- For working capital as it is a short-term financing and is revolving in nature.
- Aimed at bridging financing for dealer to purchase stock of motor vehicles from the supplier/principal pending sales to the end-buyers.
- Available in Conventional and Islamic.
COMMERCIAL HIRE PURCHASE
Floor Stocking
This is offered to new, used, reconditioned, and commercial vehicle dealers for the purchase of motor vehicles stock
Financing Tenure
- Revolving in nature but each individual unit has a financing tenure of up to a maximum of 180 days.
- The Floor Stocking account is also subjected to annual review.
- Margin of Finance: Up to 100% of the purchase price of the vehicles including Custom and Excise duty and other costs.
- Rates: BLR/BFR based or Flat Rate depending on discretion of the management.
Eligibility
Available to limited companies registered in Malaysia and involved in motor vehicles trading acceptable to Maybank.
Documents Required
- Company Registration
- M&A
- Form 9/D
- Form 13
- Form 24 & 49 (full set from date of incorporation/registration)
- Profile of Company and Holding Company (if any)
- Profile and Particulars of Directors (if any)
- Photocopy of each Director's Identity Card
- Latest Form J/BE of each Directors (if any)
- Latest 3 financial year Audited Accounts for Company and Holding Company
- Latest 6 months Bank Statement of all bankers
- Latest 6 months financing and collection
- Letter of appointment as authorised dealership (if any)
- List of Ageing Analysis for all outstanding hirers as at latest month-end
- Photograph of the company
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