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March 29, 2024 -Friday

 
  AMBANK AND CGC FORM STRATEGIC COLLABORATION WITH PROTON IN PROVIDING FINANCING ACCESS VIA PORTFOLIO GUARANTEE

Friday 18/01/2019



RM100 million allocated exclusively for Proton dealers
 
KUALA LUMPUR, Jan 18 (Bernama) -- AmBank and CGC penned a strategic collaboration with PROTON in providing its dealers with financing access via CGC’s Portfolio Guarantee (PG) worth RM100 million offered exclusively to eligible Proton dealers to facilitate them in upgrading their facility to 3S (sales, services and spare parts) and 4S (including body and paint) centres.
 
“The ceremony today celebrates the on-going strategic collaboration between AmBank and CGC. We have seen positive growth in our collaborations with CGC in the past and excited with the launch of this new Portfolio Guarantee which provides Proton dealers with exclusive financing. We value our long relationship with Proton and look forward to more collaborations with them in future on payment and collection solutions,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
 
The new PG offered by AmBank and CGC is a term loan facility ranging from RM1 million to RM3 million, with 70% of the loan guaranteed by CGC, and guarantee fee absorbed by AmBank. Dealers may submit their applications from 18 January 2019 onwards and will be attended to based on a first-come-first-served basis within the capped RM100 million allocation.
 
CGC President/CEO Datuk Mohd Zamree Mohd Ishak in his speech said: “Today’s event is very significant to both AmBank and CGC as this special PG will provide financial access for Proton car dealers to upgrade their facility to 3S & 4S centers. CGC is indeed honoured and proud to be part of this landmark collaboration to support Proton, an important brand in Malaysia’s automotive industry.”
 
Present at the ceremony were Voon Seng Chuan, Chairman, AmBank (M) Berhad, Dato’ Agil Natt, Chairman, CGC, Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group, Datuk Mohd Zamree Mohd Ishak, President / Chief Executive Officer, CGC, Christopher Yap, Managing Director, Business Banking, AmBank Group, Cheng Seng Fook, Marketing Director, Proton Edar Sdn Bhd and Liew Vee Lee, President, Proton Edar Dealers’ Association Malaysia along with the Senior Management of AmBank Group, CGC and PROTON.
 
 
About AmBank Group
 
AMMB Holdings Berhad is the holding company of AmBank Group and has been listed on the Main Market of Bursa Malaysia since 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM11.6 billion and assets of RM137.9 billion at 31 March 2018.
 
AmBank Group is one of Malaysia’s premier financial solutions groups with over 43 years of experience in supporting Malaysians in their economic development. AmBank Group offers a wide range of both conventional and Islamic financial solutions and services, including wholesale banking, retail banking, investment banking, underwriting of general insurance, life assurance and takaful, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.
 
The Australia and New Zealand Banking Group (ANZ) is the biggest shareholder in the AmBank Group with a 23.8% holding and provides support with Board and senior management representation, risk and financial governance, product offerings and new business developments. In the general insurance business, the Group has partnered with Insurance Australia Group Ltd (IAG). In the life assurance and family takaful businesses, the Group has a partnership with MetLife International Holdings Inc (MetLife). The Group benefits in terms of expertise transfer from IAG and MetLife.
 
For more information, please visit www.ambankgroup.com
 
ABOUT CGC

Credit Guarantee Corporation Malaysia Berhad (CGC) was established on 5 July 1972.  It is 78.65% owned by Bank Negara Malaysia and 21.35% by the commercial banks in Malaysia. CGC aims to assist SMEs with inadequate or without collateral and track record to obtain credit facilities from financial institutions by providing guarantee cover on such facilities. CGC has availed over 460,000 guarantees and financing to SMEs valued over RM70 billion since its establishment.

In addition, CGC provides credit information and credit rating services through its subsidiary Credit Bureau Malaysia. The Bureau enables CGC to assist SMEs build credit history and track record to enhance their credibility and bankability.  Through this, the SMEs will be able to secure financing on their own merit and at reasonable cost. February 2018, CGC introduced imSME, Malaysia’s first online SME financing/loan referral platform.  imSME serves as an alternative channel for SMEs to find financing products. At different stages of their business developments, SMEs will be guided to legitimate and authorised channels to source for their business financing needs.

CGC also manages the Green Technology Financing Scheme (GTFS) and the Bumiputera Entrepreneur Project Fund (TPUB-i) with a total allocation of RM3.5 billion and RM300 million respectively. To date, CGC managed a total of 45 guarantee and financing schemes including 16 government-backed schemes. Currently, seventeen (17) Commercial Banks, fifteen (15) Islamic Banks, and seven (7) Development Financial Institutions (DFIs) are participating in CGC’s guarantee schemes in providing financing to customers through a wide network of more than 2,600 branches nationwide. SMEs interested to obtain more information are encouraged to call CGC’s Client Service Centre at 03-7880-0088, email cgc@cgc.com.my or visit us at www.cgc.com.my | FB: @CGCmy | Instagram: cgcmalaysia

Source: AmBank Group

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Syed Anuar Syed Ali
Executive Vice President
Group Corporate Communications and Marketing
AmBank Group 
Tel: 03-2036 1703
Email at sasa@ambankgroup.com   

Name: Mohana Arumugam
Vice President, Corporate Communications, CGC
Tel: +6017-237-6366 
Email: mohana.arumugam@cgc.com.my 

Name: Kamalavacini Ramanathan
Head, PR & Media Liaison, CGC  
Tel: +6010-225-1073   
Email: kamalavacini@cgc.com.my

--BERNAMA

 
 
 

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