(From left) RHB Bank Berhad Group Business and Transaction Banking head Datin Amy Ooi Swee Lian, Khairussaleh, Mohamed Khadar and group chief financial officer Chuah Eng Khoon at the signing ceremony.

RHB Bank Berhad has signed a partnership agreement with Sogo (KL) Department Store Sdn Bhd to provide the mall’s suppliers a convenient and seamless online platform for financing and payment solutions.

Under the RHB Financial Supply Chain (RHB FSC) scheme, RHB Bank will provide financing to KL Sogo’s suppliers, allowing them to have access to accelerated payment without having to put up any collateral

With the agreement, suppliers will be paid swiftly and can focus on strategic activities to improve their bottom line.

RHB Banking Group managing director Datuk Khairussaleh Ramli said this strategic partnership was in line with the bank’s commitment to help customers achieve their business goals.

“The RHB FSC is designed to ease the working capital needs of suppliers. Through this platform, KL Sogo and its suppliers will be able to strengthen their end-to-end supply chain,” he said, adding the facility for the scheme will begin at RM10mil and according to demand.

Complemented by RHB Reflex, an integrated web-based working capital platform, the RHB FSC will also facilitate payment invoices for KL Sogo while providing suppliers with full visibility of their receivables.

“We’re excited about this collaboration and trust that the robust RHB FSC platform will further enhance our ecosystem in providing efficient supply chain management.

“The RHB FSC will assist our suppliers to manage their cash flow better and lead to greater reliability and certainty of suppliers to Sogo,” said Sogo (KL) group chairman Datuk Mohamed Khadar Merican.

Through the FSC platform, suppliers can better manage their cash flow and inventory at reasonable cost, while enjoying a simple and seamless process, he added.
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