Skip to main content



Press Release


JANUARY 2009, KUALA LUMPUR. The downward revision in the Bank’s lending and base financing rates will have negligible effect on Proton car sales” said Armin Baniaz Pahamin, Acting President, Proton Edar Dealers Association Malaysia.

  1. Currently, the interest rate for Proton car remained at 3.88% for hire-purchase loan duration of 7 years or less and 3.99% for hire-purchase loan duration of 8 and 9 years.

  1. The interest rate has remained constant and there is no downward adjustment for Proton car interest rates even after the last revision by Bank Negara in November 2008.

  1. In the latest revision by Bank Negara, it is doubtful that any interest rate adjustment to be made to new proton cars and on the bank facilities subscribed by Proton dealers.

  1. Similarly, there is no interest rate adjustment even on Bank facilities subscribed by Proton Edar dealers (with most banks) during last November Bank Negara revision.

  1. The interest rate for banking facilities offered to proton dealers by most banks is on a fix interest rate on daily and period-rest. Only a few facilities (by one or two banks) interest rate are fixed based on Base Lending Rate (BLR).

  1. The interest rate reduction is an additional profit to Banks perhaps as a support for the anticipated losses during this recession year with negligible benefits to the dealers or the customers.

  1. The public or car buyers do not benefit from the November interest revision nor does majority of Proton dealers.

  1. The Public or potential proton buyer are still facing difficulty with securing hire-purchase loan to buy new proton cars given the high risk profile programmed for proton customers.

  1. To improve the customers risk profile that is based on overall proton historical sales, the NPL for Proton brand name should be in a different category for new Proton car sales by Proton AUTHORISED DEALERS and different classification for ‘new-and-used-proton’ car sales by USED CAR DEALERS. Then the NPL will be more accurate and customer’s loan approval can be improved.

  1. Government should only allow Proton authorized dealers to submit for new proton hire-purchase loan submission to Banks to mitigate unnecessary fraud, CBT and NPL (by unauthorized dealers). Currently any dealer can submit to the bank direct.

  1. Unauthorized car dealer Hire purchase loan submission for new Proton cars contributes to a higher NPL. Authorized proton dealers had to comply with strict requirement by Proton and will not jeopardize their dealership for any fraud or syndicated buyers.

  1. Factors that will spur the automotive industry include a more flexible and cheaper banking facilities, flexible loan duration, easier loan approval and a regulated pricing for second hand cars.

  1. The public are heavily burden when the value of their existing car is less than the balance loan amount of the said car. This will further hamper the growth of the automotive sales.

  1. 9 out of 10 customers would want to trade-in their existing car to buy a new car, but many are not able to trade-in their car, because the car value is lower than the balance loan amount. The value of second-hand or registered used cars car depends entirely on the banks prerogative on the financing amount.


Popular posts from this blog


There is no better birthday gift for a father whom already have everything from love, jeweleries, cars and wealth but a nice short autobiography blog to say that he is always being remembered, we are very proud of him and also for his next many generations to remember him by. Of course, a prayer for his eternal happiness and health too. This birthday write-up is from a son whom owes everything to a father that asked for nothing, except to see his family united and happy. We always love you..

HAPPY BIRTHDAY... though abit belated.

His full name is PAHAMIN ABDUL RAJAB. The 3rd in a sibling of 5; the eldest is a sister Bidah binti Abdul Razak, then Allahyarham Mahadi Abdul Razak (picture on right), Datuk Noordin Abdul Razak, my father and Hashim Abdul Razak. PAHAMIN ABDUL RAJAB was born on 23 February 1946 in Kampung Badak, Bachok Kelantan. When Pahamin was born, the registrar misread the arabic writing and wrongly recorded into romanised typing as Rajab instead of Razak, hence the diff…


This year marked an important year for PROTON having celebrated its 25th year anniversary and MAYBANK's 50th year anniversary but more importantly this year is also my parent's 40th year anniversary, my elder sister Chempaka Emalin & Azhar Sulaiman's 15 year anniversary, Mine's 10th YEAR, my sisters Melor Edina & Rhiza Ghazi's 10th Year and Dr Teratai Edithy & Shazrul Azwa Asari's 5th anniversary.

LOOKING FOR A CAR WORKSHOP? This Local App Will Find One That Won't Overcharge You

This article was first published at by John Lim (On behalf of CarBengkel team, thank you John &

Looking for a reliable car workshop is not an easy feat in Malaysia. Many car workshops are known for overcharging and providing poor quality parts.
Image via Auto World Remember the last time you were overcharged for a repair? Yeah, me too.
The good news is you don't have to fret anymore! Car Bengkel, a local app set up in collaboration with the Malaysia Automotive Institute (MAI), aims to help motorists survive this ultimate road challenge.