In a strategic tie up for capital financing, AmBank Group today signed a Memorandum of Understanding with Naza Quest, the sole distributor of Chevrolet cars in Malaysia, to become the official financing provider for capital financing for Chevrolet dealers in Malaysia.
This comprises of capital expenditure and working capital financing for the authorised Chevrolet Dealers. AmBank will also provide floor stocking and floor plan facilities to facilitate inventory and sales management as well as stocktaking arrangements between Naza Quest and its authorised dealers.
This financing package will be exclusively made available to potential authorised Chevrolet dealers and will be tailored to the eligible and qualified dealers as part of a strategic collaboration between AmBank Group and Naza Quest. The purpose of this facility is to bridge the financial gaps of the potential dealers.
Representing AmBank (M) Berhad at the Memorandum of Understanding (MoU) signing ceremony was Datuk Mohamed Azmi Mahmood, Managing Director, Retail Banking, AmBank (M) Berhad while Naza Quest was represented by Naza Group of Companies Joint Executive Chairman and Chief Executive Officer Dato’ Haji SM Faisal Tan Sri SM Nasimuddin.
“As one of the leading auto financiers in the country, this collaboration with Naza Quest marks another milestone for us in the auto industry. Our partnership with Naza Quest clearly indicates AmBank’s support towards the growth of auto dealerships in the country, this time with Chevrolet cars,” said Datuk Mohamed Azmi Mahmood, Managing Director, Retail Banking, AmBank (M) Berhad.
“Today’s signing is also significant as it involves financing dealers, Chevrolet’s dealers in particular, from one spectrum to the other, from cradle to grave, right from working capital financing up to end-financing for the car purchasers,” added Datuk Mohamed Azmi.
NAZA Group of Companies Joint Group Executive Chairman Dato’ Hj SM Faisal Tan Sri SM Nasimuddin described the signing as a significant step in ensuring the Chevrolet brand’s continued growth, and a further boost to the brand’s dealers.
“AmBank’s confidence and commitment to both the NAZA Group and the Chevrolet brand injects a stronger drive for us to grow this business. It would also give our dealers the confidence that an equally big conglomerate is backing them,” he said.
He added that this collaboration would pave way for more strategic tie-ups between both parties; AmBank Group and the Naza Group, who are both leaders in their respective industries, moving forward.
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Jay WM Wong Editor
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