Public Bank Berhad enters into a collaboration with Proton New Energy Technology Sdn Bhd (PRO-NET)

Public Bank Berhad  had formalised a collaboration with Proton New Energy Technology Sdn Bhd (PRO-NET) by entering into a Memorandum of Collaboration (MoC) on 9 August 2023 which aims to provide financing facilities on financial products and services sold by PRO-NET (which was set up to sell new energy powered vehicles like EVs etc), and to embark on digitalization via systems integration with smart Malaysia (PRO-NET's first vehicle dealership in Malaysia) and its authorized dealers.

This collaboration will enable Public Bank to facilitate digitalisation via online submission of hire purchase end-financing applications and Floor Stocking facility through smart customer App and their authorized dealers thus improving the market shares in the EV automotive industry. Basically, this arrangement allows smart Malaysia dealers to have financial instruments available from Public Bank right from the start of sales of smart vehicles here, especially the upcoming smart#1 compact crossover car.