Tag: Financing Solutions

Kuala Lumpur, Malaysia – CARSOME Group and the Japan Consumer Credit Service (JACCS), which is also a member of the Mitsubishi UFJ Financial Group, have announced a strategic partnership via CARSOME Capital, the financing arm of CARSOME. 

The partnership will combine JACCS’ longstanding expertise and international resources with CARSOME Capital’s ecosystem and local know-how, in order to introduce tailored financing solutions in Malaysia, with an emphasis on under-served segments.

As part of this strategic partnership, JACCS will invest into CARSOME Capital and will own a 49% stake. CARSOME Group will continue to hold a majority 51% stake.

The partnership will also facilitate knowledge transfer to optimise risk assessments, enhance credit governance, and implement best practices that strengthen financial sustainability and portfolio performance.

Eric Cheng, co-founder and CEO at CARSOME Group, said, “CARSOME is honored to partner with JACCS, a global consumer finance company, as they mark their strategic entry into Malaysia through our partnership. By combining JACCS’s extensive expertise with CARSOME’s ecosystem, we aim to redefine the mobility financing experience, empowering communities and driving economic growth across the region.”

Meanwhile, Nicholas Wong, managing director at CARSOME Capital Malaysia, commented, “This collaboration allows us to continue serving unserved and underserved markets here in Malaysia, a segment that has always been at the heart of what we do. We are excited to work with JACCS to introduce additional capabilities and technologies, such as AI-driven credit assessments, to expand access to financing to dealers who purchase wholesale inventory from us to sustain their business, as well as end-customers who put their trust in our vehicles.”

Lastly, Ryo Murakami, president and representative director at JACCS, stated, “We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited about the long-term growth potential in this region. We believe CARSOME is an ideal partner for us with the potential to drive growth and transformation in the region, starting with Malaysia, and then to other Southeast Asian markets. Our investment in CARSOME Capital underscores our confidence in this partnership and our commitment to creating long-term value in the automotive financing industry.”

Kuala Lumpur, Malaysia – Funding Societies has expanded its partnership with foodpanda to introduce tailored financing opportunities for Bumiputera merchants in Malaysia.

Under this initiative, foodpanda merchants who meet the eligibility criteria can access financing of up to MYR100k (US$22,207). The program offers an attractive annual interest rate of 2% and a flexible repayment period of up to 24 months.

This exclusive financing program is designed to provide local entrepreneurs with the resources needed to expand their businesses in a challenging economic landscape. The partnership builds on the success of previous initiatives, which have supported 500 foodpanda merchants, and aims to further boost growth for underserved micro and small businesses within the foodpanda ecosystem.

By offering reduced financing costs and much-needed capital, the initiative seeks to enhance cash flow and level the playing field for Bumiputera entrepreneurs, empowering them to scale their operations and thrive in the competitive market.

Chai Kien Poon, country head at Funding Societies Malaysia, said, “To support these businesses, particularly MSMEs, access to cash flow is crucialWe are hopeful that this partnership between Funding Societies and foodpanda can better assist and scale underserved, creditworthy small and medium-sized enterprises (SMEs) in this industry.”

Meanwhile, Tan Ming Luk, managing director of foodpanda Malaysia, emphasized the company’s commitment to equipping merchants with the necessary tools and resources to succeed in the current competitive landscape.

“This initiative not only provides access to much-needed capital at an affordable rate but also reinforces our commitment to supporting local entrepreneurs, especially as they prepare for the upcoming festive season. Together, we aim to drive meaningful growth and resilience for our foodpanda merchant community,” he said.

Kuala Lumpur, Malaysia – Boost Bank has announced the upcoming launch of its SME financing services in early October. This underscores the bank’s commitment in driving financial empowerment and inclusivity for both SMEs and MSMEs across the nation.

The financing offerings include two key financial products: ‘Term Loan’ and ‘Revolving Credit.’ Its SME financing solutions offer a seamless application process with minimal documentation, no hidden fees, and loan amounts from RM50,000. With fast loan processing, businesses can receive access to capital when it is needed most. These loans are also designed to provide flexible financial solutions that cater to the diverse needs of Malaysian SMEs to grow and thrive.

The ‘Term Loan’ facility offers a tenure of up to 36 months, with no early settlement fees—allowing businesses to effectively manage their cash flow. Flexible repayment options ensure that businesses can repay early, without any penalty, whenever it suits their business cycle. 

Meanwhile, the ‘Revolving Credit’ facility provides swift access to funds, empowering businesses to quickly respond to opportunities and challenges with financial confidence. This product is designed to adapt to the unique financial needs of each SME, rather than a one-size-fits-all approach.

Fozia Amanulla, CEO of Boost Bank, said, “At Boost Bank, we are on a mission to transform financial inclusion and spark lasting impact for Malaysia’s underserved communities. By harnessing cutting-edge digital innovation and our dynamic fintech ecosystem, we’re not just offering financial products—we’re building a platform that empowers SMEs to break through barriers and unlock their true potential. Our SME Financing solutions are designed to be swift, flexible, and accessible, giving small businesses the crucial boost they need to thrive and fuel their success across the nation.”

Meanwhile, Sheyantha Abeykoon, group CEO of Boost, commented, “As we continue to build the foundation for a fully integrated digital financial ecosystem, the launch of our SME Financing solutions marks a pivotal moment in our journey. SMEs are not just the backbone of Malaysia’s economy; they are the engine of innovation, growth, and resilience.”

He added, “At Boost, we believe in empowering businesses through digital innovation, and this initiative is a testament to our ongoing commitment to fostering financial inclusivity and sustainable growth for the underserved sectors of the economy. This is not just about providing loans, but about partnering with SMEs to fuel their long-term success and contribute to Malaysia’s broader economic transformation.”

Businesses looking to explore Boost Bank’s SME Financing solutions are encouraged to register their interest here. Boost Bank will also assess applications based on specific criteria, and eligible customers will be contacted directly to discuss financing opportunities tailored to their needs. 

Hong Kong – In line with their commitment to providing sustainable financing solutions to SMEs, consumer bank DBS in Hong Kong and investor-owned power business company CLP Power Hong Kong have partnered to help companies, regardless of their scale, transition to more sustainable business models.

Both companies have recognised the need to make sustainable financing solutions more accessible to SMEs, as sustainable financing tends to be rarer amongst SMEs, who are often constrained by the lack of resources, time, expertise, and funds. This also applies to energy audits, which often require expertise and additional funding.

To help alleviate these challenges, DBS Hong Kong and CLP Power will be offering flexible and innovative financing loan solutions to businesses. These solutions are pegged to CLP Power’s energy-saving services, which include sustainability performance targets (SPTs). SPT performance is measured with reference to the assessment methodologies under CLP Power’s present energy-saving funding schemes. 

By combining CLP Power’s comprehensive energy expertise with DBS’ extensive experience in strategic green advisory and financing, the two companies will be able to deliver comprehensive support and capital for clients, allowing them to invest in enhancing energy efficiency and expanding their businesses sustainably.

Jolynn Wong, head of business banking at DBS Bank Hong Kong, noted, “This marks DBS Hong Kong’s first SME banking package that comes with a pricing discount upon the completion of [an] energy audit with CLP Power.”

Meanwhile, Lena Low, senior director of customer success and experience of CLP Power, commented that as a trusted energy partner for business customers, CLP Power has introduced different energy management solutions such as energy audit service and offers different subsidy schemes to assist their customers to enhance energy efficiency and reduce carbon emissions. 

“We are excited that these initiatives are being recognised to support the assessment of the sustainability performance for customers which we believe will further motivate our customers to save energy and help Hong Kong achieve carbon neutrality by 2050,” said Low.