HRSB Holdings Receives RM132 Million of SME Bank Financing

HRSB Holdings Sdn. Bhd. (HRSB Holdings), a Malaysian Oil & Gas contractor company has received total financing amounting RM132 million from SME Bank for its working capital and purchase of assets purposes enabling HRSB Holdings to deliver the awarded contracts according to the schedule.

HRSB Holdings Group President, Dato’ Mohd Faizal bin Mohd Hassim said, “Through the funding and guidance provided by SME Bank, HRSB Holdings has succeeded in becoming the contractor of choice in the Oil & Gas industry in Malaysia, among others by PETRONAS. With an efficient workforce and complete facilities, HRSB Holdings is able to undertake three Turnaround (TA) projects simultaneously.”

SME Bank Group President/Chief Executive Officer, Dr. Aria Putera Ismail said, “The business relationship between SME Bank and HRSB Holdings initially started with the Bank’s Young Graduate Scheme financing in 2007. Looking at the results and positive performance shown by HRSB Holdings, the Bank continues to channel additional financing assistance through the SME Bank Contract Financing facility to support their business to grow to a higher level.”

“As an added value for our selected customers, HRSB Holdings has also been chosen to participate in a high-level entrepreneur development program known as SME Bank TITAN Program. TITAN Program participants will be guided to achieve the valuation of RM1 billion or equivalent to 500% CAGR (Compounded Annual Growth Rate) within five years,” commented Dr. Aria.

Dato' Faizal also added, "Looking at the long-term business objectives, apart from the Oil and Gas industry, HRSB Holdings has also diversified its services to include  Telecommunications, Information and Communication Technology (ICT), Consumer Product Manufacturing, Infrastructure and Construction sectors. This is in line with HRSB Holdings' goal to be registered as a public listed company (Berhad) on the Bursa Malaysia by 2024 and to achieve the group annual sales revenue of RM1 billion which is in line with the TITAN SME Bank Program goals.”

Among the large-scale and high-value contracts that HRSB Holdings has executed include the Master Services Agreement (MSA) for Integrated Main Mechanical Turnaround and Static Mechanical Maintenance (TA4MS) for PETRONAS and the engineering, procurement, construction and commissioning (EPCC) contract for the Effluent Management Project at Source (EMAS) project for Malaysian Refining Company Sdn. Bhd. (MRCSB).

HRSB Holdings has obtained the Integrated Management System (IMS) certification ISO 9001: 2015, ISO 14001: 2015 and ISO 45001: 2018; as well as in the midst of  digitalizing  the daily tasks and project operations management by adopting the use of   various soft wares with the objective of being more efficient.

The symbolic funding handover ceremony was made by Dr. Aria Putera Ismail, Group President/Chief Executive Officer SME Bank to Dato' Hj. Mohd Faizal bin Hj. Mohd Hashim, President of HRSB Holdings Sdn. Bhd.