Kuala Lumpur, 18 January 2019 – Proton dealers were given access to financing today via a strategic collaboration penned between PROTON, AmBank and Credit Gurantee Corporation (CGC). The dealers will be provided financing via CGC’s Portfolio Guarantee (PG) facility worth RM100 million, which has been earmarked exclusively for eligible Proton dealers to assist them in upgrading their existing outlets to 3S and 4S centres.
Term loan facility applications accepted immediately
The Portfolio Guarantee offered by AmBank and CGC is a term loan facility ranging in value from RM1 million to RM3 million with 70% of the loan guaranteed by CGC. The guarantee fee is to be absorbed by AmBank and Proton dealers will be able to submit their applications from 18 January 2019 onwards. All 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.