secures first sustainability-linked loan of RM270 mil from CIMB

Singapore 'acutely aware' of global competition to be AI hub, plans to triple AI talent pool to 15,000

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

UOB Kay Hian and CGS-CIMB analysts stay put on IHH Healthcare

CGS-CIMB reiterates Boustead Singapore at 'add' and $1.40

Citi lowers FLCT's TP to $1.24, cuts FY2024 and FY2025 DPU estimates by 8.4%

How to reduce and manage cyber risks during M&As

StarHub subsidiary secures first sustainability-linked loan of RM270 mil from CIMB

Related News

Highlights

Singapore 'acutely aware' of global competition to be AI hub, plans to triple AI talent pool to 15,000

Related News

CIMB Singapore well poised to capture new growth as regional economies recover

Brokers' Digest: IREIT Global, Dyna-Mac Holdings, OCBC, Venture Corporation, StarHub

CGS-CIMB raises EPS estimates as StarHub’s 1HFY2023 surpasses expectations