Co-opbank Pertama Malaysia Bhd (CBP) signed a memorandum of understanding (MoU) with Media Prima Omnia Sdn Bhd (Omnia) under the CBP-Omnia Media Agreement programme yesterday to facilitate funds for small and medium enterprises (SMEs).
The MoU aims to increase access of new SME customers to CBP, open up opportunities for CBP financing and allow SME customers advertise their products and services through the media platform provided by Omnia.
“CBP is confident that through this cooperation, it can increase the production of financing of our cooperative and corporate sector, and it can also help borrowers market products and services directly to their target customers through advertising on the Media Prima platform,” CBP chairman Kamari Zaman Juhari told reporters after the MoU signing in Kuala Lumpur yesterday.
Through this collaboration, all customers of CBP’s cooperative and corporate financing sector will be offered an advertising package by Omnia at an affordable price as low as RM1,000.
Kamari said it is a win-win situation for both parties and that CBP is able to penetrate new markets more widely and quickly, as well as enjoy all types of media marketing from Omnia.
“On the part of the customers, they get access to information, which is very important because some of the groups we have targeted have no access to such information, so we would like to direct those products to them,” he said.
Through this collaboration, a portion of the percentage of customer financing will be allocated for the advertising expenses.
He further explained that if a customer were to request for a RM20,000 and RM50,000 loan, around RM1,000 and RM3,000 respectively from the loan will be used for advertising.
The agreement is for a period of one year, beginning Nov 1, 2020, until Oct 31, 2021.
Omnia CEO Datuk Michael Chan said it wants to offer CBP customers the best media products from Media Prima to grow their business as well as increase Omnia’s SME customers.
“Omnia has a particular focus on the customers that CBP are targeting as we are No 1 in the mass Malay market and we are also here to support SMEs during this Covid-19 outbreak,” he said.
On the loan moratorium which CBP offers to its customers, Kamari said 58,000 accounts have benefit- ted from the moratorium recently and that the amount involved is RM3.8 billion.
Source: https://themalaysianreserve.com/2020/12/03/co-opbank-pertama-partners-media-prima-omnia-to-finance-smes/