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BAIDURI BANK AND BRUNEI SHELL PETROLEUM SIGN AGREEMENT TO LAUNCH BSP EMPLOYEE HOME OWNERSHIP SCHEME
29 June 2004

Baiduri Bank today concluded an agreement with Brunei Shell Petroleum Co. Sdn Bhd. (BSP) to launch the new BSP Employee Home Ownership Financing Scheme, giving the opportunity for BSP employees to acquire their own houses while in the Company’s employment.

Under the scheme, loans are provided to eligible BSP employees for the purpose of purchasing existing house, building of a house on land already owned and purchasing of land and building of house on it.

To home buyers, the scheme offers attractive benefits such as low interest and long repayment period. In addition, successful applicants are given the chance to top up their loans or take out a second loan after the original one has been fully repaid to finance improvements of their existing property or to purchase a new property.

This strategic partnership evidently upholds the bank’s priority in financing property investments, in particular home ownership. It also enables the bank to deepen its involvement in the local mortgage market. In providing such long-term financing, home ownership becomes more affordable, especially for first-time buyers.

Baiduri Bank and Brunei Shell Petroleum formalised the signing ceremony at the Oil and Gas Discovery Centre (OGDC) in Seria. Signing on behalf of Baiduri Bank was Mr Pierre Imhof, its General Manager while Brunei Shell Petroleum was represented by Hj Zainal Abidin bin Hj Mohd Ali, Deputy Managing Director of Brunei Shell Petroleum.

Witnessing the signing of agreement was Mr Ti Eng Hui, Deputy General Manager Retail Banking and Branch Network for Baiduri Bank, and Haji Amit bin Haji Abdul Razak, Head of Human Resource Relations and Services for Brunei Shell Petroleum.

Also present at the signing ceremony were senior managers from the Retail Banking division of Baiduri Bank, and senior managers from Human Resources, Finance, Legal and Public Affairs departments of Brunei Shell Petroleum.

 
 
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