Ambank to provide financing for Chevrolet dealers
Naza Quest Sdn Bhd, the official distributor of Chevrolet cars in Malaysia, today signed a Memorandum of Understanding with the AmBank Group for a deal which sees the said banking group become the official financing provider for Chevrolet dealers in Malaysia.
As part of the deal, AmBank will be offering exclusive financing packages for Chevrolet dealers in capital expenditure and working capital financing. In addition, AmBank will also be providing floor stocking and floor plan facilities to help management of inventory, sales as well as stock-taking for the various authorized dealers.
Representing AmBank (M) Bhd was the Managing Director of its Retail Banking section, Datuk Mohamed Azmi Mahmood, while Naza Quest was represented by Dato’ Hj SM Faisal Tan Sri SM Nasimuddin, Joint Executive Chairman and CEO of Naza Group of Companies.
“As on of the leading auto financiers in the country, this collaboration with Naza Quest marks another milestone for us in the auto industry. Our partnership with Naza Quest clearly indicates AmBank’s support towards the growth of auto dealerships in the country, this time with Chevrolet cars,” said Datuk Mohamed Azmi.
“Today’s signing is also significant as it involves financing dealers, Chevrolet’s dealers in particular, from one spectrum to the other, from cradle to grave, right from working capital financing up to end-financing for the car purchasers,” he added.
Dato’ SM Faisal, meanwhile, noted that the tie-up with AmBank represented a significant step in his company’s efforts to ensure the Chevrolet’s brand’s continuous growth in Malaysia.
Acknowledging the brand’s tumultuous history, and the resulting decline in consumer confidence towards it, Dato’ Faisal said, “AmBank’s confidence and commitment to both the Naza Group and the Chevrolet brand injects a stronger drive for us to grow this business. It would also give our dealers the confidence that an equally big conglomerate is backing them.”
