KUALA LUMPUR: UOB Malaysia has announced a tie-up with Petronas Dagangan Bhd
(PetDag) and its unit, PETRONAS Lubricants Marketing (M) Sdn Bhd, to provide end-to-end financing to about 1,000 dealers and distributors.
The bank said in a statement the UOB Dealer and Distributor Financing 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.
“Through UOB’s innovative and comprehensive solutions, we have the capabilities to support the financial needs of PetDag and PETRONAS Lubricants’ entire value chain.
“We are steadfast in opening new opportunities and connecting companies to grow within and across the region,” said UOB Malaysia managing director and country head of wholesale banking Andy Cheah.
PetDag chief operating officer Khalil Jaffri Muhammad Muri, said: “We are excited to partner with UOB Malaysia, leveraging its financial expertise to provide financial stability and security to our network of dealers and distributors.
“We believe 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.”
