Proton Dealers get Access to Financing from AmBank and Credit Guarantee Corporation

Proton Dealers get Access to Financing from AmBank and Credit Guarantee Corporation

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From left – Cheng Seng Fook, Marketing Director, PROTON, Liew Vee Lee, President, PROTON Edar Dealers’ Association Malaysia, Christopher Yap, Managing Director, Business Banking, AmBank Group, Voon Seng Chuan, Chairman, AmBank (M) Berhad, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Datuk Mohd Zamree Mohd Ishak, President / Chief Executive Officer, CGC, Gloria Pang, Chief Financial Officer, PROTON, Dato’ Agil Natt, Chairman, CGC and Leong Weng Choong, Chief Business Officer, CGC.

Kuala Lumpur, 18 January 2019 – Proton dealers now have access to financing via a strategic collaboration penned between Proton, AmBank and Credit Gurantee Corporation (CGC). Through this collaboration, Proton dealers will be able to apply for financing through CGC’s Portfolio Guarantee (PG) facility worth RM100 million. This amount is allocated exclusively for eligible Proton dealers to offer them assistance to upgrade their outlets to 3S or 4S centres.

The management of AmBank, CGC and Proton posing with the X70 SUV.
The management of AmBank, CGC and Proton posing with the X70 SUV.

The Portfolio Guarantee is offered by AmBank and CGC and is a term loan facility that can range in value from RM1 million to RM3 million, with 70% of the loan guaranteed by CGC. The guarantee fee will be absorbed by AmBank, and Proton dealers will be able to submit their applications from 18 January 2019 onwards for this financing to upgrade their outlets. Applications will be attended to on a first-come-first-served basis within the capped RM100 million allocation amount.

 

“We have seen positive growth in our collaborations with CGC in the past and are excited with the launch of this new facility which provides Proton dealers with exclusive financing. We value our long relationship with Proton and look forward to more collaborations with them in the future on payment and collection solutions,” said Datuk Sulaiman Mohd Tahir, Chief Executive Offiver of AmBank Group.

“CGC is honoured and proud to be part of this collaboration to support Proton, an important brand in Malaysia’s automotive industry,” said Datuk Mohd Zamree Mohd Ishak, CGC president and CEO.

Echoing his sentiments was Cheng Seng Fook, Director of Marketing for Proton Edar. “Last year, when Proton first embarked on the initiative to encourage our dealers to upgrade their outlet facilities to 3S/4S status, we were confident we could approve at least 109 proposals by the end of October. 2018. At the close of 2018, we actually achieved 117 which shows many grabbed the opportunity to revamp and upgrade their facilities. Currently we have a total of 73 outlets with 3S/4S status, making Proton the automotive brand with the most 3S/4S outlets in the country,” he said.

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