Export-Import Bank of Malaysia (EXIM Bank Malaysia) has extended financial support to Ignis Environment Initiatives Sdn Bhd for an innovative waste management project in Sabah.

The initiative involves the deployment of a new patented Malaysian technology aimed at reducing waste volume, contributing to recycling efforts, and promoting sustainable environmental practices.

The 3R (Reduce, Reuse, Recycle) rehabilitation technology will be implemented at the Sandakan Municipal Council's (MPS) landfill, marking a significant advancement in waste management infrastructure.

The agreement signed today between EXIM Bank Malaysia and Ignis Environment Initiatives Sdn Bhd follows the signing of a concession agreement between Ignis SG (Sabah) Sdn Bhd and MPS, marking a crucial step towards innovative waste management solutions in Sabah.

The collaboration is expected to bring about significant improvements in waste reduction and recycling efforts in Sandakan.

EXIM Bank Malaysia Chief Strategy Officer Dr Liza Mydin said: "Innovative approaches to waste management are essential for addressing the environmental challenges we face today. The solution provided by Ignis is poised to create a substantial positive impact on the community and the environment, and we are committed to supporting initiatives that are advancing sustainable solutions for a greener future."

In attendance were Deputy Chief Minister II and Local Government and Housing Minister Datuk Seri Dr. Joachim Gunsalam, Alan Tan Yean Keat, Executive Chairman of Ignis SG (Sabah) Sdn Bhd, who signed the agreement, with CEO Tee Hong Wee as a witness, while Dr Liza and Sarevenan Moorthi, Head of Regional Office represented the Bank and MPS President Henry Idol represented the council.

EXIM Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures. EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services.

IGNIS Environment Initiatives Sdn Bhd, underlined two cores success principles: Leadership and Teamwork has prevailed since it was established in August 1998 as Quan Cheng Hardware. The company's core business is in the collection of industrial scrap materials, providing added value and reselling to local steel mills or overseas customers.