KUALA LUMPUR: Chailease Berjaya Credit Sdn Bhd has raised RM450mil in its first ringgit syndicated term loan facility and the proceeds will be used for its business expansion.
The syndicated loan was over-subscribed and was upsized to RM450mil from an initial RM300mil, according to a statement issued by OCBC Bank (M) Bhd.
Mizuho Bank (M) Bhd and OCBC Bank (M) Bhd, the coordinating mandated lead arrangers and bookrunners, syndicated the loan to Bangkok Bank Bhd, Bank of China (M) Bhd and MALAYAN BANKING BHD .
Chailease Berjaya is a joint venture between Taiwanese leasing giant Chailease Holding Company Ltd and Berjaya Capital Bhd.
It offers a variety of value-added financing services and insurance solutions.
Simon Hou, the chairman of Chailease Berjaya and president of Chailease Finance Co Ltd, said Chailease group has just launched its Golden 10 year plan beginning of this year and Asean market plays a pivotal role in realising the plan.
“Chailease Berjaya is strategically positioned to contribute to business development in the Asean market,” he said.
Since its incorporation in October 2015, Chailease Berjaya has moved beyond financing passenger cars to include superbikes as well, which brings higher margins to the company.
By collaborating with Berjaya Auto’s dealer network and approved independent car dealers, Chailease Berjaya now has a network of more than 1,500 dealers in Peninsular Malaysia.
Besides the HQ in Kuala Lumpur, Chailease Berjaya has two offices in Johor and one each in Ipoh, Penang, Melaka, Seremban and Pahang.
The company has plans within the next five years to further expand its financing business to commercial cars, heavy equipment, individuals as well as Small Medium Enterprises (SMEs).“The strong support provided by the lenders of this syndication will pave the way for future business opportunities, as the company expands its business throughout Malaysia by offering more products and services going forward,” Hou said.
Chailease Berjaya will look to expand throughout both Peninsular Malaysia and also Sabah and Sarawak with an improved range of new products and services for its ever-growing client base.