KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) have launched the Petrol Station Dealer Programme, a comprehensive financial support initiative designed for petrol station dealers.
In a statement, CIMB said the programme, developed in close collaboration with the Petroleum Dealers Association of Malaysia (PDAM), aims to offer financing, cash management, and business advisory solutions in response to the fuel subsidy rationalisation.
CIMB Group
co-chief executive officer of group commercial and transaction banking, Lawrence Loh, said the bank remains committed to supporting Malaysia’s petrol distribution network, which is largely driven by small and medium-sized enterprises (SMEs), as the industry adapts to the new floating fuel price mechanism through its Petrol Station Dealer Programme.
“The tailored programme not only addresses immediate cash flow needs but also strengthens the petrol dealers’ long-term resilience, enabling them to thrive amid evolving market dynamics.
“We believe that through this holistic programme, we are not only advancing our customers’ business sustainability but reinforcing their role as a vital part of the nation’s oil and gas ecosystem,” Loh said.
Meanwhile, PDAM president Datuk Khairul Annuar Abdul Aziz said: “This is a timely and strategic initiative by CIMB that offers much-needed support to our industry. It represents a positive step towards ensuring the long-term sustainability of petrol dealers, particularly as we adjust to the changes arising from the subsidy rationalisation.
“By providing access to affordable working capital, this targeted programme will be able to support dealers with better cash management, while enhancing their financial resilience for the future.”
The programme offers multifaceted support through CIMB’s product bundling proposition, featuring core offerings in business financing and cash solutions. This approach enables dealers to select flexible options that suit their business scale and operational needs.
The Cashline-i facility offers unsecured standby credit of up to RM500,000, depending on monthly fuel sales, at highly competitive rates to support dealers’ financing needs. It is designed to help dealers manage daily cash flow and ease cost pressures.
CIMB is offering preferential rates under its Daily Investment Account (DIA-i) as part of its cash solutions, enabling dealers to optimise returns on operational funds and enhance long-term financial resilience.
In addition to working capital and cash solutions, CIMB supports dealers with advisory services, offering guidance on renewable energy adoption and sustainable business practices. Leveraging the Low Carbon Transition Facility-i, dealers are able to install solar panels at their stations, allowing long term energy efficiency and cost savings.
