Orpheus Capital Sdn Bhd has signed an agreement with food manufacturing company, RS Unggul Sdn Bhd to enter into an Islamic factoring term sheet together.
The technology driven company said in a statement the aim will be to scale up RS Unggul’s agricultural and food projects especially to the cooperatives in Malaysia.
Orpheus Capital CEO Hamudi A Khalid said he was hopeful the partnership will assist small agricultural planters by raising their standards of living.
“In this respect, we are eager to extend our Syariah factoring facilities and continue with our development work in the small and medium-sized enterprises (SME) sector, especially on the critical,” he said.
Hamudi added the facility will take on an important role, to improve access to affordable agriculture goods while helping local planters get better prices for products.
“The developmental impact of our products and services are integral part of our DNA and with this factoring facility support, RS Unggul can create several decent jobs as well as improve the cash flows for the SME’s, especially ones that are un-bankable, undeserved and unserved,” he said.
Orpheus Capital will further contribute by ensuring the SME enterprises partnering with them will have quick access to cash flow financing at reasonable cost.
“This will be one of the ways from our various endeavours we plan to undertake to serve as a catalyst in promoting the participation and success of the various SME enterprises in our current economic climate,” he said.
Meanwhile, RS Unggul CEO Shaharani Saood said he looks forward to leveraging on each other’s expertise and experience from the partnership.
“By providing the critical funding we require, and helping us adopt digitalisation, this helps us to execute a crucial project abd signifies the trust that Orpheus Capital has with us.”
“This partnership will provide an exciting opportunity for us to further strengthen our capacity in developing our local and small agriculture players particularly those in smaller towns and villages,” Shaharani said.
Source: https://themalaysianreserve.com/2020/12/17/orpheus-capital-inks-agreement-with-rs-unggul-for-agricultural-food-projects/