Maybank to provide Perodua dealers and vendors RM400m in financial support, digital financial services –

Maybank and Perodua have signed a memorandum of collaboration (MoC) where the bank will provide seamless end-to-end integrated digital financial services to the carmaker’s supply chain via the M2e platform, as well as offer additional financial support worth close to RM400 million.

In the MoC, Maybank will offer “one-stop comprehensive banking and financing products and services access across the entire supply chain to Perodua, as well as its dealers and customers”.

It will cover all aspects of Perodua’s operations – from manufacturing, distribution, vendors, retailing and after-sales services. The collaboration will also include financial services such as Floor Stocking Facility, Direct and Blanket Hire Purchase, Credit Card Merchant facilities, Cash Management, Distributor-Supplier Financing package, MaxiPlan and Green/EV Financing.

The collaboration will see the Perodua Sales Operating System (PSOS) integrate with the M2e platform, which will enable the automation of stock purchase by dealers through the debiting of their Floor Stocking account, and to also simultaneously facilitate the auto-reconciliation of stock payment between Perodua and its dealers on a real-time basis.

“Maybank has always been cognisant on the vital role that end-to-end digitisation plays within the auto finance industry. As business processes are done online via Maybank’s M2e platform, it allows Perodua dealers to perform their businesses with agility, enhance operational efficiencies, save cost and at the same time to have an upper advantage within their marketplace,” said Datuk Hamirullah Boorhan, head of community financial services at Maybank Malaysia.

“With their banking and financing needs being taken care of by Maybank, we are confident that the dealers can then focus on business development and sales, leading to better overall profitability in line with our mission of Humanising Financial Services,” he added.

On additional financing packages for Perodua, Maybank will also be offering an immediate overdraft line of RM750,000 to cater to the short term financial needs of dealers on top of the generic Floor Stocking facility which is set at a minimum limit of RM1 million for each P2 dealer. To support upgrades to 3S outlets, Maybank will also offer workshop financing programmes which is set at a minimum of RM500,000 for each dealer, with the most affordable rates.

“These improved processes would have a multiplier effect to our sales operations, especially for our 148 authorised sales dealers throughout the country as the credit facility would allow for better cash flow in their operations. This will go a long way in improving delivery time to our customers, which we are currently trying to reduce,” said Perodua president and CEO Datuk Seri Zainal Abidin Ahmad.

Hamirullah said that Maybank wants to increase its market share of Perodua hire purchase financing to exceed 30% this year, from an average of 24% in 2022. “We also believe that our collaboration will be further intensified in the future as we work towards Perodua’s aspiration of realising their 2030 EV mission which is also in line with our M25+ strategy which is to become a leader of sustainability in the region,” he added.

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