HSBC Malaysia Provides First $15M Asset Backed Lending to Boost Carsome's Growth

HSBC Malaysia provides first $15M asset backed lending to boost Carsome's growth

HSBC Malaysia said Wednesday that it has recently provided its first asset based lending (ABL) facility of $15 million, to Carsome Certified Sdn Bhd to finance the purchase of refurbished vehicles that would be sold to retail customers. HSBC Malaysia said in a statement that this financing from HSBC will be key to boosting Carsome Certified’s growth operations in Malaysia. Carsome Certified which is an operating entity of the Carsome group, refu…

CARSOME Subsidiary Receives US$15 Million Asset-Backed Financing from HSBC - Fintech News Malaysia

HSBC Malaysia has extended its first asset-based lending (ABL) facility worth US$15 million to CARSOME Certified Sdn Bhd to support the purchase of refurbished vehicles for retail sale. CARSOME Certified, an operating entity of the CARSOME group, runs Southeast Asia’s largest vehicle refurbishment facility in Klang, where it reconditions up to 2,000 cars each month. The financing is expected to help expand its operations in Malaysia. The ABL fac…