KUALA LUMPUR (Jan 18): Malayan Banking Bhd (Maybank) and Perodua Sdn Bhd have signed a memorandum of collaboration (MOC) for the provision of seamless end-to-end integrated digital financial services to Perodua via Maybank’s M2e platform.

The bank will also offer additional financial support via financing packages worth close to RM400 million to help further expand Perodua’s business.

In the MOC, Maybank via its M2e platform will offer a one-stop comprehensive banking and financing products and services access across the entire supply chain to Perodua, as well as its dealers and customers in Malaysia. This would cover all aspects of Perodua’s operations, from manufacturing, distribution and vendor retail, to after-sales services. 

The collaboration will cover financial services such as floor-stocking facility, direct and blanket hire purchase, credit card merchant facilities, and cash management.

An added benefit of the partnership is on the system integration between the Perodua sales operating system (PSOS) and the M2e platform, which enables the automation of stock purchase by dealers and also simultaneously facilitate the auto-reconciliation of stock payment between Perodua and its dealers on a real-time basis.

“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,” Maybank head of community financial services Datuk Hamirullah Boorhan said in a joint statement.

“We are targeting to increase our market share of Perodua’s hire purchase financing to exceed 30% in 2023, from the average of 24% achieved in the previous year,” he added.

Perodua president and chief executive officer Datuk Seri Zainal Abidin Ahmad said the collaboration provides a more efficient financing facility for floor-stocking for Perodua’s sales operations and retail hire purchase for its customers.

“Maybank is in a strong position to support the growth and development of the automotive sector across the entire industry value chain with its extensive banking, financing and insurance solutions,” he said.