DIGITAL Penang and Alliance Bank Malaysia Berhad have joined forces through a Memorandum of Understanding (MoU) to strategically uplift Penang’s small and medium-sized enterprises (SMEs) and startups.
Digital Penang, established in April 2020 as a government-linked company under the state government, aims to spearhead initiatives in the digital economy and cultivate a digitally inclusive society.
On the other hand, Alliance Bank stands as a pioneering force in the banking industry, renowned for its dedication to fostering the advancement of Malaysian businesses.
The MoU signing ceremony was held at the Digital Penang office in China Street Ghaut today.
Digital Penang was represented by its chief executive officer Ng Kwang Ming and Alliance Bank was represented by its Group chief SME, commercial and transaction banking officer Raymond Chui.
The MoU signing ceremony was witnessed by Chief Minister Chow Kon Yeow and Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari.
Ng highlighted that the strategic collaboration is positioned to elevate financial literacy within local businesses.
“Through this MoU, we aim to furnish them with essential banking solutions crafted to expedite their growth, aligning with the Penang2030 vision to bolster the competitiveness and resilience of local enterprises.
“Local SMEs and digital startups will receive comprehensive support and guidance regarding banking facilities and services, underscoring our unwavering commitment to nurturing new enterprises in Penang,” Ng said in his speech during the MoU signing ceremony today.
Ng emphasised that through the collaboration, Digital Penang and Alliance Bank would host programmes for their extensive network of SMEs, startups, and business associates, streamlining their access to customised business banking solutions.
“These holistic programmes, developed in partnership with Alliance Bank, aim to empower our SMEs and startups with the financial knowledge necessary to thrive in a competitive digital landscape.
“These initiatives will, in turn, fortify Penang enterprises, equipping them to capitalise on opportunities in the digital economy,” he said.
Meanwhile, Chui said through the collaboration, Alliance Bank would help local SMEs and startups understand how to better navigate banking facilities crucial to their growth through expert guidance and advisory services.
“Alliance Bank will also hold seminars and workshops focused on expediting the business loan application process, while addressing common hurdles encountered by business owners along the way.
“Overall, this partnership with Digital Penang underscores our shared values in accelerating the digital agenda.
“This has been a central focus for Alliance Bank, especially in developing solutions tailored for micro and smaller SMEs, aiming to enhance efficiency, accessibility, and inclusivity,” said Chui.
Chow, also serving as the Digital Penang chairman, mentioned that the MoU signifies an important milestone in the joint dedication of Digital Penang and Alliance Bank to Penang’s economic development.
“Both organisations are committed to leveraging their expertise to bolster the growth of local enterprises and cultivate a vibrant ecosystem marked by robust innovation and prosperity.
“This partnership highlights our dedication to nurturing startups in Penang by offering ongoing support and guidance to local SMEs concerning banking facilities and services.
“This collaboration also solidifies Penang’s position as a leading centre for digital and economic advancement, ensuring a sustainable and prosperous future for businesses,” he said.
Later, a media appreciation dinner was hosted to acknowledge the invaluable contributions of media practitioners in the state.
Also present were Digital Penang Board of Directors Datuk Tan Ching Siang, Thillai Raj T. Ramanathan, Dr Iza Fazlan Mohd Nor, Datin Bharathi Suppiah, who is also the Chief Minister Incorporated (CMI) general manager, and Gooi Hsiao-Leung, who is also the Bukit Tengah assemblyman.
Story by Riadz Akmal
Pix by Muhamad Amir Irsyad Omar
Video by Noor Siti Nabilah Noorazis