Kota Kinabalu, Malaysia – 23 July 2024 – Export-Import Bank of Malaysia (EXIM Bank Malaysia) has extended financial support to Ignis Environment Initiatives Sdn Bhd for an innovative waste management project in Sabah. This initiative aligns with the Bank’s commitment to partnering with businesses that advance environmental sustainability.

The initiative involves the deployment of a new patented Malaysian technology aimed at reducing waste volume, contributing to recycling efforts, and promoting sustainable environmental practices. The 3R (Reduce, Reuse, Recycle) rehabilitation technology will be implemented at the Sandakan Municipal Council’s (MPS) landfill, marking a significant advancement in waste management infrastructure.

The agreement signed today between EXIM Bank Malaysia and Ignis Environment Initiatives Sdn Bhd follows the signing of a concession agreement between Ignis SG (Sabah) Sdn Bhd and MPS, marking a crucial step towards innovative waste management solutions in Sabah. The collaboration is expected to bring about significant improvements in waste reduction and recycling efforts in Sandakan.

Dr Liza Mydin, Chief Strategy Officer of EXIM Bank Malaysia, remarked,

“Innovative approaches to waste management are essential for addressing the environmental challenges we face today. The solution provided by Ignis is poised to create a substantial positive impact on the community and the environment, and we are committed to supporting initiatives that are advancing sustainable solutions for a greener future.”

Deputy Chief Minister II and Local Government and Housing Minister Datuk Seri Dr. Joachim Gunsalam witnessed the signing, further underscoring the importance of this partnership. Alan Tan Yean Keat, Executive Chairman of Ignis SG (Sabah) Sdn Bhd, signed the agreement, with CEO Tee Hong Wee as a witness, while Dr Liza Mydin and Sarevenan Moorthi, Head of Regional Office represented the Bank and MPS President Henry Idol represented the council.

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About EXIM Bank of Malaysia Berhad

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.  EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.exim.com.my.

About IGNIS Environment Initiatives Sdn Bhd

IGNIS Environment Initiatives Sdn. Bhd. has always been driven forward by two cores success principles: Leadership and Teamwork. Its corporate slogan of “Together We Achieve” has prevailed since it was established in August 1998 as Quan Cheng Hardware. The company’s core business is in the collection of industrial scrap materials, providing added value and reselling to local steel mills or overseas customers. In 2003, the company purchased a 2-acre plot of industrial land. This was followed by investment in the machinery and workforce was increased.

Today, IGNIS Environment Initiatives Sdn. Bhd. is a vibrant company with a strong team and an annual turnover of RM 84 million in 2017 compared with RM 2.5 million in 1999. As a fast-moving company, IGNIS Environment Initiatives Sdn. Bhd.’s secret of success is sheer hard work and determination. The receiving achieved past accolades such as “Golden Bull Award” in 2011 and 2012. Winner of SME 100 Awards 2012 is testimony of the company’s hard work and towards new height of growth. For more information, visit https://ignismalaysia.com/#.