Moneysave, Labuan Chamber Of Commerce Ink MoU For RM200 Mln SME Financing Initiative
- 12 minutes ago
- 2 min read
BUSINESS • 26/06/2026 03:05 PM
By Jailani Hasan
KOTA KINABALU, June 26 (Bernama) -- Moneysave (M) Sdn Bhd and the Labuan Chamber of Commerce (LCC) signed a memorandum of understanding (MoU) today to launch a RM200 million financing initiative aimed at improving access to capital for small and medium enterprises (SMEs) in Sabah and Labuan.
The MoU, signed during the 13th Sabah Oil, Gas and Energy Conference and Exhibition (SOGCE) 2026, is expected to strengthen business growth and industrial development by providing financing facilities for companies across strategic sectors.
The agreement was signed by Moneysave chief executive officer Vincent Soh and LCC president Daniel Doughty, witnessed by Sabah Deputy Chief Minister Datuk Seri Panglima Dr Joachim Gunsalam and attended by industry leaders, investors and conference delegates.
Moneysave is a peer-to-peer (P2P) crowdfunding platform regulated by the Securities Commission Malaysia.
Under the collaboration, businesses will have access to financing solutions including project financing, working capital, invoice financing, factoring and business expansion funding, enabling more local companies to participate in larger projects and strengthen their long-term competitiveness.
The initiative is expected to benefit SMEs involved in sectors such as oil and gas, logistics and transportation, maritime services, manufacturing, construction support services, renewable energy and industrial services in Sabah and Labuan.
Speaking after the signing ceremony, Soh said Moneysave aims to make financing more accessible for businesses with strong commercial potential that often face challenges in securing conventional funding.
He said the company offers short-term financing facilities ranging from RM500,000 to RM25 million for working capital, bridging finance, project financing and invoice factoring.
“Over the next three years, we aim to finance RM1 billion nationwide, with RM200 million specifically allocated to support businesses in Sabah and Labuan,” he said.
Meanwhile, Doughty described the partnership as a catalyst for regional economic transformation, saying improved access to financing would enable more SMEs to expand their operations and participate in larger supply chains.
He said the complementary strengths of Labuan’s international financial ecosystem and Sabah’s growing industrial, logistics, energy and maritime sectors would create greater opportunities for investment and business collaboration.
Under the partnership, Moneysave and LCC will jointly organise financing clinics, business advisory programmes, investment forums, SME engagement sessions, business matching initiatives and financial literacy programmes to improve financing readiness and facilitate business growth.
Also present at the MoU signing was Labuan Corporation deputy chairman Simsudin Sidek, who welcomed the collaboration and commended LCC for its continued participation in SOGCE.
He said Labuan remained a strategic partner in supporting Sabah’s oil and gas industry through its strengths in financial services, maritime support, logistics and business facilitation, while reaffirming Labuan Corporation’s commitment to facilitating investments and strategic partnerships.
The RM200 million financing initiative is expected to expand SMEs’ access to financing, strengthen industrial capacity and supply chains, create employment opportunities and enhance the investment attractiveness of Sabah and Labuan.
-- BERNAMA
Comments