Kuala lumpur: Taiwan’s Far Eastern New Century Group (FENC), through its wholly-owned subsidiary FE Green PET (M) Sdn Bhd, has secured RM150 million in green and sustainability-linked financing from HSBC Bank Malaysia Bhd. This financing aims to facilitate the expansion of FE Green PET’s recycled polyethylene terephthalate (rPET) resin production plant in Melaka, supporting both the construction phase and its post-commercial operations.

According to BERNAMA News Agency, this financing marks FENC’s global entry into green and sustainability-linked financing. The Melaka plant is set to produce 50,000 metric tonnes of rPET from post-consumer recycled content each year. This investment underscores the growing trend of Taiwanese companies investing in Malaysia amidst shifts in the supply chain. It also aligns with Melaka’s Industrial Booster initiative, contributing to the state’s vision of becoming a green economy hub with strong infrastructure for global trade.

HSBC Malaysia’s head of global trade solutions, Shreyas Krishna, emphasized that the collaboration between FE Green PET and HSBC represents progress towards a more sustainable future. This partnership fosters a circular economy and responsible manufacturing practices. By leveraging HSBC’s international network, the collaboration connects clients with opportunities in sustainable finance through cross-border efforts involving offices in both Malaysia and Taiwan.