Sands China Ltd has announced the launch of a financial support programme for local SME suppliers, aimed at helping them through the challenging business environment brought about by the COVID-19 pandemic.
The 2021 SME Expedited Payment Programme aims to help all of Sands China’s local SME suppliers, the company said, by allowing them to request having their payment shortened from the current 30 days to seven days. Once the application is approved and becomes effective, payment terms for new orders and contracts will be reduced to seven days throughout the duration of the programme.
It is the second time Sands China has offered advance payments and swifter invoice processing to SME suppliers, having previously done so in the aftermath of Typhoon Hato back in 2017.
“Over the past 17 years, Sands China has been forging ahead hand-in-hand with local businesses,” said Sands China President, Dr Wilfred Wong.
“Although the pandemic has hit Macau’s economy hard, especially its tourism industry, we have not forgotten our roots, and are as committed as ever to supporting local enterprises as part of our corporate social responsibility efforts.
“After bringing back the Sands Shopping Carnival for a second year, we are now launching this SME support programme – expected to involve up to MOP$350 million (US$44 million) – in an effort to address the operational and financial challenges facing local SME suppliers today. Come rain or shine, we will continue to walk alongside Macau’s local SMEs.”
Eligible SME partners can apply by email to SME_Info@sands.com.mo or eva.wong@sands.com.mo.
