Six local banks offering special loans and credit to Sands China’s local SME suppliers
(Macao, July 15, 2019) – Sands China Ltd. has launched a special financing programme for its local SME suppliers, in cooperation with six local banks.
The new programme is part of Sands China’s F.I.T. initiative launched in April 2017, which offers Financial Support, Invitational Matching, and Training and Development to local SME suppliers, targeted at three types of local businesses: local small, medium and micro suppliers; “Made in Macao” companies and Macao young entrepreneurs.
Through the Sands China SME Financial Support Programme, six local banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China: Bank of China Macau Branch, ICBC Macau Branch, Bank of Communications Macau Branch, China Construction Bank Macau Branch, OCBC Wing Hang, and BNU. The goal is to support the development of local SMEs through faster, easier and more favourable bank financing loan products.
The six banks have tailor made this financing programme for Sands China’s suppliers, and it is the first time they are accepting contracts and purchase orders as a form of guarantee – a reflection of Sands China’s reliability and robustness.
“Sands China is very pleased to be the first integrated resort operator in Macao to present this new financing programme for our local SME suppliers,” said Dr. Wilfred Wong, president of Sands China Ltd. “It is important for our company’s growth to go hand-in-hand with the growth of local businesses, and this latest initiative is part of Sands China’s ongoing and long-term commitment to supporting local SME suppliers. We want our presence in the marketplace to provide opportunities for smaller companies in Macao to benefit from the business opportunities that are created as a result.”
F.I.T. is a component of Sands China’s Local Small, Medium and Micro Suppliers Support Programme. The programme is in line with the Macao government’s push to “buy local,” and demonstrates Sands China’s commitment to supporting local enterprises as part of the company’s corporate social responsibility efforts. It is an element of Sands China’s supplier relationship management strategy, which guides the company’s long-standing effort to support local suppliers, whom it views as its strategic partners.
Photo caption: Sands China Ltd. has launched a special financing programme for its local SME suppliers in cooperation with six local banks: Bank of China Macau Branch, ICBC Macau Branch, Bank of Communications Macau Branch, China Construction Bank Macau Branch, OCBC Wing Hang, and BNU. The banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China, with a goal to support the development of local SMEs through faster, easier and more favourable bank financing loan products.
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About Sands China Ltd.
Sands China Ltd. (HKEx: 1928, Sands China or the Company) is a Cayman Islands registered company and is listed on The Stock Exchange of Hong Kong Limited. Sands China is the largest operator of integrated resorts in Macao. The Company’s integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, Sands® Cotai Central and The Parisian Macao – with The Londoner Macao to be reintroduced as The Londoner Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company’s portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at the Cotai Arena, The Venetian Theatre, The Parisian Theatre, the Sands Cotai Theatre and the Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company’s Cotai Strip portfolio has the goal of contributing to Macao’s transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
