“This sustainability-linked financing from UOB is a key step in our sustainability journey and a clear demonstration of our commitment to be a responsible member of the community, together with our customers, suppliers, as well as our other stakeholders,” says Sidney Chew, managing director of Megachem.
Specialty chemical solutions provider Megachem has secured its first sustainability-linked financing from United Overseas Bank (UOB).
According to Megachem, UOB will offer the company a trade financing facility of US$10 million ($14.4 million). The facility comes with pre-determined sustainability performance targets, pegged to ratings by international sustainability rating agency, EcoVadis.
