Proton’s push to get more existing dealers in upgrading their current outlets to being 3S and 4S facilities have received a boost with a new financing collaboration. Proton, AmBank, and Credit Guarantee Corporation (CGC) will now give access of a RM100 million pool from CGC’s Portfolio Guarantee (PG) facility to Proton dealers that want to commit to the upgrade.

Each term loan facility provided via the PG to a dealer ranges from RM1 million to RM3 million with 70 per cent of the loan guaranteed by CGC. The guarantee fee is to be absorbed by AmBank and Proton dealers will be able to submit their applications from 18 January 2019 onwards. Applications will be processed on a first-come-first-serve basis within the RM100 million allocation.

“Last year, when Proton first embarked on the initiative to encourage our dealers to upgrade their outlet facilities to 3S/4S status, we were confident we could approve at least 109 proposals by the end of October. 2018. At the close of 2018, we actually achieved 117 which shows many grabbed the opportunity to revamp and upgrade their facilities. Currently we have a total of 73 outlets with 3S/4S status, making Proton the automotive brand with the most 3S/4S outlets in the country,” said Cheng Seng Fook, director of marketing for Proton Edar.