KUALA LUMPUR, August 17 – UOB Malaysia has announced a strategic partnership with PETRONAS Dagangan Berhad and its subsidiary, PETRONAS Lubricants Marketing (Malaysia) Sdn Bhd. Through the UOB Dealer and Distributor Financing Programme, this collaboration aims to strengthen the supply chain ecosystem for dealers and distributors under PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia), providing comprehensive financing solutions to more than 1,000 local retailers. The Programme has been designed to grant dealers and distributors within the ecosystem access to increased funding.
It encompasses working capital and capital expenditure financing, along with bank guarantees and cash management solutions, with the purpose of expanding their dealership and retail operations across the country. Mr. Andy Cheah, Managing Director and Country Head of Wholesale Banking at UOB Malaysia, stated, “As part of our longstanding commitment to PETRONAS, we are pleased to support its subsidiaries in enhancing the resilience of their supply chain management. Through UOB’s innovative and comprehensive solutions, we have the capabilities to support the financial needs of PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia)’s entire value chain.
We are dedicated to creating new opportunities and connecting companies for growth within the region.” Mr. Khalil Jaffri Muhammad Muri, Chief Operating Officer of PETRONAS Dagangan Berhad, added, “We are excited to partner with UOB Malaysia, leveraging their financial expertise to provide financial stability and security to our network of dealers and distributors. We believe that 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.”
Furthermore, dealers and distributors under the PETRONAS Dagangan and PETRONAS Lubricants Marketing (Malaysia) umbrella will benefit from UOB Malaysia’s financial supply chain management (FSCM) and a suite of ecosystem-based solutions. Through UOB Malaysia’s cash management capabilities and its digital banking platform – UOB Infinity¹, these dealers and distributors will gain end-to-end visibility and automation of their entire financial supply chain.
Mr. Lucas Chew, Executive Director and Country Head of Transaction Banking at UOB Malaysia, emphasized, “Our solutions are designed to address the challenges faced by businesses and their ecosystems, who may struggle to obtain essential financial support and cash management to expand their operations. In 2019, we established the UOB Vendor Financing Programme in collaboration with PETRONAS to provide financing for their upstream value chain. We are now extending the same support to their downstream value chain through the UOB Dealer and Distributor Financing Programme, further benefiting the PETRONAS ecosystem in the country.”
