KUALA LUMPUR (Jan 26): Maxis Bhd and Public Bank Bhd have formalised a collaboration through a Memorandum of Understanding (MOU) to jointly promote digital adoption among Malaysian small and medium enterprises (SMEs), paving the way for them to access digital solutions and financial assistance for implementation.

In a joint statement on Friday, Public Bank managing director and chief executive officer Datuk Tay Ah Lek said the collaboration will see Malaysian SMEs getting top-notch financial and technology support.

“We believe that by combining our financial expertise with Maxis’ technological prowess, we can make a meaningful impact on the digital transformation of Malaysian SMEs, enabling them to thrive and contribute to the nation’s economic growth,” he said

“Together, Public Bank and Maxis are dedicated to supporting business on their path to success, leveraging the best of banking and technology,” he added.

Meanwhile, Maxis chief executive officer Goh Seow Eng said the telecommunications firm and Public Bank share a commitment to support SMEs. 

"As an integrated telco, Maxis Business is the trusted partner for enterprises of all sizes. We want to make it easy for SMEs to digitalise, so they can focus on growing their business. Through this collaboration, we look forward to together drive the nation’s SME digital transformation," said Goh.

Both companies will jointly engage their customers through various on-ground and online activities to maximise the collaboration’s impact, including awareness talks at Public Bank’s branches.

Additionally, Maxis Business will join Public Bank’s PB enterprise Digital SME Assist Programme as the official telco and digital partner, allowing the bank's SME customers to access various Maxis services like internet, payments, e-commerce, cloud and cybersecurity.

Maxis Business will also help Public Bank’s SME customers apply for the government’s Geran Digital PMKS Madani grant and explore additional financial solutions from Public Bank.

At the time of writing, Maxis shares were down one sen or 0.26% at RM3.81, for a market capitalisation of RM29.76 billion, while Public Bank shares were up one sen or 0.23% at RM4.38, valuing it at RM85.02 billion.