KUALA LUMPUR: RHB Bank Bhd targets to allocate about RM200 million under the RHB Financial supply chain (RHB FSC) platform in 2017.
RHB Banking Group managing director Datuk Khairussaleh Ramli said since the first quarter of 2015, RHB Bank has ranked more than RM100 million financing under the RHB FSC to various industries.
"RHB continues with our commitment to provide simplified financial solutions to our customers.
"The RHB FSC supplier financing solution not only allows optimisation of working capital for both Brunsfield and its suppliers and sub-contractors but at the same time strengthens the buyer-supplier relationship in the supply chain," he said at the signing ceremony of RHB FSC agreement with Brunsfield International Group, here today.
Khairussaleh said through the RHB FSC supplier financing solution, suppliers and sub-contractors benefit from more predictable cash flow.
Besides that they are also able to mitigate risk while improving payment balance sheet, as well as reducing operational cost through simple streamlined processing via the RHB FSC platform.
RHB Bank had today signed an agreement with Brunsfield to participate in the RHB FSC which provides a convenient and seamless online platform for financing and payment solution.
Under the RHB FSC supplier financing solution, Brunsfield's suppliers and sub-contractors will have access to accelerated payment without need for collateral and without recourse basis.
The company signed up for an FSC supplier finance of RM60 million with RHB Bank.
The solution enables suppliers and sub-contractors to convert receivables to cash and transfer collection risk to the bank.
Brunsfield and its approved suppliers and sub-contractors will be connected via the RHB FSC platform, a secured and integrated web-based financial platform, available through RHB Reflex, for all financing requests.
RHB FSC platform provides full visibility of transactions done online, real-time which improves operational efficiency and facilitates easy reconciliation for both Brunsfield and its suppliers and sub-contractors.