CIMB WORKS WITH PDAM TO LAUNCH FINANCIAL PROGRAMME FOR PETROL DEALERS

KUALA LUMPUR, Oct 15 (Bernama) -- CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) today launched Petrol Station Dealer Programme (“the Programme”), a comprehensive financial support programme designed specifically for petrol station dealers. Developed in close collaboration with the Petroleum Dealers Association of Malaysia (“PDAM”), the Programme aims to address financing, cash management and business advisory, following the implementation of fuel subsidy rationalisation.

Lawrence Loh, Co-CEO of Group Commercial and Transaction Banking, CIMB Group said, “As the industry adapts to the new floating fuel price mechanism, CIMB remains committed to supporting Malaysia’s petrol distribution network which is predominately driven by small and medium-sized enterprises (“SMEs”), through our 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.”