Corporate Bits: Melco pledges new 14-day fast track payment initiative to support SMEs

As part of Melco Resorts & Entertainment’s “longstanding commitment to supporting Small & Medium Enterprises for the sustainable and diversified development of Macau,” the gaming operator has launched this week a new fast track payment initiative, a note from the company states.

Under the Express Payment Scheme, all eligible local SME vendors will be paid within 14 days of receipt of deliverables. According to Melco, the initiative’s objectives are twofold – firstly, to offer the company’s full support in helping ease local SME cash flow pressures, and secondly, to work closely with local SMEs “to overcome challenges and difficulties of these unprecedented times.”

“We hear, understand and appreciate the present needs of local SME vendors and pledge to stand by their side as we weather through these never-before-encountered times of challenge. We are confident Melco’s fast track payment initiative, together with the programs and activities available at the recently relaunched Melco SME Academy, will help alleviate liquidity pressures of our local SME partners and better prepare SMEs with targeted, technical knowledge to help strengthen them to overcome the challenges of today for a better tomorrow,” Clarence Chung, board director of Melco Resorts & Entertainment said in the statement.

The initiative is now effective.