UOB Dealer and Distributor Financing Programme aims to benefit more than 1,000 local retailers KUALA LUMPUR, Malaysia, Aug 9 (Bernama) -- UOB Malaysia today announced a strategic partnership with PETRONAS Dagangan Berhad and its subsidiary, PETRONAS Lubricants Marketing (Malaysia) Sdn Bhd. Through the UOB Dealer and Distributor Financing Programme, the collaboration aims to power the supply chain ecosystem for dealers and distributors under PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia) by providing end-to-end financing to more than 1,000 local retailers.
The Programme is designed to provide access to greater funding for dealers and distributors within the ecosystem. It offers working capital and capital expenditure financing, as well as bank guarantees and cash management solutions to expand their dealership and retail outlet operations nationwide.
Mr Andy Cheah, Managing Director and Country Head of Wholesale Banking, UOB Malaysia, said, “As part of our longstanding commitment to PETRONAS, we are pleased to support its subsidiaries in strengthening the robustness of their supply chain management. Through UOB’s innovative and comprehensive solutions, we have the capabilities to support the financial needs of PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia)’s entire value chain. We are steadfast in opening new opportunities and connecting companies to grow within and across the region.”
Mr Khalil Jaffri Muhammad Muri, Chief Operating Officer, PETRONAS Dagangan Berhad, added, “We are excited to partner with UOB Malaysia, leveraging their financial expertise to provide financial stability and security to our network of dealers and distributors. We believe that this collaboration will not only strengthen our partners' businesses but also enhance the overall customer experience, ensuring simpler and better access to our suite of offerings.”
In addition, PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia)’s dealers and distributors under this Programme will benefit from UOB Malaysia’s financial supply chain management (FSCM) and suite of ecosystem-based solutions. Through UOB Malaysia’s cash management capabilities and its digital banking platform - UOB Infinity
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, PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia)’s dealers and distributors will also be equipped with end-to-end visibility and automation of their entire financial supply chain.
Mr Lucas Chew, Executive Director and Country Head of Transaction Banking, UOB Malaysia said, “Our solutions are targeted to address the pain points of businesses and its ecosystem whom by themselves, may face challenges to obtain the much-needed financial support and cash management to expand their operations. We established the UOB Vendor Financing Programme in 2019 by collaborating with PETRONAS to provide financing for their upstream value chain. We are now pleased to extend the same support to their downstream value chain by establishing the UOB Dealer and Distributor Financing Programme to further benefit the PETRONAS ecosystem in the country.”
About UOB Malaysia UOB Malaysia is rated among the top banks in Malaysia with a long-term AAA rating from Ratings Agency of Malaysia. It has over seven decades of presence in the country, and operates 55 branches nationwide, offering both conventional and Islamic banking services to its customers.
UOB Malaysia is a subsidiary of UOB, a leading bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe, and North America. UOB has adopted a customer-centric approach to creating long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
For further information, please visit
www.uob.com.my.
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On 10 August 2022, UOB Malaysia launched UOB Infinity to transform the digital banking experience for its corporate clients.SOURCE: UOB Malaysia
FOR MORE INFORMATION, PLEASE CONTACT:Name: Nizam Arop
Brand, Media and Communications
Tel: 603- 2638 6304/ 6017-333 6329
Email: nizam.arop@uob.com.my
Name: Sharie Elina Ibrahim
Brand, Media and Communications
Tel: 603-2638 6589/ 6012-682 6300
Email: sharie.elina@uob.com.my
--BERNAMA 
