KUALA LUMPUR: Kuala Lumpur City Hall (DBKL) is partnering with CIMB Bank Bhd in a three-year initiative to drive activity through event-led commerce, with monthly programmes starting in May, in a bid to stimulate street-level economic activity in Kuala Lumpur.
Under the Moving KL Forward – Kita Bagi Jadi Bersama DBKL x CIMB initiative, CIMB is committing RM5 million over three years to support programmes that leverage public spaces and large-scale events as platforms for economic activity, particularly for MSMEs and the creative sector.
Federal Territories Minister Hannah Yeoh said the collaboration will combine events, cultural programmes and digital payment incentives to drive demand for small businesses while encouraging digital adoption.
“Under the initiative, DBKL will coordinate programmes across key pillars including culture, wellness, civic-mindedness and commerce, with flagship events such as the Festival Orkestra Kuala Lumpur, Ambang Merdeka Concert and KUL Design Festival expected to draw significant crowds and generate spending,” she said at the signing of a memorandum of collaboration (MoC) between DBKL and CIMB today.
The MoC was signed by CIMB Group CEO Novan Amirudin and Kuala Lumpur Mayor Datuk Seri Fadlun Mak Ujud, and witnessed by Yeoh and CIMB Group chairman Datuk Syed Zaid Albar.
Yeoh said the collaboration is part of a broader push by the government to work with private sector players to address urban challenges and stimulate economic activity through targeted initiatives.
“As long as people attend the programmes and enjoy themselves, we believe we are achieving our objective of making Kuala Lumpur more vibrant. The outcomes will depend on participation levels and the ability of SMEs to convert event-driven demand into sustained income.”
The initiative currently has no defined performance targets, with success instead gauged by participation and public response.
Yeoh pointed to other programmes including partnerships with other companies such as ZUS Coffee and Carsome, as examples of how different players are contributing to city-level improvements.
“As the government, we acknowledge that financial resources are limited. We cannot do everything on our own, which is why partnerships with the private sector are critical,” she said.
Yeoh said these programmes should be seen as part of a wider ecosystem of experimentation, where different programmes cater to different segments of the public.
“It is better to move forward, even if imperfectly, than to do nothing. Different groups have different needs, not everyone will attend concerts or participate in every programme, but these initiatives are about creating options and improving the city over time.”
Fadlun said the collaboration brings together both parties to create economic opportunities at the community level. “This collaboration will help provide opportunities for local talents and entrepreneurs to grow while creating a more vibrant and economically inclusive city.”
The programme includes events such as the Festival Orkestra Kuala Lumpur, Ambang Merdeka Concert, Rockestra Legenda and KUL Design Festival, which are expected to attract more than 100,000 attendees annually.
The approach builds on CIMB’s earlier OCTO Fest activations during Chinese New Year and Ramadan, where 360 vendors generated about RM17 million in sales, showing how concentrated footfall can translate into income for small businesses.
Novan said the partnership reflects the bank’s role in facilitating transactions and supporting broader economic activity.
“As a bank deeply rooted in Malaysia, we enable businesses to grow, facilitate transactions and support the development of local ecosystems for sustainable economic participation. Through this collaboration with DBKL, we aim to unlock opportunities for businesses and elevate local creative talent,” he said.
The collaboration will focus on two main areas: enabling MSMEs to adopt digital tools such as OCTO and OCTOBiz through cashback and rebate incentives, and activating the creative economy through events, festivals and public art initiatives.
Beyond this collaboration, CIMB said it continues to support economic participation nationwide through targeted programmes.
The bank has pledged RM3.6 million to support 9,000 residents across Projek Perumahan Rakyat under the Santuni Madani initiative, alongside programmes such as iTEKAD and Komuniti Tukang Jahit aimed at improving income generation and financial resilience.
